Apollo, Kencana, Malaysian Resources: 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 0.4 percent to 1,520.09.
Apollo Food Holdings (APOF) Bhd: The producer of chocolate products and cakes said profit in the third quarter ended Jan 31 fell 5.5 percent from a year earlier to 6.39 million ringgit ($2.1 million) as an increase in raw material prices countered higher sales. Apollo lost 1 percent to 2.91 ringgit.
ECM Libra Financial Group Bhd. (ECML) : The stockbroker and corporate finance group said profit in the fourth quarter ended Jan. 31 more than tripled from a year earlier to 45.8 million ringgit as revenue surged. ECM gained 4.4 percent to 82.5 sen.
Kencana Petroleum Bhd. (KEPB) (KEPB): The Malaysian oil and gas services provider received a 216 million-ringgit contract from the local arm of U.K.-based Petrofac Ltd. to build well head platforms for the Cendor oil field, according to a company statement. Kencana added 0.4 percent to 2.58 ringgit.
Malaysian Resources Corp. (MRC MK): The builder and property group agreed to form a joint venture with Ekovest Bhd. (EKO) to participate in a river-cleaning project in Kuala Lumpur, according to a company statement. Malaysian Resources rose 1.9 percent to 2.17 ringgit and Ekovest added 0.3 percent to 3.80 ringgit.
MISC Bhd. (MISC) : The Malaysian shipping group said its AET Inc. unit agreed to sell four tankers to Icon Capital Corp. for $167 million in an effort to phase out older vessels, according to a company statement. MISC rose 0.7 percent to 7.80 ringgit.
P.I.E. Industrial Bhd. (PIE MK): The wire and cable products maker proposed a special dividend of 23 sen a share on top of a final dividend of 12 sen, according to a company statement. The stock dropped 1.2 percent to 4.24 ringgit.
Poh Kong Holdings Bhd. (PKH) : The jewelry maker said profit for the second quarter ended Jan. 31 rose 27 percent from a year earlier to 9.52 million ringgit on higher sales, the company said in a statement. Poh Kong was unchanged at 44 sen.
To contact the reporters on this story: Chan Tien Hin in Kuala Lumpur at email@example.com