Malaysia Stocks: Chuan Huat, Ivory, HeiTech, Yeo Hiap Seng

Malaysia’s FTSE Bursa Malaysia KLCI Index fell 1.59, or 0.1 percent, to 1,350.64 at 9:16 a.m. local time, its first decline in four days.

Chuan Huat Resources Bhd. (CHR MK), a building materials maker, surged 27 percent to 71.5 sen, set form 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 9.2 percent to 1.19 ringgit, bound for its largest increase since Nov. 5. 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 26 percent to 1.26 ringgit in its trading debut on the Kuala Lumpur stock exchange. The company sold shares at 1 ringgit apiece in its initial public offer.

Yeo Hiap Seng (Malaysia) Bhd. (YHSM MK), a beverage maker, slid 7.8 percent to 1.53 ringgit, headed for 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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