Malaysia’s FTSE Bursa Malaysia KLCI Index fell for the first time in four days, losing 1.88, or 0.1 percent, to 1,338.84 at 9:57 a.m. local time, set for its steepest decline in a week.
KLCC Property Holdings Bhd. (KLCC MK) fell 0.9 percent to 3.24 ringgit after it was removed from the MSCI Malaysia Index, effective May 26.
Hartalega Holdings Bhd. (HART MK), a Malaysian rubber glove maker, rose 0.6 percent to 7.90 ringgit, set for its highest close since April 27. The company said fourth-quarter net income rose 50 percent to 46.4 million ringgit from a year earlier. The company also proposed a bonus share issue of one new share for every two existing shares held, it said in a statement.
Kencana Petroleum Bhd. (KEPB MK), an oil and gas services provider, added 0.6 percent to 1.58 ringgit, set for its highest close since May 5. The company said it won a 91.9 million ringgit contract from Malaysia’s Ministry of Energy, Green Technology and Water, to install a subsea pipeline in Labuan island.
Petra Perdana Bhd. (PETR MK), a Malaysian oil and gas services provider, slid 0.7 percent to 1.37 ringgit. The company said it may raise about 110 million ringgit from a private share placement and a rights offer to help repay debt and fund working capital requirements.