ECM Libra, KYM Holdings, SP Setia, WCT: 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 2.2 percent to 1,387.81.
ECM Libra Financial Group Bhd. (ECML) : The stockbroker and corporate finance group said profit in the second quarter ended July 31 almost tripled to 14.6 million ringgit ($4.6 million) from 5.1 million ringgit a year earlier, according to a company statement. ECM lost 9.2 percent to 69.5 sen.
KYM Holdings Bhd. (KYM) : The investment group signed a preliminary agreement with PT Samana Citra Agung to develop an iron sand mining project in Aceh province, Sumatra, according to a stock exchange statement. KYM dropped 2.9 percent to 1.65 ringgit.
Petronas Chemicals Group Bhd. (PCHEM) : The Employees Provident Fund, Malaysia’s largest pension fund, bought 3.96 million shares in the Malaysian chemicals company, stock filings showed. The shares fell 4.7 percent to 5.54 ringgit.
SP Setia Bhd. (SPSB) : The Malaysian property developer’s profit in the third quarter ended July 31 rose 4.6 percent from a year earlier to 91.2 million ringgit, according to a stock- exchange filing. The company is “highly confident” of meeting its full-year sales target of 3 billion ringgit, it said. The shares fell 4.1 percent to 3.06 ringgit.
WCT Bhd. (WCT MK): The construction company signed an agreement with Malaysia Airports Holdings Bhd. giving it the rights to build and operate an integrated complex costing 530.3 million ringgit at a new low-cost carrier terminal being built in Sepang. WCT slid 4.2 percent to 2.06 ringgit.
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