Charter Said to Plan Time Warner Cable Bid Under $140/Share
AirAsia, Hartalega, Malaysian Airline: Malaysia Equity 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 fell 1.7 percent to 1,472.14.
AirAsia Bhd. (AIRA) : AirAsia’s biggest shareholder agreed to swap a 10 percent stake in Asia’s largest low-cost carrier for 20.5 percent of Malaysian Airline System Bhd. (MAS) , forging ties between the nation’s two biggest carriers.
Tune Air Sdn. will trade shares with government-controlled Khazanah Nasional Bhd., according to a joint statement by the companies. AirAsia last traded at 3.95 ringgit before it was suspended on Aug. 8. Malaysian Air last traded at 1.60 ringgit before its share suspension.
Al-Hadharah Boustead REIT (BIRT) : The Islamic oil-palm plantation trust, which owns and invests in plantation assets and mills, said second-quarter profit rose 50 percent to 23.9 million ringgit ($7.9 million), according to a stock filing. The trust was unchanged at 1.42 ringgit.
Genting Bhd. (GENT) : The casino and power group bought back 2.23 million of its shares for 22.4 million ringgit, a stock exchange filing showed. Genting slid 0.8 percent to 10.06 ringgit.
Hartalega Holdings Bhd. (HART) : The Malaysian producer of synthetic and latex gloves said profit for the first quarter ended June 30 rose 32 percent from a year earlier to 54.8 million ringgit as sales climbed, according to a company statement. The stock dropped 0.9 percent to 5.39 ringgit.
MBf Holdings Bhd. (MBFH) : The credit card, property and auto group said second-quarter profit surged to 79.7 million ringgit from 6.94 million ringgit a year earlier, bolstered by one-time gains from a fair-value adjustment of its investment properties. The stock fell 7.8 percent to 53 sen.
TDM Bhd. (TDM) : The Malaysian palm oil producer said second-quarter net income more than doubled from a year earlier to 32 million ringgit, according to a company statement. The stock fell 3.1 percent to 2.84 ringgit.
Yung Kong Galvanizing Industries Bhd. (YKGI MK): The manufacturer of steel products withdrew its application to list its Starshine Holdings Bhd. unit because of “current market conditions” and pending further reorganization of the group, according to a company statement. The stock slid 2.2 percent to 44 sen.
To contact the editor responsible for this story: Darren Boey at email@example.com