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Malaysia Stocks: Berjaya, Genting Malaysia, Hua Yang, Kencana

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Oct. 21 (Bloomberg) -- Malaysia’s FTSE Bursa Malaysia KLCI Index rose 4.24, or 0.3 percent, to 1,491.02 at 5 p.m. in Kuala Lumpur, closing at the highest level in a week.

Berjaya Corp. (BC MK), a betting, property and auto distributor, advanced 4.8 percent to 1.09 ringgit, its biggest gain since Sept. 30. The company said it has received a manufacturing plant license from the government to assemble commercial and passenger vehicles, hybrid and electric cars in Malaysia. The 100-acre plant will be based in Bukit Tagar in Selangor state, the company said in a statement.

Genting Malaysia Bhd. (GENM MK), a casino and hotel operator, added 1.4 percent to 3.56 ringgit, its largest increase since Oct. 5. The company said it will jointly bid for a London casino license and develop a leisure project with Apollo Resorts & Leisure Ltd. The company’s Genting Ibico Holdings Ltd. unit has entered into a joint venture with Apollo Resorts, according to a filing to the stock exchange.

Hua Yang Bhd. (HYB MK), a property developer, advanced 6.5 percent to 99 sen, the most since July 19. The company said profit in the second quarter ended Sept. 30 rose 57 percent from a year earlier to 4.31 million ringgit ($1.4 billion) after sales gained.

Kencana Petroleum Bhd. (KEPB MK) climbed 4.4 percent to 1.88 ringgit. Kumpulan Wang Persaraan (Diperbadankan), a pension fund, has emerged as a substantial shareholder in the oil and gas services provider after buying a 5.1 percent stake, a stock exchange filing showed.

WCT Bhd. (WCT MK), a construction company, jumped 2.9 percent to 3.20 ringgit, its largest advance since Sept. 27. The company won a contract valued at 1.59 billion riyal ($437 million) to build a government administrative building in Doha, Qatar, according to a statement. WCT also secured a 127.8 million-ringgit contract from the Malaysian government to build a hospital in Sabah state, the company said in a separate statement.

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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