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Malaysia Stocks: KNM, Kumpulan Jetson, QL Resources, YTL Corp.

By Weiyi Lim and Chan Tien Hin

Dec. 14 (Bloomberg) -- Malaysia’s FTSE Bursa Malaysia KLCI Index rose 0.79, or 0.1 percent, to 1,510.58 at the 5 p.m. close in Kuala Lumpur.

KNM Group Bhd. (KNMG MK) increased 7.4 percent to 2.33 ringgit, its highest close since April 26. The oil and gas equipment provider said the Securities Commission has given the company a further extension of six months until May 30 to complete its proposed sale of exchangeable bonds.

Kumpulan Jetson Bhd. (KJB MK) dropped 3 percent to 0.96 ringgit, its biggest drop since Dec. 3. Businessmen brothers Sheikh Mohd. Nasarudin and Sheikh Mohd. Faliq Sheikh Mohamad Nasimuddin Kamal sold shares in the company and resigned from its board, according to stock exchange filings yesterday.

QL Resources Bhd. (QLG MK) gained 1.6 percent to 5.69 ringgit. The fishmeal producer and oil palm planter was rated “buy” in new coverage at ECM Libra Capital Sdn Bhd. The brokerage set the share-price estimate is 7.30 ringgit, according to a report by analyst Bernard Ching.

YTL Corp. (YTL MK): Malaysia’s biggest builder rose 2.5 percent to 8.49 ringgit, the best performing index stock. YTL Power International Bhd., in which YTL holds a controlling stake, said in a statement that it would buy a stake in a joint venture investing $5 billion on oil shale projects in Jordan.

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