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Gamuda, Ho Hup, Latexx, PJBumi, Tenaga: Malaysia Equity Preview

Shares of the following companies may have unusual price changes in Malaysia trading. Stock symbols are in parentheses and prices are as of the close on Jan. 31, unless stated otherwise.

The FTSE Bursa Malaysia KLCI Index fell 0.1 percent to 1,519.94. The market was shut yesterday for a public holiday and trading will end today at the 12:30 p.m. break.

Gamuda Bhd. (GAM MK): The builder said its joint venture with MMC Corp. (MMC MK) was appointed as project delivery partner by the government to oversee the implementation of the Klang Valley mass rail project in Malaysia. The venture received a letter of award from the government’s Syarikat Prasarana Negara Bhd., Gamuda said in a statement. Gamuda slid 0.5 percent to 3.81 ringgit. MMC fell 1.1 percent to 2.83 ringgit.

Ho Hup Construction Co. (HO MK): The builder said it has applied to the stock exchange for a further extension of time of three months to submit a proposal to restore the company’s finances. The shares were unchanged at 58 sen.

Latexx Partners Bhd. (LTX MK): The rubber-glove maker said it received an indicative, non-binding proposal from Navis Asia VI Management Co., which together with Mettiz Capital Ltd. is offering to acquire the company for 852 million ringgit ($280 million), or 3.10 ringgit a share. Latexx’s board has accepted the proposal, the company said in a statement. Latexx climbed 8.5 percent to 2.80 ringgit on Jan. 27. The shares were suspended on Jan. 28.

PJBumi Bhd. (PJSB MK): The storage-tank supplier said Citrine Holdings Ltd. has emerged as a substantial shareholder after buying a 12 percent stake, a stock filing showed. PJBumi added 8.7 percent to 25 sen on Jan. 27.

Tenaga Nasional Bhd. (TNB MK): The power producer said it agreed to buy a 33-storey office tower in Kuala Lumpur from a unit of Minister of Finance Inc. for 232.2 million ringgit. The office tower will be used to house most of its departments that are currently renting office spaces into one building to improve operational efficiency, it said in a statement. Tenaga lost 1.3 percent to 6.15 ringgit.

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 at dboey@bloomberg.net

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