Malaysia Stocks: DBE Gurney, OSK, SapuraCrest, Time DotCom
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 10.81, or 0.7 percent, to 1,505.33, the biggest gain since Feb. 2. The stock market will be shut tomorrow for a public holiday.
Oil and gas stocks: SapuraCrest Petroleum Bhd. (SCRES MK) led oil and gas services higher after Petroliam Nasional Bhd. said it made “major” oil and gas discoveries off the coast of Sarawak state. SapuraCrest climbed 4.4 percent to 3.55 ringgit, its steepest gain since Jan. 12. Kencana Petroleum Bhd. (KEPB MK) added 3.6 percent to 2.57 ringgit and Malaysia Marine & Heavy Engineering Bhd. (MMHE MK) climbed 1.5 percent to 6.21 ringgit.
DBE Gurney Resources Bhd. (DBE MK), a poultry company, dropped 2.5 percent to 19.5 sen, the lowest close since Feb. 7. The company said its loss in the fourth quarter widened to 4.29 million ringgit ($1.4 million) from 2.65 million ringgit a year earlier as sales declined, according to a stock exchange filing.
OSK Holdings Bhd. (OSK MK), a stockbroker, advanced 3.4 percent to 1.84 ringgit, the most since Feb. 2. The company said its DMG & Partners Securities Pte. unit signed a preliminary agreement on strategic cooperation with Sacombank Securities Co. in Vietnam.
Time dotCom Bhd. (TDC MK), a fiber-optic capacity provider, jumped 9.5 percent to 81 sen, its steepest increase since Dec. 21. Macquarie Group Ltd. rated the stock “outperform” with a share-price estimate of 94 sen.
To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at email@example.com
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