Malaysia Stocks: CBS Technology, Malaysia Steel, Oriental, PJI
Stock Chart for Malaysia Steel Works KL Bhd (MSW)
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 fell 3.48, or 0.2 percent, to 1,536.07, the first decline in four days.
CBS Technology Bhd. (CBS MK), a software solutions developer, jumped 14 percent to 45 sen, the highest close since July 20, 2007. CIMB Investment Bank Bhd. valued the shares at between 58 sen and 63 sen to reflect its growth prospects, according to a report today.
Malaysia Steel Works (KL) Bhd. (MSW MK) fell 0.8 percent to 1.29 ringgit, its lowest close since Jan. 27. Lembaga Tabung Haji, the nation’s pilgrim fund, sold 1 million shares in the steelmaker, a stock filing showed. The sale trimmed its holdings in Malaysia Steel Works to 14 million shares, or a 6.7 percent stake, it said.
Oriental Interest Bhd. (OIB MK), a property and manufacturing group, slid 4 percent to 1.20 ringgit, the steepest drop since Sept. 21. The company said it had a loss of 883,000 ringgit ($291,000) in the second quarter ended Dec. 31 compared with a profit of 832,000 ringgit a year earlier.
PJI Holdings Bhd. (PJIH MK), an engineering services group, surged 7.9 percent to 20.5 sen, its highest close since February 2007. The company won a 55.9 million-ringgit contract from IJM Construction Sdn. to conduct mechanical and electric works on a university project, according to an exchange filing.
To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at email@example.com
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