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 fell 0.3 percent to 1,557.49.
IOI Corp. (IOI MK): Unilever may review supply agreements with IOI after the Malaysian palm-oil producer drew scrutiny from an industry group following allegations about land disputes and illegal deforestation. Unilever, the world’s second-biggest consumer-goods company, is “concerned” about sanctions being levied against IOI by the Roundtable on Sustainable Palm Oil, it said in a statement. IOI slid 1.2 percent to 5.65 ringgit.
Kumpulan Perangsang Selangor Bhd. (KUPS) : The property group said its Konsortium Abass Sdn. unit plans to refinance debt as its cash flow position has weakened. Konsortium has received an offer letter from financial institutions for a term loan of as much as 82.5 million ringgit ($27 million) to partly refinance existing borrowings, Konsortium said in a statement. The stock was unchanged at 1.23 ringgit.
Mamee-Double Decker Bhd. (MAMEE) : The food producer said it proposed a capital repayment of 179.8 million ringgit to minority shareholders as part of a plan to de-list the company. The plan is an opportunity for shareholders to “realize their investments” and comes as the company seeks to raise bank borrowings to boost production capacity and improve productivity amid higher raw material prices, Mamee-Double said in a statement. The stock rose 1.4 percent to 3.60 ringgit on April 6. The shares were suspended on April 7.
Mithril Bhd. (MITH) : The building materials supplier had the rating on its redeemable convertible loan stock cut by Malaysian Rating Corp. to its lowest level after defaulting on a coupon payment of 1.25 million ringgit. It was cut to D from B, Malaysian Rating said in an e-mailed statement. Mithril gained 7.7 percent to 7 sen.
Tan Chong Motor Holdings Bhd. (TCM) : The auto assembler said it was granted approval to raise its investment in a Vietnam automotive manufacturing plant to $40 million from $15 million. The facility, which will make and assemble buses, trucks and cars, is expected to be completed ahead of schedule in the third quarter of 2012, Tan Chong said in a stock exchange filing. The stock fell 0.2 percent to 4.74 ringgit.
Yung Kong Galvanizing Industries Bhd. (YKGI MK): The manufacturer of steel products plans to list its Starshine Holdings Bhd. unit on the Kuala Lumpur stock exchange. Starshine is seeking to gain direct access to the capital market to raise funds for its future expansion, according to a company statement. The stock added 3.7 percent to 56 sen.
To contact the editor responsible for this story: Reinie Booysen at email@example.com