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Malaysia Stocks: KNM Group, MAA, Notion VTEC, SapuraCrest

By Chan Tien Hin

April 12 (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 fell 18.08, or 1.2 percent, to 1,525.92, its biggest drop since March 11.

Oil and gas stocks: KNM Group Bhd. (KNMG MK), an oil and gas services provider, lost 3.6 percent to 2.68 ringgit, the most since March 15, after crude oil fell for second day. SapuraCrest Petroleum Bhd. (SCRES MK) slid 1.9 percent to 3.69 ringgit and Petronas Chemicals Group Bhd. (PCHEM MK) fell 3.3 percent to 7.05 ringgit.

MAA Holdings Bhd. (MAA MK), an insurer, climbed 5.9 percent to 1.44 ringgit, its highest close since Jan. 30, 2008. MAA has applied for approval from Malaysia’s central bank to enter into an agreement to sell its Malaysian Assurance Alliance Bhd. unit and four other subsidiaries to Zurich Insurance Co., according to a company statement.

Notion VTEC Bhd. (NVB MK), a metal processor and tools maker, rose 5 percent to 2.30 ringgit, the highest since Aug. 2 after saying its controlling shareholders have been approached by a party who wants to acquire the entire business of the company. Notion VTEC hasn’t received any proposal yet and negotiations are still ongoing, the company said in a statement.

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