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Malaysia Stocks: AirAsia, Jaya Tiasa, Ta Ann, WTK Holdings

Updated on

By Anuchit Nguyen

March 17 (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 was little changed at 1,492.09.

Timber companies: As much as 40 percent of Japan’s plywood production has been destroyed or significantly damaged in last week’s earthquake and tsunami, AmResearch Sdn. said in a report today, citing Glen Wilson, president of Interex Forest Products Ltd. This will spur demand for timber and building materials from other countries, AmResearch said in a report.

Ta Ann Holdings Bhd. (TAH MK) jumped 10 percent to 5.48 ringgit, the most since March 2004. WTK Holdings Bhd. (WTKH MK) rose 5.2 percent to 1.62 ringgit, the highest close since September 2008. Jaya Tiasa Holdings Bhd. (JT MK) increased 6.3 percent to 5.42 ringgit, the highest since May 2007.

AirAsia Bhd. (AIRA MK) lost 2 percent to 2.48 ringgit. HwangDBS Vickers Sdn. raised its jet-fuel price estimate for this financial year to $125 per barrel from its previous forecast of $105 per barrel. This will hurt earnings of Asian airlines including Malaysian carriers, HwangDBS said in a report today.

Tomei Consolidated Bhd. (TOME MK), a jewelry maker, fell 2.3 percent to 62.5 sen, the most since Feb. 24. Tomei signed an agreement with Goldheart Jewelry Sdn. to buy its retail operations in Malaysia for 5.6 million ringgit ($1.8 million), the company said in an exchange filing.

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