Malaysia Stocks: Alam Maritim, KKB, Petronas Dagangan, Utusan
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. trading break in Kuala Lumpur.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index rose 7.81 points, or 0.5 percent, to 1,484.27. The gauge has fallen 2.6 percent this week, set for its fifth straight drop, the longest string of weekly losses since October 2008.
Alam Maritim Resources Bhd. (AMRB) , an oil and gas marine services provider, climbed 4.6 percent to 79.5 sen, set for its biggest gain since April 20. Alam won contracts totaling 20.2 million ringgit ($6.8 million) from local companies including Petronas Carigali Sdn., according to an exchange filing.
KKB Engineering Bhd. (KKB) , an engineering and construction group, rose 1.8 percent to 1.73 ringgit. KKB won a 19.4 million-ringgit contract to supply water pipes and fittings to Kumpulan Bina Emas Sdn., according to a company statement.
Petronas Dagangan Bhd. (PETD) , the retailing arm of Malaysia’s state oil and gas company, climbed 1.6 percent to 16.80 ringgit, bound for its biggest advance since July 20. Petronas Dagangan has started selling fuel oil in Indonesia, and announced a dividend payout target of about 55% of profit, Norziana Mohd Inon, an analyst at CIMB Group Holdings Bhd., wrote in a report today.
Utusan Melayu (Malaysia) Bhd. (UTUS MK), a newspaper publisher, added 3.5 percent to 74 sen after saying its net loss in the second quarter narrowed to 473,000 ringgit, from 5.07 million ringgit a year earlier.
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