Malaysia Stocks: Fraser & Neave, Ireka, Maxis, Premium Nutrients

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 5 p.m. close in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index rose for a third day, adding 3.95, or 0.3 percent, to 1,539.55, its highest close since Jan. 24.

Fraser & Neave Holdings Bhd. (FNH MK), a beverage maker, rose 3.5 percent to 15.50 ringgit, its steepest increase since Nov. 9. First-quarter profit climbed 38 percent from a year ago to 107.1 million ringgit ($35 million) as sales gained.

Ireka Corp. (IREKA MK), a builder, advanced 2.5 percent to 83 sen, its highest close since Nov. 22. Ireka said it won a 27.6 million-ringgit contract to help build a hospital in Vietnam, according to a company statement.

Maxis Bhd. (MAXIS MK), Malaysia’s biggest mobile-phone operator, climbed 1.1 percent to 5.39 ringgit, the most since Dec. 13. Maxis may announce “strong” final dividends, Kelvin Goh, an analyst at CIMB Investment Bank Bhd., said in a report, raising his 2010 dividend forecast to 45 sen a share from 38 sen.

Premium Nutrients Bhd. (PRNB MK), a palm oil processor, gained 4.5 percent to 35 sen, its highest close since Jan. 6. The company said Agro Asia Pacific Ltd. offered to buy three of its units for 118 million ringgit. They represent Premium Nutrients’s main business, it said in a statement.

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

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.