Malaysia’s FTSE Bursa Malaysia KLCI Index fell 1.67, or 0.1 percent, to 1,569.89. The gauge lost 0.2 percent this week, its first decline in four weeks.
Hubline Bhd. (HUBL MK), a shipping group, slid 2.2 percent to 22 sen after RAM Rating Services Bhd. cut the outlook for its long-term Islamic bond ratings to “negative” from “stable.” This is to reflect concerns that the group’s financial performance may remain depressed by “weak” freight rates, RAM said in a report.
IJM Corp. (IJM MK), a construction company, climbed 2.8 percent to 6.70 ringgit, its highest close since Feb. 22, 2007. Credit Suisse Group AG, in a report today, raised its share estimate to 7.71 ringgit from 5.80 ringgit to reflect expectations that IJM may win the West Coast Expressway project valued at as much as 5 billion ringgit ($1.6 billion).
Malayan United Industries Bhd. (MUI MK), a property developer and retailer, jumped 16 percent to 25.5 sen, the most since May 13, 2009, after the company said it plans to start talks to sell a stake in its insurance unit to Liberty International Holdings Inc. of the U.S.
Media Prima Bhd. (MPR MK), a newspaper publisher and broadcaster, climbed 1.1 percent to 2.71 ringgit, the most in a week, after Citigroup Inc. raised its share estimate to 3.10 ringgit from 2.70 ringgit to reflect higher television advertising rates.
Suria Capital Bhd. (SURIA MK), a builder, gained 4.4 percent to 2.38 ringgit, its highest close since May 30, 2008. The company said it’s part of a group of companies that won a 1 billion ringgit contract to build a 300-megawatt gas-fired power plant in Malaysia’s Sabah state, according to a company statement.
Unisem Bhd. (UNI MK), Malaysia’s second-biggest listed semiconductor company, gained 1.3 percent to 2.27 ringgit, the most since Jan. 5. Intel Corp., the world’s largest chipmaker, forecast first-quarter sales that may exceed analysts’ estimates as companies boost spending on computers and servers.
To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at email@example.com