Malaysia Stock Movers: DiGi.Com, Proton, UMW Holdings, YTL

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 12:30 p.m. break in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI (FBMKLCI) Index fell 4.85, or 0.3 percent, to 1,520.95, set for its lowest close since March 29. The gauge has fallen 2.4 percent this week, headed for its biggest weekly drop since Feb. 11.

DiGi.Com Bhd. (DIGI) , a mobile-phone operator, declined 1.2 percent to 29.14 ringgit, set for its largest drop since March 10, after the stock was cut to “hold” from “buy” at UOB-Kay Hian Holdings Ltd. There are “limited catalysts” for the stock in the near term, Vincent Khoo, an analyst at UOB-Kay Hian, wrote in a report today.

Proton Holdings Bhd. (PROH) , a carmaker, gained 2.2 percent to 3.32 ringgit, bound for its biggest increase since March 29. Group Lotus Plc, the British sports car arm of Proton, should be able to break even in 2014, Dany Bahar, the unit’s chief executive officer, told reporters today. Group Lotus’s Lotus Cars Ltd. signed a syndicated financing deal for 270 million pounds ($441.1 million) with six lenders, according to a company statement.

UMW Holdings Bhd. (UMWH) , an automaker, fell 0.7 percent to 7.24 ringgit, headed for the lowest close since March 24, after OSK Research Sdn. said UMW, previously its top pick among Malaysian auto shares, is now its “top sell.” UMW was cut to “sell” from “buy” and its “fair value” reduced to 6.41 ringgit from 8.92 ringgit, OSK analysts led by Chris Eng wrote in a report today.

YTL Corp. (YTL MK), a construction and utilities group, advanced 2.8 percent to 7.67 ringgit, on course for its steepest increase since Nov. 24, after saying it has a cash pile of 12 billion ringgit ($4 billion) which it may use for acquisitions.

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: Reinie Booysen at rbooysen@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.