Axiata, Crescendo, Hwang-DBS, YTL: 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 rose 2.4 percent to 1,364.20.

Axiata Group Bhd. (AXIATA) : The Employees Provident Fund, the second-biggest shareholder of Axiata, bought 3.6 million shares in the mobile-phone operator, a stock exchange filing showed. The stock gained 1.1 percent to 4.62 ringgit.

Bonia Corp. (BON MK): The retailer of leather goods, clothes, watches and eyewear set up a wholesaling unit in Indonesia, according to a stock exchange statement. Bonia added 6.7 percent to 1.60 ringgit.

Crescendo Corp. (CCDO MK): The property developer’s profit in the second quarter ended July 31 surged 60 percent from a year earlier to 14.6 million ringgit ($4.6 million) on higher revenue, according to a company statement. The stock rose 3.1 percent to 1.34 ringgit.

George Kent (Malaysia) Bhd. (GKEN MK): The water treatment company and supplier of water tanks said profit in the second quarter ended July 31 climbed 12 percent to 5.65 million ringgit, according to a stock exchange filing. George Kent fell 1 percent to 1.04 ringgit.

Hwang-DBS (Malaysia) Bhd. (HDBS MK): The Malaysian stock brokerage’s net income in the fourth quarter ended July 31 surged 92 percent from a year earlier to 24.4 million ringgit, according to a stock exchange filing. The stock last traded at 2 ringgit on Sept. 26.

YTL Corp. (YTL MK): The Malaysian utilities, cement and property group spent 9.2 million ringgit buying back 6.75 million of its own shares, stock filings showed. YTL rose 3 percent to 1.36 ringgit.

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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