Bina Goodyear, CBSA, Gamuda, HPI, Scomi: 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 0.5 percent to 1,556.19.

Bina Goodyear Bhd. (BGB) : The Malaysian builder has set the issue price for its private placement at 1 ringgit per share, the company said in a statement. That’s 21 percent higher than the five-day weighted average market price of about 82.5 sen, it said. The shares gained 11 percent to 88.5 sen.

CBSA Bhd. (CBS MK): The software solutions developer signed a content license agreement to provide with Google Inc. with business listings for Google maps in Malaysia, Singapore, Indonesia, Thailand, Philippines and Vietnam. The agreement is for five years, CBSA said in a statement. CBSA fell 1.2 percent to 41.5 sen.

Gamuda Bhd. (GAM) : The builder and MMC Corp. (MMC MK) agreed to form a venture to bid for tunneling and other underground contracts on a mass railway project, according to an exchange filing. Gamuda fell 0.5 percent to 3.73 ringgit and MMC added 0.7 percent to 2.74 ringgit.

HPI Resources Bhd. (HPI) : Oji Paper Co., Japan’s biggest maker of paper and forest products, made an offer to buy HPI Resources for 4.40 ringgit per share in cash. That’s a 12 percent premium to the stock’s closing price of 3.93 ringgit in Kuala Lumpur on June 14 before its shares were suspended. HPI is a manufacturer of corrugated board and packaging products.

Progressive Impact Corp. (PICB MK): The environmental consulting group won a 7.1 million-ringgit ($2.3 million) contract to develop a health monitoring program in Makkah City, Saudi Arabia, according to a stock exchange filing. Progressive was unchanged at 24 sen.

Scomi Marine Bhd. (SMB) : The marine transport company scrapped the sale of its marine logistics companies to PT Rig Tenders Indonesia and a privately managed fund for $171.8 million. The sale was abandoned because some conditions of the agreement weren’t fulfilled, Scomi Marine said in a statement. The shares rose 3.5 percent to 45 sen.

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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.