Malaysian Stocks: Berjaya Assets, Frontken, Mitrajaya, Tenaga

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 12:30 p.m. trading break in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index (FBMKLCI) fell 0.7 percent to 1,511.94, set for the steepest decrease since Jan. 3.

Berjaya Assets Bhd. (BJAB) , a property management and trading company, added 1.2 percent to 84 sen, the most since Jan. 5. The company sold 12 million Berjaya Corp. (BC MK) shares for 11.3 million ringgit ($3.6 million), it said in a stock exchange filing. Berjaya Corp. was unchanged at 93 sen.

Frontken Corp. (FRCB) , an engineering group, rose 4.4 percent to 12 sen. Executive Chairman Wong Hua Choon ceased to be substantial shareholder after selling a 5.9 percent stake to Jorg Helmut Hohnloser, according to stock exchange filings.

Mitrajaya Holdings Bhd. (MHB) , a builder, gained 2.1 percent to 49.5 sen. The company secured 33.4 million ringgit of contracts to build houses and offices, it said in a statement.

Press Metal Bhd. (PRESS) , a maker of aluminum products, gained 2.2 percent to 1.89 ringgit, headed for its highest close since Oct. 31. It invested 3 billion ringgit in its second smelting plant in the eastern Sarawak state to increase total production capacity from September, Bernama reported, citing Executive Vice-President Koon Poh Ming. Koon wasn’t available for comment when phoned at his office in Selangor today.

Tenaga Nasional Bhd. (TNB) , the country’s biggest power producer, fell 1.8 percent to 6.12 ringgit, the most since Dec. 7. The stock was downgraded to “market perform” from “trading buy” at RHB Capital Bhd. on its recent share-price increase and expectations of a first-quarter loss, Lim Tee Yang, an analyst, wrote in a report today.

To contact the reporter on this story: Gan Yen Kuan in Kuala Lumpur at ykgan@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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