Malaysian Stocks: Cahya, KKB, LPI Capital, Premium Nutrients
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 12:30 p.m. break in Kuala Lumpur.
The FTSE Bursa Malaysia KLCI Index fell 3.46, or 0.2 percent, to 1,586.78, its second day of declines. The gauge has climbed 0.2 percent this week, set for its fourth weekly gain.
Cahya Mata Sarawak Bhd. (CMS) gained 3.2 percent to 2.25 ringgit, the largest jump since May 27. The construction company said it will partner OM Materials (S) Pte to build a manganese ferro silicon smelting plant in Malaysia’s Sarawak state at a cost of $450 million. The plant will have an annual capacity of 600,000 metric tons, Cahya said in a statement.
KKB Engineering Bhd. (KKB) , an engineering and construction group, added 2.1 percent to 1.97 ringgit, headed for the highest close since May 10, after the company won an earthworks contract valued at 70 million ringgit ($23 million) from OM Materials (Sarawak) Sdn.
LPI Capital Bhd. (LPI) , an insurer, climbed 1.7 percent to 14.04 ringgit, bound for the highest close since Jan. 10, after profit in the second quarter ended June 30 rose 19 percent from a year earlier to 31.4 million ringgit.
Premium Nutrients Bhd. (PRNB) , a palm oil processor, advanced 18 percent to 23.5 sen, set for the steepest increase since December 2009, after completing the sale of three of its main businesses to Agro Asia Pacific Ltd. for 118 million ringgit.
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