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Malaysia Stocks: Berjaya, K&K Kenanga, Petronas Chemicals Group

By Soraya Permatasari and Berni Moestafa

Dec. 27 (Bloomberg) -- Malaysia’s FTSE Bursa Malaysia KLCI Index added adding 0.14 point, or less than 0.1 percent, to 1,511.72 at the 5 p.m. local-time close.

Berjaya Sports Toto Bhd. (BST MK), the lottery operator owned by Berjaya Corp., advanced 2.8 percent to 4.43 ringgit, gaining for a third day, after confirming talks about a potential strategic investor for the company on Dec. 23.

K&N Kenanga Holdings Bhd. (KNK MK), an investment banking and stock-broking group, fell 2 percent to 72 sen, the sharpest drop this month. Kenanga said it will report additional impairment charges of 44.3 million ringgit ($14 million) because of write-downs in collateral values of a loan and an investment at an associate company. The charges will be reflected in its fourth-quarter results, it said.

Kuala Lumpur Kepong Bhd. (KLK MK), a Malaysian palm oil producer, gained 1.9 percent to 22.20 ringgit. Palm oil futures advanced 2.2 percent to 3,744 ringgit ($1,209) a metric ton in Kuala Lumpur, rising for a sixth straight day.

Petronas Chemicals Group Bhd. (PCHEM MK), the petrochemical unit of state-owned Petroliam Nasional Bhd., slid 0.4 percent to 5.53 ringgit, the lowest close since Dec. 8. Petronas Chemicals said it halted operations at an aromatic plant within its petrochemical complex in Kertih in the state of Terengganu as a safety precaution after a fire broke out. No one was injured in the fire, which was extinguished “shortly after,” Petronas Chemicals said in an e-mailed statement on Dec. 25.

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