Malaysia Stocks: AirAsia, Ivory, HeiTech, WCT, Yeo Hiap Seng

Malaysia’s FTSE Bursa Malaysia KLCI Index rose for a fourth day, adding 2.96, or 0.2 percent, to close at 1,355.19, its highest close since Feb. 29, 2008.

AirAsia Bhd. (AIRA MK), Southeast Asia’s biggest budget carrier, rose 4.9 percent to 1.51 ringgit, its highest close since Aug. 3, after saying it carried 10.6 percent more passengers in the second quarter from a year earlier. Its load factor rose to 77 percent from 75 percent in the three months ended June 30 from a year ago, with 3.89 million passengers carried, AirAsia said in an emailed statement today.

Chuan Huat Resources Bhd. (CHR MK), a building materials maker, surged 30 percent to 73.5 sen, its steepest gain since Aug. 25. The company proposed a one-for-three bonus share issue and a rights offer of warrants. This plan will help improve the liquidity and marketability of the company’s shares, it said in an exchange filing.

HeiTech Padu Bhd. (HEIT MK), a computer-services group, rose 7.3 percent to 1.17 ringgit, the most since Jan. 14. The company said it won a 282 million ringgit ($89 million) contract from the government to develop an integrated testing and training support system for the Road Transport Department of Malaysia.

Ivory Properties Group Bhd. (IVORY MK), a property developer, jumped 30 percent to 1.30 ringgit in its trading debut on the Kuala Lumpur stock exchange. The company sold shares at 1 ringgit apiece in its initial public offer.

WCT Bhd. (WCT MK), a builder and property group, climbed 2.6 percent to 2.82 ringgit, its largest advance since June 18. HwangDBS Vickers Research Sdn. raised the stock’s rating to “buy” from “fully valued” to reflect higher new order wins and property rental income.

Yeo Hiap Seng (Malaysia) Bhd. (YHSM MK), a beverage maker, slid 7.8 percent to 1.53 ringgit, its steepest decline since Sept. 11. The company said it had a loss of 5.35 million ringgit in the second quarter, compared with a profit of 2.1 million ringgit a year earlier, after sales declined.

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