Malaysian Stock Movers: Naim Indah, Pantech, Pelikan, Perisai
The FTSE Bursa Malaysia KLCI Index (FBMKLCI) climbed 0.2 percent to 1,578.36
Naim Indah Corp. (NIC) , a property developer, dropped 3.8 percent to 63 sen. Naim hasn’t received any proposal for a development plan valued at 500 million ringgit ($166 million), it said in a statement to the stock exchange in response to a report in the Nanyang Siang Pau newspaper.
Pantech Group Holdings Bhd. (PGHB) , a steel-products maker, gained 2.9 percent to 54 sen. Pantech agreed to buy Nautic Steels (Holdings) Ltd. for 9.5 million pounds ($15 million), the Malaysian company said in a statement.
Pelikan International Corp. (PELI) , a Malaysian pen and stationary maker, rose 2.5 percent to 83 sen after proposing a final dividend of one treasury share for every 50 shares held and a cash dividend of 1 sen per share.
Perisai Petroleum Teknologi Bhd. (PPT) , an oil and gas services provider, rose 2.8 percent to 93.5 sen. CIMB Group Holdings Bhd. raised its share-price estimate for the stock to 1.50 ringgit from 1.45 ringgit, saying earnings are “shaping up” for a record year in 2012.
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