Malaysian Stocks: Faber, GHL, Malaysian Air, Scomi, Silver Bird

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) rose 0.3 percent to 1,574.30, set for its highest close since July 15.

Faber Group Bhd. (FAB) , a property developer and hospital support-services provider, climbed 2.9 percent to 1.76 ringgit, bound for its biggest gain since Jan. 19. Fourth- quarter profit jumped to 56.4 million ringgit ($19 million) from 2.9 million ringgit a year earlier, according to a stock- exchange filing.

GHL Systems Bhd. (GHLS) , an online transactions provider, slumped 12 percent to 34.5 sen, headed for its largest loss since Nov. 19, 2009. The company’s fourth-quarter net loss widened to 24.7 million ringgit from 11.3 million ringgit a year earlier, it said in an exchange filing.

Malaysian Airline System Bhd. (MAS) , the nation’s largest long-haul carrier, dropped 2.8 percent to 1.39 ringgit, set for its steepest decline since Feb. 23. The airline reported a net loss of 1.28 billion ringgit in the fourth quarter, compared with a profit of 225.9 million ringgit a year earlier, it said in a statement.

Scomi Group Bhd. (SGB) , an oil and gas services provider, slid 5.1 percent to 28 sen, bound for its biggest drop since Sept. 26. Fourth-quarter net loss widened to 242.3 million ringgit from 23.6 million ringgit a year earlier, according to an exchange filing. Its unit Scomi Engineering Bhd. (SEB) slipped 7.6 percent to 55 sen, while associate Scomi Marine Bhd. (SMB) lost 8.1 percent to 40 sen, after reporting losses.

Silver Bird Group Bhd. (SBG) , a bread maker, plunged 49 percent to 20.5 sen, on course for its largest loss on record. The company is investigating possible irregularities in its accounts, it said in a statement. Also, three of its units defaulted on loans and the stock was placed under the exchange’s watchlist of financially ailing companies, it said.

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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