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Malaysia Stocks: Bolton, Dialog, Mudajaya, Padini, UEM Land

By Chan Tien Hin

Oct. 7 (Bloomberg) -- Malaysia’s FTSE Bursa Malaysia KLCI Index rose for a third day, adding 1.84, or 0.1 percent, to 1,481.45 at the 5 p.m. close in Kuala Lumpur, its highest level since Jan. 15, 2008.

Bolton Bhd. (BOL MK), a property developer, dropped 1 percent to 1.01 ringgit, its biggest decline since Oct. 1. The company said it scrapped an agreement to buy a piece of land in Kuala Lumpur for 39 million ringgit ($13 million) from Intrapuri Sdn. because the latter didn’t meet the terms and conditions of the contract.

Dialog Group Bhd. (DLG MK), an oil and gas services provider, rose 2.7 percent to 1.16 ringgit, its steepest gain since Sept. 17. The company said it won a 60.7 million ringgit contract to build a condensate tank at Malaysia’s Bintulu Crude Oil Terminal for Petronas Carigali Sdn.

Mudajaya Group Bhd. (MDJ MK), a builder, advanced 3.8 percent to 4.61 ringgit before its shares were halted for an announcement. The company plans a hydroelectric power project in Laos, it later said in a statement today.

Padini Holdings Bhd. (PAD MK), a garment manufacturer, climbed 4.2 percent to 4.98 ringgit, its second day of gains, after it proposed splitting each of its shares into five to make them more affordable for a wider group of investors.

UEM Land Holdings Bhd. (ULHB MK), a property developer, advanced 4.8 percent to 2.39 ringgit, a record close, after Credit Suisse Group AG said the company aims to grow revenue five-fold to 2 billion ringgit in five years. UEM Land’s Nusajaya project will contribute at least 60 percent of the sales in five years, Amir Hamzah, an analyst at Credit Suisse said in the report.

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