Atlan, EON, Hong Leong, Poly, Sumatec: Malaysia Equity Preview

Shares of the following companies may have unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the previous close, unless stated otherwise.

The FTSE Bursa Malaysia KLCI Index was little changed at 1,534.95 on April 29. The market was shut on May 2 for a public holiday.

Atlan Holdings Bhd. (ALN MK): The stamped metal components maker and duty-free retailer had a net loss of 19.5 million ringgit ($6.6 million) in the fourth quarter ended Feb. 28 compared with profit of 26.1 million ringgit a year earlier, according to a company statement. Atlan last traded at 3.37 ringgit on April 28.

EON Capital Bhd. (EON MK): EON accepted Hong Leong Bank Bhd. (HLBK MK)’s 5.06 billion ringgit takeover offer for the Malaysian lender after the bid was sweetened with a dividend payment to existing EON shareholders, according to a company statement. EON accepted the bid on condition Hong Leong had no objections to a 311.9 million ringgit dividend payout, it said.

Hong Leong said in a separate statement that it’s “agreeable” to EON’s proposal. EON rose 0.7 percent to 7.23 ringgit before it was suspended. Hong Leong added 0.6 percent to 10.40 ringgit before its trading halt.

Poly Glass Fibre (M) Bhd. (PGF MK): The manufacturer of fiber glass wool said its net loss in the fourth quarter ended Feb. 28 widened to 416,000 ringgit from 183,000 ringgit a year earlier as sales declined, according to a company statement. The stock was unchanged at 35.5 sen.

Sumatec Resources Bhd. (SMTC MK): The engineering group was directed by the Kuala Lumpur stock exchange to prepare a plan to restore its finances or risk being de-listed, according to a company statement. The stock dropped 3.9 percent to 25 sen.

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