Berjaya, KrisAssets, Mclean, Smelting: 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 0.3 percent to 1,519.41.

Berjaya Corp. (BC MK): The property, insurance and gaming group agreed to sell its 40 percent stake in Berjaya Sompo Insurance Bhd. to Sompo Japan Asia Holdings Pte. for 496 million ringgit ($166 million) in cash, according to an exchange filing. Berjaya fell 0.9 percent to 1.05 ringgit.

Bertam Alliance Bhd. (BERT) : The developer signed an agreement to jointly build residential and commercial real estate on 270 acres of land in Malaysia’s southern Johor state, according to an exchange filing. Bertam was unchanged at 88 sen.

KrisAssets Holdings Bhd. (KRIS) : The office and shopping mall operator said in a statement first-quarter net income rose to 35.4 million ringgit from 27 million ringgit a year earlier. The stock fell 0.2 percent to 4.23 ringgit.

Malaysia Smelting Corp. (SMELT MK): The tin producer reported a first-quarter profit of 28.3 million ringgit compared with a 29.1 million ringgit loss a year earlier, according to an exchange filing. Its shares were unchanged at 4.38 ringgit.

Mclean Technologies Bhd. (MTB MK): The Malaysian provider of precision cleaning services for hard disk drives will start trading on the Kuala Lumpur stock exchange. The company sold shares at 52 sen each, according to its listing prospectus.

MWE Holdings Bhd. (MWE) : The Malaysian yarn and fabric manufacturer agreed to form a joint venture with Shinco Enterprise Corp. to operate a textile and apparel manufacturing plant in Indonesia, the company said in a statement. MWE lost 1.5 percent to 1.29 ringgit.

Permaju Industries Bhd. (PERM) : The timber group received 14.5 million ringgit in settlement from Ma Bin Hing and Chai Kin Loong, according to a Kuala Lumpur stock exchange filing. Permaju last traded at 39 sen on May 4.

V.S. Industry Bhd. (VSI MK): The electronics parts and components manufacturer was appointed by Keurig Inc., a unit of Green Mountain Coffee Roasters Inc., to manufacture coffee makers, according to a company statement. The stock was unchanged at 1.85 ringgit.

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

To contact the editor responsible for this story: Reinie Booysen in Singapore at rbooysen@bloomberg.net

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