Breaking News

CIT to Buy OneWest Bank for $3.4 Billion in Cash and Stock
Tweet TWEET

Malaysian Stock Movers: Naim Indah, Pantech, Pelikan, Perisai

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) 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.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@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.