Malaysia’s FTSE Bursa Malaysia KLCI Index rose 8.10, or 0.5 percent, to 1,519.84 at 5 p.m. in Kuala Lumpur, a record close. The measure remains below the intraday record of 1,524.69 on Jan. 14, 2008. The stock market was shut for a holiday on Nov. 5.
Plantation stocks: IOI Corp. (IOI MK) led plantation stocks higher after palm-oil futures surged to the highest level in more than two years. IOI advanced 1.9 percent to 5.97 ringgit, its highest close since July 16, 2008. Sime Darby Bhd. (SIME MK) added 1.1 percent to 9.03 ringgit and Kuala Lumpur Kepong Bhd. (KLK MK) climbed 4.1 percent to 20.62 ringgit, a record close.
Palm-oil futures surged as much as 4.9 percent to 3,348 ringgit a metric ton today, the highest level in intraday trading since July 18, 2008.
Pintaras Jaya Bhd. (PINT MK), a builder, added 1.5 percent to 2.06 ringgit, its highest close since July 2007. The company said profit in the fiscal first quarter ended Sept. 30 surged 83 percent from a year earlier to 8.8 million ringgit ($2.8 million).
Ramunia Holdings Bhd. (RH MK), an oil and gas services provider, gained 1.3 percent to 39.5 sen, its highest closing level since Oct. 29. The company said it signed a preliminary agreement with Dongnam Marine Crane Co. to jointly bid for manufacturing contracts related to offshore pedestal cranes and marine cranes.
Sunrise Bhd. (SUN MK), a property developer, jumped 28 percent to 3.22 ringgit, the most since April 2001. UEM Land Holdings Bhd. (ULHB MK) said it made a 1.4 billion ringgit conditional takeover offer for Sunrise in a bid to create Malaysia’s biggest listed property developer by assets. The offer values Sunrise at 2.80 ringgit a share, the companies said in separate statements. UEM Land jumped 10 percent to 2.49 ringgit, a record close.
Tomypak Holdings Bhd. (TOMY MK), a flexible plastic packaging company, slumped 7.6 percent to 1.10 ringgit, its lowest level since June 15. The company said third-quarter profit fell 47 percent from a year earlier to 3.03 million ringgit.