Malaysia Stocks: Borneo Oil, ETI Tech, Guinness, MTD ACPI

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses, and share prices are as of 9:20 a.m. in Kuala Lumpur.

Malaysia’s FTSE Bursa Malaysia KLCI Index fell 1.03, or 0.1 percent, to 1,541.94, set for its lowest close since Jan. 3. That’s its fifth day of declines, the longest losing streak since a six-day slide through July 5.

Borneo Oil Bhd. (BORNO MK), a restaurant owner and trader of machinery and spare parts, slid 3.3 percent to 73.5 sen after saying it didn’t know the reason for the recent surge in its share price. The company was responding to a stock exchange query after the stock jumped 16 percent on Jan. 19 and 4.1 percent on Jan. 21.

ETI Tech Corp. (ETIT MK), a battery maker, dropped 1.6 percent to 31.5 sen, bound for its lowest close since Jan. 10. The company said its profit in the first quarter ended Nov. 30 dropped 66 percent from a year earlier to 1.14 million ringgit ($370,000) after sales declined.

Guinness Anchor Bhd. (GUIN MK), Malaysia’s biggest brewer by market value, jumped 6.2 percent to 10.62 ringgit, headed for the steepest gain since Nov. 4. OSK Research Sdn. predicted “healthy” earnings this year after meeting management, it said in a report today.

MTD ACPI Engineering Bhd. (ACP MK), a maker and supplier of precast concrete products, rose 1.9 percent to 52.5 seen, on course for its largest increase since Dec. 22. The company said it received a takeover offer at 53 sen a share from Alloy Consolidated Sdn., Alloy Concrete Engineering Sdn. and Alloy Capital Sdn.

To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at thchan@bloomberg.net

To contact the editor responsible for this story: Darren Boey in Hong Kong at dboey@bloomberg.net

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