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Malaysia Stocks: Proton, Petronas Chemicals, SP Setia, Tenaga

Malaysia’s FTSE Bursa Malaysia KLCI Index rose for a third day, adding 14.28, or 0.9 percent, to 1,566.17 at the 5 p.m. close in Kuala Lumpur, a record.

Carmakers: Proton Holdings Bhd. (PROH MK) led Malaysian automakers higher after Frost & Sullivan Inc. said the nation’s vehicle sales may gain 4.1 percent this year, bolstered by new models and a “stable” economic outlook. Proton gained 2.7 percent to 4.62 ringgit, the most since Nov. 30. UMW Holdings Bhd. (UMWH MK) advanced 0.8 percent to 7.56 ringgit.

GUH Holdings Bhd. (GUH MK), a printed circuit board-marker, rose 0.9 percent to 1.18 ringgit, its biggest gain since Dec. 30. The company said its Hong Kong subsidiary agreed to build a water treatment plant in China’s Jiangsu Province. A total of 180 million yuan ($27 million) will be invested in two phases, it said in a Kuala Lumpur exchange filing.

Kumpulan Europlus Bhd. (KEUR MK), a builder, added 1.4 percent to 1.46 ringgit, its highest close since April 2000. The company said it priced its proposed private placement at 1.22 ringgit per share.

Petronas Chemicals Group Bhd. (PCHEM MK), a unit of Malaysia’s state oil and gas company, advanced 3.9 percent to 5.80 ringgit, its steepest gain since its listing debut on Nov. 26. The company was rated “buy” in new coverage at Citigroup Inc., which has a share-price estimate of 6.40 ringgit.

“We see potential earnings upside on the recent oil price strength,” Oscar Yee and Tushar Bagla, analysts at Citigroup, said in a report today.

SP Setia Bhd. (SPSB MK), a property developer, climbed 0.8 percent to 6.35 ringgit, an all-time high. RHB Research Institute Sdn. raised the stock’s fair value to 6.95 ringgit from 6.50 ringgit to reflect a higher market value for its development landbank.

Signature International Bhd. (SIGN MK) advanced 3.7 percent to 83.5 sen, its highest close since Nov. 9 after HSC Healthcare Sdn. bought 3.9 million shares, raising its stake in the kitchen and wardrobe systems supplier to 22 million shares.

Tenaga Nasional Bhd. (TNB MK), Malaysia’s biggest power utility, fell 0.7 percent to 6.67 ringgit, its steepest drop since Dec. 16. Tenaga’s profits for the 2011 to 2013 fiscal years could drop by 28 to 29 percent because of higher coal prices, AmResearch Sdn. said in a report today.

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