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Coastal, IJM, KUB, Rimbunan, Zelan: Malaysia Equity Preview

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May 30 (Bloomberg) -- 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 rose 0.5 percent to 1,548.69 on May 27.

Coastal Contracts Bhd. (COCO MK): The shipbuilder’s first-quarter profit climbed 30 percent from a year earlier to 56.1 million ringgit ($19 million), according to a company statement. The stock gained 3.4 percent to 3.63 ringgit.

IJM Corp. (IJM MK): The construction and plantations group had a fourth-quarter net loss of 20.2 million ringgit, compared with profit of 111 million ringgit a year earlier. The loss was mainly due to contractual claims, recovery of receivables and losses on some overseas projects, the company said in a Kuala Lumpur exchange filing. The stock was unchanged at 6.20 ringgit.

IJM Plantations Bhd. (IJMP MK): The plantation group said profit in the fourth quarter ended March 31 rose 65 percent from a year earlier to 25.9 million ringgit, according to a stock exchange filing. The shares gained 0.4 percent to 2.83 ringgit.

KUB Malaysia Bhd. (KUBM MK): The telecommunications services provider had a first-quarter loss of 5.04 million ringgit, compared with a profit of 2.07 million ringgit a year, according to a company statement. KUB fell 2.1 percent to 71 sen.

Kulim Malaysia Bhd. (KUL MK): The palm-oil producer’s first-quarter net income doubled from a year earlier to 127.1 million ringgit, according to a company statement. The shares gained 0.3 percent to 3.30 ringgit.

MWE Holdings Bhd. (MWE MK): The yarn and fabric manufacturer’s first-quarter net income climbed 23 percent from a year earlier to 11.6 million ringgit, the company said in a statement. MWE was unchanged at 1.33 ringgit.

Rimbunan Sawit Bhd. (RSAW MK): The oil palm planter proposed to raise as much as 392.6 million ringgit from a rights offer to help repay debt and fund working capital, according to a company statement. It also proposed a one-for-one bonus share issue, it said. The stock gained 0.5 percent to 2.19 ringgit.

Ta Ann Holdings Bhd. (TAH MK): The timber company said first-quarter net income more than tripled from a year earlier to 26.6 million ringgit, according to a company statement. Its shares fell 2.1 percent to 6.52 ringgit.

Zelan Bhd. (ZELN MK): The builder said its net loss in the fourth quarter ended March 31 narrowed to 162.4 million ringgit from 205 million ringgit a year earlier, it said in a statement. Zelan fell 3.3 percent to 43.5 sen.

To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at

To contact the editor responsible for this story: Darren Boey at

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