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Malaysia Stocks: Crescendo, Glomac, Sapura Industrial, Sunway

By Chan Tien Hin

April 1 (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.

The FTSE Bursa Malaysia KLCI Index rose 10.25, or 0.7 percent, to 1,555.38, its highest close since Jan. 19. The gauge advanced 2.6 percent this week, the steepest gain since Jan. 7.

Crescendo Corp. (CCDO MK), a property developer, advanced 8.5 percent to 1.53 ringgit, the highest close since October 2007, after saying fourth-quarter profit more than tripled to 14.3 million ringgit ($4.7 million).

Glomac Bhd. (GLMC MK), a property developer, rose 4.5 percent to 1.87 ringgit, its steepest increase since Jan. 5. Glomac said profit in the third quarter ended Jan. 31 surged 55 percent from a year earlier to 16.5 million ringgit as sales gained, according to a company statement.

Sapura Industrial Bhd. (SAPU MK), an auto components maker, surged 20 percent to 1.28 ringgit, the biggest gain since Nov. 8, after profit in the fourth quarter ended Jan. 31 climbed 27 percent from a year earlier to 6.64 million ringgit.

Sapura Resources Bhd. (SRB MK), an automotive retailer and computer distributor, jumped 22 percent to 1.04 ringgit, the most since Nov. 8, after announcing a fourth-quarter profit of 21.9 million ringgit, compared with a loss a year earlier.

Sunway Real Estate Investment Trust (SREIT MK) climbed 0.9 percent to 1.07 ringgit, its highest level since Feb. 10. The property trust was successful in bidding for Putra Place, a shopping mall, hotel and office development in Kuala Lumpur, according to a statement. The purchase price of 513.9 million ringgit will be funded internally and via bank borrowings, the statement said.

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