CB Industrial, Eastern, PLUS, Tenaga: 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 fell 0.4 percent to 1,542.84.
CB Industrial Product Holding Bhd. (CBP) : The farm equipment maker’s first-quarter net income jumped 80 percent from a year earlier to 21.9 million ringgit ($7.3 million) on higher sales, the company said in a statement. The stock was unchanged at 4.30 ringgit.
Eastern & Oriental Bhd. (EAST) : The property developer’s profit in the fourth quarter ended March 31 dropped 72 percent from a year earlier to 12.2 million ringgit, according to a company statement. The stock fell 2.6 percent to 1.49 ringgit.
KNM Group Bhd. (KNMG) : The Malaysian oil and gas services provider scrapped a $350 million exchangeable bond sale, according to a statement to the Kuala Lumpur stock exchange. It didn’t give a reason. The stock lost 2.3 percent to 2.10 ringgit.
Malayan Banking Bhd. (MAY) : Malaysia’s biggest banking group received approval from the Securities Commission to sell as much as 3 billion ringgit of subordinated notes, according to a statement. The money to be raised will be used to fund working capital, general banking and corporate purposes, it said. The shares declined 0.1 percent to 8.84 ringgit.
PLUS Expressways Bhd. (PLUS) : The nation’s largest toll- road operator said first-quarter profit surged 75 percent from a year earlier to 495.1 million ringgit as revenue gained, according to a company statement. The stock fell 0.2 percent to 4.48 ringgit.
Tenaga Nasional Bhd. (TNB) : Malaysia’s biggest power utility will raise electricity charges by an average 7.1 percent starting June 1, according to a company statement. The stock fell 0.9 percent to 6.52 ringgit before it was suspended pending the announcement.
Tradewinds (Malaysia) Bhd. (TWI MK): The oil palm planter’s first-quarter net income climbed 16 percent from a year earlier to 89.9 million ringgit, according to a stock exchange filing. The stock gained 0.8 percent to 10.20 ringgit.
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