Malaysia Stocks: Eastern, Fajarbaru, IOI, Malaysian Bulk, Sime
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 5 p.m. close in Kuala Lumpur.
Malaysia’s FTSE Bursa Malaysia KLCI (FBMKLCI) Index fell 4.41, or 0.3 percent, to 1,464.74, the lowest close since Oct. 4.
Eastern Pacific Industrial Corp. (EPIC MK), an oil and gas services provider, rose 4.1 percent to 3.05 ringgit, its highest close since July 2007. Eastern received a joint buyout offer of 3.10 ringgit a share from Lembaga Tabung Amanah Warisan Negeri Terengganu and Pembinaan PTB Sdn., according to a company statement.
Fajarbaru Builder Group Bhd. (FBC) , a builder, slid 3.7 percent to 92 sen, its lowest close since Aug. 12, 2010, after net income in the fourth quarter ended June 30 tumbled 80 percent to 2.06 million ringgit ($690,000).
IOI Corp. (IOI MK), a palm oil planter, added 2.4 percent to 4.78 ringgit, its highest since Aug. 5. IOI was upgraded to “buy” from “hold” at Maybank Investment Bank Bhd., which said the stock’s recent decline made it a “good trading opportunity.”
Malaysian Bulk Carriers Bhd. (MBC) , a vessel operator, lost 4.5 percent to 1.92 ringgit, the lowest close since September 2006, after second-quarter profit dropped 31 percent to 21.9 million ringgit.
Sime Darby Bhd. (SIME) , the world’s biggest publicly traded palm oil producer, advanced 1.2 percent to 8.80 ringgit, the largest increase since May 11. Sime turned to a profit of 1.31 billion ringgit in the fourth quarter ended June 30 compared with a loss of 77.4 million ringgit a year earlier, it said in a statement.
Wah Seong Corp. (WSC MK), a pipe-coating company, climbed 2.9 percent to 2.14 ringgit, the most since Aug. 12, after second-quarter profit surged to 26.2 million ringgit from 1.7 million ringgit a year earlier.
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