Malaysia Stocks: Guinness, JT International, KNM Group, Tenaga
Shares of the following companies may have unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the close in Kuala Lumpur.
Malaysia’s FTSE Bursa Malaysia KLCI (FBMKLCI) Index fell 3.01, or 0.2 percent, to 1,397.04, its first drop in four sessions.
Guinness Anchor Bhd. (GUIN) added 2.2 percent to 10.12 ringgit, the biggest gain since Sept. 27 and JT International Bhd. (RJR) rose 4.5 percent to 6.06 ringgit, after the government refrained from raising taxes for tobacco and alcohol in last week’s budget. JT International and brewer Guinness are beneficiaries, OSK Holdings Bhd. said in a report today.
KNM Group Bhd. (KNMG) , an oil and gas services provider, slid 2.4 percent to 1.20 ringgit. KNM will miss its internal targets for this financial year after delays to a project with Peterborough Renewable Energy Ltd., it said in a statement.
Tenaga Nasional Bhd. (TNB) , Malaysia’s biggest power producer, slid 1.7 percent to 5.29 ringgit, its biggest drop since Oct. 3. The government’s budget, aimed at alleviating the rising cost of living, will diminish any prospects for an increase in electricity rates this year, ECM Libra Capital Sdn. wrote in a report today. Tenaga’s full-year earnings results due on Oct. 28 may also miss consensus earnings because of higher fuel costs, Citigroup Inc. said in a separate report.
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