Aeon Credit, Maxwell, Tenaga, YTL Power: Malaysia Stock 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 rose 0.2 percent to 1,548.51.

Aeon Credit Service (M) Bhd. (ACSM MK): The consumer financing provider’s fiscal first-quarter net income rose 45 percent from a year earlier to 19.2 million ringgit ($6.3 million), according to a company statement. Aeon Credit rose 1.7 percent to 4.90 ringgit.

Maxwell International Holdings Bhd. (MAXWLL MK): The China-based sports shoemaker said it will seek shareholder approval for its proposal to buy back 10 percent of the company’s outstanding capital, according to a stock filing. The shares were unchanged at 50 sen.

Petrol One Resources Bhd. (PORB MK): The provider of storage facilities for oil and gas products plans to form a joint venture in Thailand with Nathalin Offshore Co. to invest in a new vessel. The venture will help expand its vessel fleet, it said in a statement. The stock fell 0.6 percent to 1.58 ringgit.

Systech Bhd. (SYTC MK): The technology-based company will trade for the first time in place of Viztel Solutions Bhd. (VIZ), a communications software provider which completed a restructuring to restore its finances. The reference price for Systech is 22 sen and the trading limit will be 30 sen above the reference price, the stock exchange said in a statement.

Tenaga Nasional Bhd. (TNB) : Malaysia’s state-controlled power producer signed an agreement with Laraib Energy Ltd. to operate a hydroelectric power complex in Pakistan, according to a company statement. The shares lost 1.2 percent to 6.60 ringgit.

YTL Power International Bhd. (YTLP) : The Employees Provident Fund, Malaysia’s largest pension fund, bought 3.05 million shares in the independent power producer, raising its stake to 10.2 percent, a stock exchange filing shows. The shares were unchanged at 2.15 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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