By Soraya Permatasari and Chan Tien Hin
Dec. 24 (Bloomberg) -- Malaysia’s FTSE Bursa Malaysia KLCI Index fell 2.90, or 0.2 percent, to 1,511.58 at the 5 p.m. local-time close. The gauge gained 0.8 percent this week, the most since the week ended Oct. 29.
Axiata Group Bhd. (AXIATA MK), Malaysia’s second-biggest mobile phone operator, rose 0.4 percent to 4.72 ringgit, the highest close since Dec. 14. The company said it sold its entire 18.9 percent stake in Samart Corp. for 34.8 million ringit ($11.2 million) as part of a plan to focus on its core business.
Berjaya Sports Toto Bhd. (BST MK), a lottery operator, rose 0.5 percent to 4.31 ringgit, its highest close since June 29. The company confirmed yesterday’s report from the Edge Financial Daily that it had discussions about a possible strategic investor.
Farlim Group (Malaysia) Bhd. (FG MK), a property developer, fell 1.2 percent to 40.5 sen, its biggest drop since Dec. 15. Multi-Purpose Holdings Bhd. is no longer a substantial shareholder in Farlim after selling 8.16 million shares, a stock exchange filing showed.
Selangor Properties Bhd. (SPR MK), a property developer, added 2.9 percent to 3.50 ringgit, the most since Nov. 24. The company said profit in the fourth quarter ended Oct. 31 rose 48 percent from a year earlier to 53.9 million ringgit on revaluation gains on its investment properties.
United Malayan Land Bhd. (UML MK), a property developer, gained 0.6 percent to 1.75 ringgit, the highest close since Nov. 25. The company said its joint venture, Nusajaya Consolidated Sdn., has exercised an option to buy 6.7 acres of land in Puteri Harbour in Johor state for 49.6 million ringgit. The joint venture plans an office, residential and retail project on the land worth 670 million ringgit in gross development value, according to a company statement.