Hai-O, Ingress Corp., Integrax, Tenaga: Malaysia Equity Preview
Shares of the following companies may have unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the previous close, unless stated otherwise.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index rose 0.2 percent to 1,511.97.
Hai-O Enterprise Bhd. (HAIO) : The seller of traditional healthcare products said profit in the third quarter ended Jan. 31 fell 65 percent from a year earlier to 6.35 million ringgit ($2.1 million) after sales dropped, according to a company statement. The shares added 0.9 percent to 2.27 ringgit.
Ingress Corp. (INGC MK): The auto-parts supplier said profit in the fourth quarter ended Jan. 31 slid 18 percent from a year earlier to 2.11 million ringgit, according to a company statement. Ingress lost 1.4 percent to 73 sen.
Kuantan Flour Mills Bhd. (KFM) : The flour miller said it proposed to raise as much as 14.9 million ringgit from a rights offer and private share placement to repay loans and finance its operations. Kuantan Flour also plans a share capital reduction to reduce accumulated losses, the company said in a statement. The shares were unchanged at 54.5 sen.
Magna Prima Bhd. (MAGNA) : The developer’s Chief Executive Officer Yoong Nim Chee resigned, the company said in a statement, without citing a reason. The stock fell 0.6 percent to 79.5 sen.
Subur Tiasa Holdings Bhd. (STH) : The timber group said second-quarter net income fell 14 percent to 5.4 million ringgit, according to an exchange filing. The stock fell 1.4 percent to 2.87 ringgit.
Tenaga Nasional Bhd. (TNB) : Malaysia’s biggest power producer said it paid 106.5 million ringgit for a 22.12 percent stake in Integrax Bhd. (INTEG) , which provides coal handling services for one of the company’s largest power plants. Tenaga paid 1.60 ringgit per share, according to a stock exchange statement. Tenaga fell 0.8 percent to 6.18 ringgit. Integrax slid 2.5 percent to 1.58 ringgit.
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