Malaysia Stocks: ECM Libra, IJM, Kencana, Perisai, Poh Kong

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 11.54, or 0.8 percent, to 1,531.63, the highest close since Feb. 9. The gauge has climbed 0.8 percent this year, the third straight quarterly increase, set for its longest winning streak since the quarter ended March 2010.

ECM Libra Financial Group Bhd. (ECML) rose 3.6 percent to 85.5 sen, its highest close since Feb. 26, 2008. 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 ($15 million).

IJM Corp. (IJM MK) gained 3 percent to 6.28 ringgit, the most since Dec. 2, after Credit Suisse Group AG said Malaysia’s second-biggest builder may win more than 5 billion ringgit of construction contracts. This “could drive an upward re-rating of the stock,” Danny Goh, an analyst at Credit Suisse, wrote in a report today. He raised his price estimate for the stock to 8 ringgit from 7.71 ringgit and kept his “outperform” rating.

Kencana Petroleum Bhd. (KEPB) , an oil and gas services provider, climbed 1.2 percent to 2.61 ringgit, its highest close since March 9. The company 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.

Perisai Petroleum Teknologi Bhd. (PPT) , an oil and gas services provider, jumped 8.6 percent to 88 sen, closing at an all-time high, after agreeing to buy Garuda Energy (L) Ltd. for $70 million.

P.I.E. Industrial Bhd. (PIE MK), a wire and cable products maker, advanced 1.4 percent to 4.30 ringgit, its highest close since Aug. 16. The company proposed a special dividend of 23 sen a share on top of a final dividend of 12 sen, according to a company statement.

Poh Kong Holdings Bhd. (PKH) , a jewelry maker, rose 3.4 percent to 45.5 sen, the highest since Feb. 18. The company 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.

To contact the reporters on this story: Chan Tien Hin in Kuala Lumpur at thchan@bloomberg.net

To contact the editor responsible for this story: Darren Boey in Hong Kong at dboey@bloomberg.net

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