Malaysia Stocks: Hock Seng Lee, KL Kepong, Muhibbah, Proton
Shares of the following companies may have unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 5 p.m. close in Kuala Lumpur.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index rose 7.37, or 0.5 percent, to 1,540.94, its third day of gains.
Hock Seng Lee Bhd. (HSL) , a construction company, added 3.5 percent to 1.76 ringgit, its biggest gain since April 18. The stock’s “fair value” was raised to 2.50 ringgit from 2.32 ringgit after first-quarter profit climbed 31 percent to 17.7 million ringgit ($5.8 million), according to OSK Research Sdn. in a report today.
Kuala Lumpur Kepong Bhd. (KLK) , a palm oil producer, gained 1.8 percent to 21.88 ringgit, the most since March 4, after second-quarter net income surged 73 percent to 373.9 million ringgit.
Mutiara Goodyear Development Bhd. (MGD) , a property group, advanced 2.2 percent to 1.37 ringgit, its highest close since Feb. 10, after agreeing to buy land in Kuala Lumpur for a commercial project worth more than 1 billion ringgit in potential sales.
Malaysian Airline System Bhd. (MAS) , the national carrier, declined 1.9 percent to 1.55 ringgit, the lowest since December 2001. The airline had a first-quarter loss of 242.3 million ringgit compared with a profit of 310.1 million ringgit a year earlier due to higher fuel costs and a stronger ringgit, according to a company statement.
Muhibbah Engineering (M) Bhd. (MUHI MK), a builder, rose 4.9 percent to 1.73 ringgit, its steepest increase since May 13, after winning a 101 million ringgit contract from Leighton Contractors Pty.
Proton Holdings Bhd. (PROH) , a carmaker, gained 2.4 percent to 3.45 ringgit, the highest close since May 18, after profit in the fourth quarter ended March 31 surged to 61.6 million ringgit from 2.64 million ringgit a year earlier.
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