Malaysian Stocks: Ahmad Zaki, Alan Maritim, Bumi Armada, Kimlun
The FTSE Bursa Malaysia KLCI Index (FBMKLCI) rose less than 0.1 percent to 1,589.91, its fifth day of gains and the longest winning streak since Feb. 9.
Ahmad Zaki Resources Bhd. (AZR) lost 2.1 percent to 93 sen, the lowest close since Feb. 8. The construction company was cut to “neutral” from “trading buy” at OSK Holdings Bhd.
Alan Maritim Resources Bhd. (AMRB) lost 3.2 percent to 76 sen, the biggest loss since Jan. 31. The oil and gas services provider had the outlook on its 600 million-ringgit ($198 million) Islamic bonds cut to “negative” from “stable” at Malaysian Rating Corp.
Bumi Armada Bhd. (BAB) (BAB MK) increased 1.7 percent to a record 4.20 ringgit. The offshore oilfield services provider was rated “buy” in new coverage at Maybank Investment Bank Bhd., which said the company offers a niche exposure to the floating production, storage and offloading market.
Kimlun Corp Bhd. (KICB) gained 1.3 percent to 1.53 ringgit, its highest close since Feb. 21. The company won a 68.3 million-ringgit ($23 million) building contract, according to a statement to the Malaysia stock exchange.
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