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JCY, Maxis, Petronas Gas, SapuraCrest: Malaysia Equity Preview

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Dec. 1 (Bloomberg) -- The following companies may have unusual price changes in Malaysia trading. Stock symbols are in parentheses, and share prices are from the most recent close. Malaysia’s FTSE Bursa Malaysia KLCI Index fell 0.7 percent to 1,485.23.

JCY International Bhd. (JYCH MK): The Malaysian disk-drive components supplier said it had a loss of 22.6 million ringgit ($7.1 million) in the fourth quarter ended Sept. 30 compared with a profit of 73.5 million ringgit a year earlier because of a decline in average selling prices and foreign exchange losses. JCY slid 2.2 percent to 89.5 sen.

Keck Seng (Malaysia) Bhd. (KS MK): The palm oil producer said it plans to give shareholders one new share for every two owned as part of a bonus issue. The proposal is aimed at rewarding shareholders and improving liquidity of the stock, the company said in a statement. Keck Seng rose 1.2 percent to 6 ringgit.

Maxis Bhd. (MAXIS MK): Malaysia’s biggest mobile-phone operator reported third-quarter net income of 601 million ringgit. This followed a profit of 1.18 billion ringgit in the year earlier period, according to a stock exchange filing. The earnings report didn’t represent a “like-for-like” comparison as the company was restructured ahead of its 2009 listing, the company said. Maxis fell 0.2 percent to 5.29 ringgit.

Petronas Gas Bhd. (PTG MK): The natural gas distributor said profit in the second quarter ended Sept. 30 surged 91 percent from a year earlier to 389.1 million ringgit, boosted by higher revenue. Petronas Gas dropped 1.1 percent to 11.14 ringgit.

SapuraCrest Petroleum Bhd. (SCRES MK): The oil and gas services provider said its joint venture with Acergy SA received a $160 million offshore contract from PTTEP Australasia (Ashmore Cartier) Pty to provide offshore transportation and construction services for the Montara Development project in the southern Timor Sea. SapuraCrest was unchanged at 2.65 ringgit.

Supportive International Holdings Bhd. (SIHB MK): The manufacturer of cable accessories and connectors said it plans a share split to make the shares more affordable and attractive to investors. Supportive added 1 percent to 2.06 ringgit.

Wah Seong Corp. (WSC MK): The pipe-coating company said third-quarter net income slid 60 percent from a year earlier to 12.5 million ringgit as sales shrank. Wah Seong dropped 0.5 percent to 2.02 ringgit.

To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at thchan@bloomberg.net.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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