Malaysian Stocks: Daya, MHC Plantations, Mitrajaya, Texchem

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of 9:20 a.m. in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index (FBMKLCI) rose 0.2 percent to 1,585.86, headed for its highest close since March 6.

Daya Materials Bhd. (DAYA) , an engineering, construction and oil and gas group, advanced 7.7 percent to 21 sen, on course for its biggest gain since Jan. 11. The company won a 62 million-ringgit ($20 million) construction job in the northern state of Penang, it said in a statement.

MHC Plantations Bhd. (MHC) , an oil-palm and rubber planter, gained 6.3 percent to 1.70 ringgit, poised for a record close. The company proposed 2-for-5 bonus share issue and 2-for- 5 bonus issue of warrants, according to a stock-exchange filing.

Mitrajaya Holdings Bhd. (MHB) climbed 2.6 percent to 59 sen, headed for its steepest increase since March 2. The builder won two construction contracts totaling 102.9 million ringgit, it said in a statement.

Texchem Resources Bhd. (TEX) , which trades speciality chemicals and manufactures industrial packaging products, surged 10 percent to 65 sen. The company agreed to sell a 70 percent stake each in its two Technopia units in Malaysia and Indonesia to Japan’s Fumakilla Ltd. for $42.4 million, according to separate exchange filings.

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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