Asia Media, Bina Puri, Ho Wah Genting: 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 0.1 percent to 1,556.42.

Asia Media Group Bhd. (AMGB MK): The advertising services provider proposed to raise as much as 18.7 million ringgit ($6.2 million) by selling a 35 percent stake in a private placement. The money raised will be used to fund capital expenditure and working capital, it said in a statement. The stock fell 2 percent to 24.5 sen.

Bina Puri Holdings Bhd. (BIN) : The builder won contracts valued at 6.6 million ringgit to operate two power plants in Indonesia, it said in a statement. Bina declined 1.6 percent to 1.20 ringgit.

CB Industrial Product Holding Bhd. (CBP) : The farm equipment maker agreed to sell two oil palm planters for 268.1 million ringgit, according to a stock exchange filing. The sales will allow CB to focus more on its main business of making palm oil equipment, it said. The stock declined 0.7 percent to 4.26 ringgit.

Ho Wah Genting Bhd. (HWG) : The manufacturer of wires and cables proposed a one-for-four rights offer with warrants to raise as much as 68.4 million ringgit to help repay debt, according to a company statement. The stock fell 5.8 percent to 49 sen.

SMR Technologies Bhd. (SMRT) : The computer software developer won a contract valued at $1.43 million from Abu Dhabi Polymers Co., according to a company statement. The stock was unchanged at 15 sen.

Tiong Nam Logistics Holdings (TNL) Bhd: The transport and warehousing company agreed to buy land in Johor state from UEM Land Bhd. (ULHB MK) for 30.9 million ringgit. Tiong Nam will build a hotel and service apartments on the site, it said in a statement. Shares of Tiong Nam dropped 3.6 percent to 1.07 ringgit. UEM Land slid 0.4 percent to 2.78 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: Darren Boey at dboey@bloomberg.net

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