Malaysia Equity Movers: Deleum, Inari, Kinsteel, Zelan

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. break in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index (FBMKLCI) rose for a third day, climbing less than 0.1 percent to 1,580.22. The gauge has gained 0.1 percent this week.

Deleum Bhd. (DLUM) , an equipment and services provider for oil and gas companies, gained 4.5 percent to 2.31 ringgit, heading for the highest close since June 2008. The company proposed a one-for-two bonus share issue, it said in a statement to the stock exchange.

Inari Bhd. (INRI) (INRI MK), a semiconductor packaging services company, dropped 2.6 percent to 37 sen, poised for the biggest decline since Feb. 3. The company aims to raise 1.9 million ringgit from the sale of 5 million new shares, it said in a regulatory filing.

Kinsteel Bhd. (KSB) , a steelmaker, climbed 1 percent to 50 sen. The company is “streamlining” its downstream business operations to help cut costs and is reviewing various options for a unit that produces and sells steel beams.

Zelan Bhd. (ZELN) , a builder, jumped 5.3 percent to 49.5 sen, set for the largest increase since Feb. 28. Zelan signed a concession agreement with the government to develop and operate the Gombak integrated transport terminal, the company said in a statement. The construction cost will be about 307.4 million ringgit, it said.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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