Malaysian Stocks: Aliran Ihsan, Coastal Contracts, Iris, MMC
The FTSE Bursa Malaysia KLCI Index (FBMKLCI) rose 0.1 percent to 1,622.42, headed for a record close.
Coastal Contracts Bhd. (COCO MK) climbed 2 percent to 2.03 ringgit, bound for its highest close since May 11. The shipbuilder won orders for 12 vessels valued at 446 million ringgit ($140 million) in total, it said in an exchange filing.
Iris Corp. (ICB) , a technology-consulting company, advanced 3.1 percent to 16.5 sen. The company agreed to buy 51 percent of Oil Field Services Ltd. for an indicative price of $3.5 million, Iris said in a statement. Dubai-based Oil Field Services has an agreement with the Iraqi government to generate electricity in Basrah, Iraq, Iris said.
MMC Corp. (MMC) , a construction, power and ports group, gained 1.5 percent to 2.65 ringgit, poised for its highest close since June 27. The company offered to take 63 percent-owned water treatment unit Aliran Ihsan Resources Bhd. (AIRB) private through a capital repayment exercise at 1.84 ringgit per share, according to stock-exchange filings. Aliran Ihsan dropped 1.1 percent 1.73 ringgit.
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