Malaysia Stocks: ECS ICT, Hua Yang, Hwang-DBS, Jaya, SapuraCrest
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 (FBMKLCI) Index rose 5.84, or 0.4 percent, to 1,520.09, the highest since March 9.
ECS ICT Bhd. (ECS) , a distributor of computer-related products, rose 3.9 percent to 1.60 ringgit, a record high. The company said it was awarded distribution rights for Apple Inc.’s iPad in the Southeast Asian nation, according to a stock exchange filing.
Hua Yang Bhd. (HYB) , a property developer, jumped 10 percent to 1.52 ringgit, an all-time high. The stock is valued at 2.76 ringgit each, Terence Wong, an analyst at CIMB Investment Bank Bhd., wrote in a report today.
Hwang-DBS (Malaysia) Bhd. (HDBS MK), a stock brokerage, gained 4.4 percent to 2.35 ringgit, the most since Nov. 22. The company said net income in the second quarter ended Jan. 31 rose 38 percent to 23.2 million ringgit ($7.7 million), according to a stock exchange filing.
Jaya Tiasa Holdings Bhd. (JT) , a timber producer and oil palm planter, advanced 6.5 percent to 6.56 ringgit, its highest close since March 2000. Jaya said net income in the third quarter ended Jan. 31 almost tripled from a year earlier to 39.9 million ringgit on higher selling prices, according to a company statement.
SapuraCrest Petroleum Bhd. (SCRES) , an oil and gas services provider, climbed 2.5 percent to 3.64 ringgit, its steepest gain since March 9. The company said profit in the fourth quarter ended Jan. 31 surged 79 percent from a year earlier to 72.7 million ringgit, according to a statement to the stock exchange.
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