Malaysia Stocks: Bina, Catcha, C.I. Holdings, Kurnia, Tenaga
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. local-time break in Kuala Lumpur.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index fell 2.65, or 0.2 percent, to 1,563.16, the first drop in three days. The gauge has lost 0.9 percent this week, the second weekly decline.
Bina Puri Holdings Bhd. (BIN) , a construction company, rose 3.1 percent to 1.32 ringgit, set for its biggest gain since July 13, after winning a 388.7 million ringgit ($130 million) contract to build an administrative center in the eastern Malaysian state of Sabah.
Catcha Media Bhd. (CHM MK), a publisher and on-line media business operator, rose 13 percent to 84.5 sen on its first trading day. The company sold shares at 75 sen each in its initial public offering.
C.I. Holdings Bhd. (CIH MK), a beverage group, surged 12 percent to 4.57 ringgit, headed for the steepest gain since March 23, 2009. It agreed to sell its Permanis Sdn. bottling unit to Asahi Group Holdings Ltd. for 820 million ringgit, according to a company statement. C.I. will either seek to acquire new businesses or distribute cash to shareholders, it said.
Kurnia Asia Bhd. (KUAB) advanced 4.7 percent to 55.5 sen after saying it received central bank approval to begin talks with companies interested in buying a stake in its insurance unit, Kurnia Insurans (Malaysia) Bhd. It didn’t name the potential buyers.
Tenaga Nasional Bhd. (TNB) , Malaysia’s biggest power producer, slid 4.8 percent to 6.21 ringgit, headed for the lowest close since May 25. Tenaga had a net loss of 440.2 million ringgit in the third quarter ended May 31, compared with a profit of 1.11 billion ringgit a year earlier, because of higher generation costs, according to a company statement.
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