Malaysia Stocks: Faber Group, Gopeng, KNM Group, SP Setia Bhd.
Malaysia’s FTSE Bursa Malaysia KLCI Index 4.78, or 0.3 percent, to 1,571.27 at 9:32 a.m. in Kuala Lumpur. The gauge gained for a second straight day.
Faber Group Bhd. (FAB MK), a hospital support services provider and property group, slid 9.1 percent to 2.39 ringgit, set for its steepest decline since Oct. 24, 2008. Faber said the emirate of Abu Dhabi didn’t renew the company’s annual civil, mechanical and electrical maintenance contracts totaling 55 million ringgit ($18 million), according to a company statement.
Gopeng Bhd. (GOP MK), an investment holding company, jumped 10 percent to 1.42 ringgit, bound for its biggest gain since Aug. 17, after declaring a special interim dividend of 35 sen a share following the sale of its stake in a cement business.
KNM Group Bhd. (KNMG MK) advanced 1.9 percent to 3.23 ringgit, on course for its highest close since Feb. 18. The Employees Provident Fund bought 1.2 million shares in KNM, an oil and gas services provider, a stock exchange filing showed. The purchases raised the EPF’s stake to 8.4 percent, according to the filing.
SP Setia Bhd. (SPSB MK), a property developer, climbed 1.1 percent to 6.76 ringgit, set to close at a record. HwangDBS Vickers Research Sdn. increased its share-price estimate to 7.70 ringgit from 7 ringgit, citing the company’s earnings growth prospects.
To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey in Hong Kong at email@example.com