Bina Puri, Malaysia Smelting, Quill: Malaysia Equity Preview
Shares of the following companies may have unusual price changes in Malaysia trading. Stock symbols are in parentheses, and share prices are as of the close in Kuala Lumpur.
Malaysia’s FTSE Bursa Malaysia KLCI Index fell 1.2 percent to 1,547.43.
Bina Puri Holdings Bhd. (BIN MK): The builder said it agreed to buy 1.95 acres of land in Sabah state for 4.5 million ringgit ($1.5 million). Bina Puri will develop service apartments on the land with an estimated gross development value of 60 million ringgit, it said in a statement. Bina Puri slid 1.3 percent to 1.48 ringgit.
CapitaMalls Malaysia Trust (CMMT MK): The retail property trust reported a profit of 28.1 million ringgit in the fourth quarter ended Dec. 31. The company achieved a distributable income of 24.8 million ringgit, or 1.84 sen per unit, it said in a statement. The distribution per unit is higher than its forecast of 1.78 sen, it said. The company didn’t provide year- ago earnings figures because it’s only been in operation since last year. CapitaMalls was unchanged at 1.10 ringgit.
Equine Capital Bhd. (EQC MK): The property developer said it agreed to partner Revenue Concept Sdn. to develop an office and housing project with a gross development value of 1 billion ringgit. The project will be on 9 acres of land in Subang Jaya, Selangor state, Equine said in a statement. Equine fell 1.8 percent to 54.5 sen.
Malaysia Smelting Corp. (SMELT MK): The tin producer, which plans a secondary listing in Singapore, said the issue price of the initial public offering has been set at S$1.75 a share. The public issue will consist of 1 million shares to the public in Singapore and a placement of 24 million shares to investors, including institutional buyers, it said in a statement. Malaysia Smelting dropped 2.1 percent to 4.60 ringgit when it last traded on Jan. 19.
Quill Capita Trust (QUIL MK): The property trust partly owned by Singapore’s CapitaCommercial Trust (CCT SP) said fourth-quarter net income fell to 8.12 million ringgit from 8.88 million ringgit a year earlier because of higher administrative expenses. Quill added 3.6 percent to 1.14 ringgit.
To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at firstname.lastname@example.org