Malaysia Stocks: Berjaya, CSC, Evergreen, Pelangi, Scomi

Malaysia’s FTSE Bursa Malaysia KLCI Index fell 6.28, or 0.5 percent, to 1,241.62 at the 12:30 p.m. local time break, set for its lowest close since Oct. 13. Fourteen stocks declined and nine rose on the 30-member gauge.

Berjaya Corp. (BC MK), a Malaysian property, betting and insurance group, rose 2.5 percent to 1.25 ringgit, bound for the highest close since Jan. 25. The Edge weekly newspaper reported it may receive a Vietnam gaming license.

CSC Steel Holdings Bhd. (CSCS MK), a steel product producer, climbed 4.6 percent to 1.60 ringgit, set for the highest close since May 15, 2008. The company swung to a profit of 37.1 million ringgit from a loss of 42.1 million ringgit after sales climbed.

Evergreen Fibreboard Bhd. (EVF MK), a panel board maker, added 2.9 percent to 1.42 ringgit, on course for the largest gain since Jan. 28. The company may be in a net cash-positive position by the end of next year, the Edge weekly newspaper reported, citing Chief Operating Officer Kuo Jen Chiu. The company has free cash flow of more than 100 million ringgit ($29 million) a year and will settle loans amounting to 300 million ringgit on schedule over the next four years, the report said.

Pelangi Publishing Group Bhd. (PPG MK), a book publisher, jumped 12 percent to 55 sen, heading for its highest close since Oct. 30, 2008. The company said it plans a bonus share issue and a stock buyback. Pelangi plans to issue one new share for each four held by shareholders and it plans to buy back as much as 10 percent of its equity, it said in a statement.

Scomi Marine Bhd. (SMB MK), a marine transport services operator, lost 1.1 percent to 47 sen. The company said it agreed to sell a 29 percent stake in CH Offshore Ltd. to Falcon Energy Group for S$143.5 million in cash.

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