Malaysian Stocks: Kejuruteraan Samudra, Silver Bird, Zhulian

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of 9:30 a.m. in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index (FBMKLCI) rose 0.2 percent to 1,603.79. The gauge has gained 0.3 percent this week.

Kejuruteraan Samudra Timur Bhd. (KSTB) , an oil and gas services provider, added 2.9 percent to 18 sen, bound for its highest close since March 30. The company won a contract to provide tubular-handling equipment and services to Talisman Malaysia Ltd. and signed a time-charter agreement to lease a drilling rig to PT Duta Adhikarya Negeri, Kejuruteraan Samudra said in separate stock exchange filings.

Silver Bird Group Bhd. (SBG) , a bread maker, fell 2.6 percent to 19 sen. The company obtained a court order restraining its creditors from suing or winding up its Stanson Marketing Sdn. unit for 90 days, Silver Bird said in a statement. Forensic investigations into financial irregularities at the group are continuing, it said.

Zhulian Corp. (ZHCB) , a multi-level marketing company, advanced 3.7 percent to 1.97 ringgit, poised for its highest close since Jan. 31. The company’s first-quarter net income grew 29 percent from a year earlier to 28.4 million ringgit, according to an exchange filing.

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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