Malaysia Stocks: Alam Maritim, Allianz, Guocoland, Top Glove
The following companies may have unusual price changes in Malaysia trading. Stock symbols are in parentheses, and share prices are as of the 12:30 p.m. break in Kuala Lumpur.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index fell 4.86, or 0.3 percent, to 1,530.73.
Alam Maritim Resources Bhd. (AMRB) , an oil and gas services provider, gained 2 percent to 1.03 ringgit, set for its biggest increase since March 30. The company won a contract worth 24.2 million ringgit ($8 million) to supply two vessels, according to an exchange filing.
Allianz Malaysia Bhd. (ALLZ) jumped 6.6 percent to 5.32 ringgit, bound for its steepest gain since Jan. 3. CIMB Investment Bank Bhd. valued the insurer’s shares at between 8.20 ringgit and 9.80 ringgit to reflect its earnings growth prospects, according to a report by analyst Winson Ng Gia Yann.
Guocoland (Malaysia) Bhd. (GUOL MK), a property developer, dropped 2.3 percent to 1.27 ringgit after the company reported a third-quarter loss of 3.6 million ringgit.
Top Glove Corp. (TOPG MK), the world’s biggest rubber-glove maker, gained 1.8 percent to 5.05 ringgit, halting a five-day drop. Rubber declined for a third day amid speculation demand from tire makers may weaken because of Japan’s nuclear crisis and that supply from Thailand, the largest producer, may improve after New Year holidays.
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