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Malaysia Stocks: AirAsia, Faber, Gopeng, UEM Land, SP Setia

By Chan Tien Hin

Jan. 13 (Bloomberg) -- Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses, and prices are as of the 5 p.m. close in Kuala Lumpur.

Malaysia’s FTSE Bursa Malaysia KLCI Index rose 5.07, or 0.3 percent, to 1,571.56. The gauge gained for a second straight day.

Property stocks: UEM Land Bhd. (ULHB MK), Tebrau Teguh Bhd. (TEB MK) and Sunway City Bhd. (SCITY MK) rose after RHB Research Institute Sdn. said in a report the companies are among developers that will gain from a “re-pricing wave” in land and property values in the southern Johor state. UEM Land climbed 0.9 percent to 3.25 ringgit, a record high. Tebrau jumped 15 percent to 94.5 sen, the steepest rally since May 22, 2009. Sunway City added 3.7 percent to 4.72 ringgit.

AirAsia Bhd. (AIRA MK), Southeast Asia’s biggest budget carrier, advanced 6.3 percent to 3.04 ringgit, a record close, after UOB Kay Hian Holdings Ltd. said in a report today the shares would be revalued to 3.80 ringgit apiece if its Indonesian unit is listed on the Jakarta Stock Exchange at a multiple of 20 times estimated earnings.

PT Garuda Indonesia is planning to sell shares at 750 rupiah to 1,100 rupiah apiece in Jakarta. The shares could trade at 19.2 times to 28.2 times earnings, UOB Kay Hian said.

Faber Group Bhd. (FAB MK), a hospital support services provider and property group, slid 17 percent to 2.19 ringgit, the most since March 10, 2008. Faber said the emirate of Abu Dhabi didn’t renew its annual civil, mechanical and electrical maintenance contracts totaling 55 million ringgit ($18 million), according to a company statement.

Gopeng Bhd. (GOP MK), an investment holding company, jumped 7 percent to 1.38 ringgit, the biggest gain since Nov. 22, after declaring a special interim dividend of 35 sen a share following the sale of its stake in a cement business.

SP Setia Bhd. (SPSB MK), a property developer, climbed 3.6 percent to 6.93 ringgit, a record. HwangDBS Vickers Research Sdn. increased its share-price estimate to 7.70 ringgit from 7 ringgit, citing the company’s earnings growth prospects.

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