By Chan Tien Hin
April 23 (Bloomberg) -- Malaysia’s FTSE Bursa Malaysia KLCI Index rose 1.15, or 0.1 percent to 1,338.16 at 9:32 a.m. local time, set for its highest close since April 15. For the week, the gauge climbed 0.4 percent.
MISC Bhd. (MISC MK), the world’s biggest owner of liquefied natural gas tankers, rose 3.2 percent to 9.08 ringgit, set for its highest close since June 4, 2008, after AmResearch Sdn. upgraded the stock to “buy” from “hold” to reflect a recovery in tanker rates. The share price estimate was increased to 11.80 ringgit from 8.85 ringgit, AmResearch analyst Hafriz Hezry said in a report today.
Tomypak Holdings Bhd. (TOMY MK), a Malaysian plastic flexible packaging company, added 4 percent to 3.10 ringggit, set for its steepest gain since March 9, after CIMB Investment Bank Bhd. increased its share estimate to reflect its earnings growth prospects. The share estimate was raised to 4.96 ringgit from 4.66 ringgit, CIMB said in a report today.
WCT Bhd. (WCT MK) lost 0.7 percent to 3.04 ringgit. The Employees Provident Fund, Malaysia’s biggest pension fund, disclosed net sales of 2.9 million shares in the Malaysian construction company, trimming its stake to 21.4 percent, a stock exchange filing showed.
Yeo Hiap Seng (Malaysia) Bhd. (YHSM MK), a Malaysian beverage maker, advanced 5.8 percent to 1.46 ringgit, bound for its steepest gain since Sept. 14, after the company posted a profit of 5.62 million ringgit in the first quarter compared with a loss a year earlier.