Malaysia Stock Movers: Affin, Atis Corp., Guinness, Masterskill
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index dropped 22.46 points, or 1.5 percent, to 1,524.43, its steepest decline since Feb. 10. The gauge lost 1.6 percent this week, its fourth weekly drop.
Affin Holdings Bhd. (AHB) , a banking group, slid 2.7 percent to 3.30 ringgit, the most since May 25. Affin has scrapped an agreement to acquire PT Bank Ina Perdana because of a study being done by Indonesia’s central bank to limit majority shareholdings in banks there. Affin may renegotiate the terms of the proposal after the policy is released, the bank said in a statement.
Atis Corp. (ATIS MK), an industrial equipment supplier, jumped 7 percent to 1.23 ringgit, its highest close since July 30, 2010, after proposing a capital repayment of 1.30 ringgit a share.
Guinness Anchor Bhd. (GUIN) , Malaysia’s biggest brewer by market value, declined 1.3 percent to 10.72 ringgit, the steepest drop since July 7. The stock was cut to “hold” from “buy” at Maybank Investment Bank Bhd.
Masterskill Education Group Bhd. (MASEG) , Malaysia’s largest operator of non-government nursing colleges, fell 3.7 percent to 1.84 ringgit, the most since May 30. HwangDBS Vickers Research Sdn. cut its share estimate to 2.50 ringgit from 3.25 ringgit to reflect slower growth prospects.
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