Malaysian Stocks: Alliance Financial, Johan, SEG International
The FTSE Bursa Malaysia KLCI Index (FBMKLCI) rose for a third day, adding 0.1 percent to 1,598.38, poised to extend its gains to a record.
Alliance Financial Group Bhd. (AFG) advanced 2.3 percent to 3.98 ringgit, on course for its highest close since Jan. 3. Singapore’s DBS Bank Ltd. received approval from Malaysia’s central bank to start talks with a unit of Fullerton Financial Holdings Pte. to acquire an effective 14 percent of Alliance, according to a filing to the Singapore stock exchange.
Johan Holdings Bhd. (JOH) , a ceramic tile maker, dropped 4.4 percent to 22 sen, headed for its steepest decline since March 19. Its fourth-quarter net loss widened to 18.3 million ringgit ($6 million) from 15.6 million ringgit a year earlier, according to a stock-exchange filing.
SEG International Bhd. (SYS) , a college operator, fell 1.1 percent to 1.78 ringgit. Navis Capital, a private equity company, bought a 37.5 percent stake in SEG through off-market transactions and may offer to buy out the company at 1.71 ringgit per share, the Business Times reported, citing people it didn’t identify. SEG will make an announcement to the stock exchange today in response to the news report, said an official who declined to be named because of company policy.
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