Malaysia Stocks: RHB, Kumpulan Hartanah, Karambunai, Zelan
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.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index fell 1.87 points, or 0.1 percent, to 1,556.42.
Banks: RHB Capital Bhd. (RHBC) jumped 7.4 percent to 9.90 ringgit. CIMB Group Holdings Bhd. (CIMB) and Malayan Banking Bhd. (MAY) won separate central bank approvals to begin competing merger talks with RHB Capital, according to company statements.
CIMB slipped 0.2 percent to 8.35 ringgit. Malayan Banking declined 1.6 percent to 8.77 ringgit.
Kumpulan Hartanah Selangor Bhd. (KHSB) , a property group, tumbled 5.9 percent to 32 sen, the lowest close since March 30, 2009. The company reported a 48 million-ringgit ($16 million) loss in the first quarter, compared with a profit of 1.46 million ringgit a year earlier.
Karambunai Corp. (KRBN MK), a resort operator, slid 7.3 percent to 19 sen, its steepest drop since March 2, after its fourth-quarter net loss widened to 316.8 million ringgit from 15.5 million ringgit a year earlier.
Zelan Bhd. (ZELN) , a builder, gained 6.4 percent to 41.5 sen, its biggest gain since April 5. The company signed a preliminary agreement with Tradewinds Corp. (TWC MK) to jointly submit a tender for a hospital development project.
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