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Malaysia Stocks: Subur Tiasa, Telekom Malaysia, Unisem, UEM

By Barry Porter and Anuchit Nguyen

March 22 (Bloomberg) -- Malaysia’s FTSE Bursa Malaysia KLCI Index fell for a third day, declining 2.95, or 0.2 percent, to close at 1,293.65, a two-week low.

Subur Tiasa Holdings Bhd. (STH MK), a Malaysian logging company, jumped 7.3 percent to 2.07 ringgit, the most since Aug. 6. The company’s net income rose to 6.3 million ringgit from 255,000 ringgit in the same period last year.

Telekom Malaysia Bhd. (T MK), Malaysia’s biggest fixed-line phone operator, rose 1.6 percent to 3.28 ringgit, its biggest gain since March 8. The company signed agreements with 20 content providers for its soon-to-be-launched internet protocol television service.

Unisem Bhd. (UNI MK), the country’s biggest semiconductor packaging and test services company, gained 4.8 percent to 2.41 ringgit, its steepest advance since March 4. The company’s revenue may increase as much as 50 percent this year on higher demand from China and the U.S., Managing Director John Chia said in a phone interview.

UEM Land Holdings Bhd. (ULHB MK), a Malaysian developer, climbed 2.8 percent to 1.46 ringgit, the most since March 9. The company priced its proposed rights issue shares at 80 sen each, which is a 44.1 percent discount to the stock’s recent average price, the company said in a statement to the Kuala Lumpur stock exchange today. UEM Land said it hopes to raise gross proceeds of 971.3 million ringgit from the one-for-two rights issue.

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