Berjaya, Genting, United Malayan Land: 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 0.4 percent to 1,567.35.
Berjaya Corp. (BC MK): The property and gaming group scrapped talks to sell its stockbroking business to Kim Eng Holdings Ltd. because they couldn’t agree to the terms of the sale, it said in a statement. Berjaya added 3.5 percent to 1.17 ringgit.
Genting Bhd. (GENT) : The gaming and plantation group hired CIMB Group Holdings Bhd., HSBC Holdings Plc, Malayan Banking Bhd. and UBS AG to help it sell three-year, yuan- denominated bonds in Hong Kong, according to two people familiar with the matter. The senior unsecured notes, to be sold by Genting’s Hong Kong unit, may be issued as early as this week, the people said, asking not to be identified as details are private. The stock rose 2.8 percent to 11.20 ringgit.
Sapura Industrial Bhd. (SAPU) : The auto components maker said first-quarter net income rose 12.6 percent to 5.2 million ringgit ($1.7 million), according to an exchange filing. The stock gained 1.9 percent to 1.58 ringgit.
United Malayan Land Bhd. (UML) : The Malaysian property developer plans to roll out property projects with a gross development value of almost 1 billion ringgit this year, it said in a statement. The stock added 1.6 percent to 1.90 ringgit.
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