Careplus, RHB Capital, Sunway, Talam: 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 0.6 percent to 1,563.43 on June 17.

Careplus Group Bhd. (CPG) : The Malaysian glove producer agreed to form a venture with Descarpack Descartaveis do Brasil Ltda to manufacture and sell rubber gloves in Brazil. The venture may sell the gloves to other countries later, it said in a statement. The stock sank 6.1 percent to 46 sen.

Efficient E-Solutions Bhd. (EES) : Singapore Post Ltd. emerged as a substantial shareholder of the Malaysian data processing company after buying a 10.1 percent stake, a stock exchange filing showed. Efficient E-Solutions was unchanged at 22 sen.

RHB Capital Bhd. (RHBC) : Abu Dhabi Commercial Bank PJSC, the United Arab Emirates’ third-biggest bank, agreed to sell its 24.9 percent stake in Malaysian lender RHB to Aabar Investments PJSC at 10.80 ringgit a share, according to a statement. RHB fell 0.9 percent to 9.75 ringgit.

Sunway Holdings Bhd. (SGW) : The construction and property group scrapped a venture with Dasa Tourist Complex (Private) Ltd. to develop a property project in Sri Lanka, according to a company statement. The stock gained 1.2 percent to 2.61 ringgit.

Talam Corp. (TA MK): The property developer’s net loss in the first quarter ended April 30 widened to 26 million ringgit ($8.6 million) from 1.6 million ringgit a year earlier as sales declined and finance costs rose, according to a company statement. The stock was unchanged at 7.5 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

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