Bandar Raya, DXN, Ingress, Mesiniaga: 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.

Malaysia’s FTSE Bursa Malaysia KLCI (FBMKLCI) Index fell 0.7 percent to 1,463.12.

Bandar Raya Developments Bhd. (BRD) : The property developer said a major shareholder proposed to acquire its malls and offices. Ambang Sehati Sdn., which owns 19 percent of Bandar Raya, wants the company to “monetize” selected assets to achieve a more efficient utilization of capital, it said in a statement. The shares fell 0.4 percent to 2.32 ringgit.

DXN Holdings Bhd. (DXN) : The manufacturer of health food supplements and products has received a buyout offer at 1.75 ringgit apiece from a group of shareholders owning 67 percent, according to a stock filing. The stock fell 0.7 percent to 1.42 ringgit.

Dijaya Corp. (DJC MK): The property developer agreed to buy 198.5 acres of land in Kajang Hill for 228 million ringgit from Taiyo Resort (KL) Bhd. Dijaya will build homes, condominiums and shop offices on the land with a gross development value of 2 billion ringgit, it said in a statement. Dijaya fell 0.7 percent to 1.48 ringgit.

Ingress Corp. (INGC MK): The Malaysian auto-parts and engineering services group said it won four contracts valued at 67.9 million ringgit from Tenaga Nasional Bhd. (TNB MK). Ingress won one of the contracts with Infrarail Sdn., it said in a statement. Ingress dropped 1.8 percent to 81.5 sen.

Mesiniaga Bhd. (MESI) : The Malaysian computer-services company won a 167 million ringgit contract from Telekom Malaysia Bhd. (T MK), according to a company statement. The shares were unchanged at 1.85 ringgit. Telekom added 0.5 percent to 4.38 ringgit.

Permaju Industries Bhd. (PERM) : The timber group said its automotive unit Cergazam Sdn. plans to cancel agreements to act as a retailer of Chevrolet vehicles in two locations including Penang state. Permaju was unchanged at 30 sen.

To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at thchan@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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