Malaysian Stocks: Encorp, Fajarbaru, K-Star, Sime, Tradewinds

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the close in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index (FBMKLCI) rose 0.8 percent to 1,569.65, its highest close since July 15. The gauge gained 3.2 percent this month.

Encorp Bhd. (ENCO) , a property developer, added 1.3 percent to 78 sen, its highest close since Feb. 23. The company will develop a golf resort in Cherating on the east coast, according to a government statement. Encorp’s fourth-quarter profit jumped to 25.1 million ringgit ($8.4 million) from 1.6 million ringgit a year earlier, it said in a stock-exchange filing.

Fajarbaru Builder Group Bhd. (FBC) climbed 2 percent to 1.01 ringgit, its biggest gain since Feb. 10. The construction company won a 67 million-ringgit contract from Subang SkyPark Sdn., Fajarbaru said in a statement.

K-Star Sports Ltd. (KSTR) , a China-based maker of sports footwear, slid 8.6 percent to 26.5 sen, its largest loss since Aug. 22. It reported fourth-quarter net loss of 9.3 million ringgit, compared with a net income of 11.4 million ringgit a year earlier, according to an exchange filing.

PJI Holdings Bhd. (PJIH) , an engineering services group, gained 3.1 percent to 16.5 sen. The company secured two contracts valued at a total of 32 million ringgit, it said in a statement.

Sime Darby Bhd. (SIME) , the country’s biggest listed palm oil producer, rose 1.3 percent to 9.69 ringgit, the most since Feb. 8. Second-quarter net income grew to 1.1 billion ringgit from 877.1 million ringgit a year earlier, it said in a statement. The company declared a dividend of 10 sen per share.

Tradewinds (Malaysia) Bhd. (TWI) , an oil palm planter, fell 2.1 percent to 9.89 ringgit, its largest drop since Nov. 25. Fourth-quarter net income declined 37 percent from a year earlier to 121.5 million ringgit, the company said in an exchange filing.

TSM Global Bhd. (TSM) , an auto-parts manufacturer, jumped 7.1 percent to 1.20 ringgit, the most since Feb. 15. The company received a takeover offer from West River Capital Sdn. for 159.2 million ringgit or 1.25 ringgit per share, TSM said in a statement.

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

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.