Malaysia Stocks: Favelle, Jotech, Kossan Rubber, Malton, RHB
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.
Malaysia’s FTSE Bursa Malaysia KLCI (FBMKLCI) Index fell 2.99, or 0.2 percent, to 1,541.03, set for its highest close since April 8, its first drop in three days. The gauge was little changed this week.
Favelle Favco Bhd. (FFB) , a crane maker, gained 5 percent to 1.47 ringgit, its highest close since June 2008. The company said in a statement that it received orders totaling 50.3 million ringgit ($17 million).
Jotech Holdings Bhd. (JTEC) , a precision tool maker, climbed 7.7 percent to 14 sen, its largest increase since March 16 after first-quarter profit surged fivefold from a year earlier to 7.83 million ringgit.
Kossan Rubber Industries (KRI) Bhd, a rubber-glove maker, declined 1.6 percent to 3.18 ringgit, its biggest drop since April 14. First-quarter net income fell 24 percent to 23 million ringgit in the three months ended March 31 on higher latex costs, the company said in an exchange filing.
Malton Bhd. (MALT) , a property developer, rose 4.6 percent to 80 sen, its highest close since Jan. 17. Profit in the third quarter ended March 31 surged sevenfold to 26.3 million ringgit from 3.65 million ringgit a year earlier, according to a stock exchange filing.
RHB Capital Bhd. (RHBC) : The lender rose 1.7 percent to 9.25 ringgit, its highest close since April 1997. Sumitomo Mitsui Financial Group Inc. offered to buy a 25 percent stake in Malaysia’s fourth-largest bank by assets, two people with knowledge of the matter said. Carlyle Group, the Washington- based private equity firm, is also considering a bid, people familiar with the process said, declining to be identified.
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