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Malaysia Stocks: Gamuda, Genting Malaysia, MMC, Scomi Marine

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July 13 (Bloomberg) -- Malaysia’s FTSE Bursa Malaysia KLCI Index rose for a sixth day, adding 6.13, or 0.5 percent, to close at 1,332.87, its highest close since June 21.

Gamuda Bhd. (GAM MK), a construction and property group, fell 0.6 percent to 3.34 ringgit, snapping a five-day gain, after a stock exchange filing showed the Employees Provident Fund sold 1.9 million shares in the company, trimming its stake to 8.34 percent.

Genting Malaysia Bhd. (GENM MK), the country’s sole casino operator, climbed 3 percent to 2.74 ringgit, its biggest gain since May 31. Genting Malaysia Bhd. was rated “overweight” in new coverage by Morgan Stanley analysts Xin Jin Ling and Praveen Choudhary, who said in a report a recent decline in the shares provides a “buying opportunity.” The analysts have a share-price estimate of 3.05 ringgit. Genting Bhd. (GENT MK), its parent, rose 1.1 percent to 7.45 ringgit.

Malaysian Airline System Bhd. (MAS MK) added 1 percent to 2.08 ringgit. The national carrier has selected Pratt & Whitney, a unit of United Technologies Corp., to supply engines for its 17 new Airbus A330 aircraft. The airline will sign an agreement with Pratt & Whitney on July 15, according to an e-mailed invitation from Malaysian Airline.

MMC Corp. (MMC MK), a builder and power producer, rose 1.7 percent to 2.45 ringgit, the most since July 6. MMC’s Gas Malaysia Sdn. unit signed an agreement for an additional supply of natural gas from Petroliam Nasional Bhd. The agreement will contribute “positively” to MMC’s earnings, the company said in a statement.

Scomi Marine Bhd. (SMB MK), a marine transport company, surged 14 percent to 49 sen, its steepest gain since May 13, 2009, after agreeing to sell its logistics companies to PT Rig Tenders Indonesia and a privately managed fund for $171.8 million.

To contact the reporters on this story: Chan Tien Hin in Kuala Lumpur at thchan@bloomberg.net

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net

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