Malaysia Smelting, SapuraCrest, 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 fell 1.4 percent to 1,367.52.

Malaysia Smelting Corp. (SMELT MK): The Democratic Republic of Congo is in “very advanced talks” with Malaysia Smelting, a tin producer, to build a cassiterite foundry in eastern Congo, Mines Minister Martin Kabwelulu said. Malaysia Smelting was unchanged at 3.56 ringgit.

Malayan Banking Bhd. (MAY) : The Employees Provident Fund, Malaysia’s biggest pension fund, bought 6.3 million shares in the nation’s largest banking group, a stock exchange filing showed. Maybank, as the lender is known, slid 1.1 percent to 7.91 ringgit.

Petronas Chemicals Group Bhd. (PCHEM) : The Employees Provident Fund, Malaysia’s largest pension fund, bought 8.2 million shares in the Malaysian chemicals company, stock filings showed. The shares fell 1.4 percent to 5.48 ringgit.

SapuraCrest Petroleum Bhd. (SCRES) : The oil and gas services provider said it affiliate unit won a 99.5 million- ringgit ($31 million) contract to build a platform supply vessel for Tanjung Offshore Bhd. (TOFF MK). The stock fell 4.6 percent to 3.51 ringgit.

SP Setia Bhd. (SPSB) : Malaysia’s biggest listed developer by sales agreed to buy 673.3 acres of land in Selangor state for 381.3 million ringgit. The stock was unchanged at 3.89 ringgit.

YTL Corp. (YTL MK): The Malaysian utilities, cement and property group spent 2.7 million ringgit buying back 2 million of its own shares, a stock filing showed. YTL rose 0.8 percent to 1.34 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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