Adventa, Kulim, Sindora, SP Setia: 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 0.5 percent to 1,371.55.

Adventa Bhd. (ADV) : The rubber glove maker’s profit in the third quarter ended July 31 dropped 51 percent from a year earlier to 4 million ringgit ($1.3 million), according to a company statement. The stock slid 2.7 percent to 1.46 ringgit.

Analabs Resources Bhd. (ALR) : The provider of industrial waste recycling services said profit in the first quarter ended July 31 rose 13 percent to 3.5 million ringgit. The stock was unchanged at 1.42 ringgit.

Kulim Malaysia Bhd. (KUL) : The palm oil producer said it has raised its buyout offer for its oil and gas shipping subsidiary Sindora Bhd. (SDRA) to 3.10 ringgit a share from 3 ringgit a share. Kulim was unchanged at 3.38 ringgit. Sindora added 1.3 percent to 3.02 ringgit.

SP Setia Bhd. (SPSB) : Malaysia’s biggest listed developer by sales said shareholder Permodalan Nasional Bhd., or PNB, offered 3.90 ringgit a share for the rest of the company, Maybank Investment Bank Bhd. said in a statement.

SP Setia said in a separate statement that PNB’s offer undervalues the company and that it will seek a competing offer. SP Setia will also ask PNB whether it’s interested in raising its bid, it said. The stock surged 13 percent to 3.50 ringgit on Sept. 27. It was suspended yesterday for the announcement.

Sapura Industrial Bhd. (SAPU) : The auto components maker said profit in the second quarter ended July 31 rose 12 percent to 7.2 million ringgit, according to an exchange filing. The stock fell 1.9 percent to 1.05 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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.