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Dijaya, Hwang-DBS, Latexx, Resintech: Malaysia Equity Preview

By Chan Tien Hin

June 9 (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 was little changed at 1,551.79.

Dijaya Corp. (DJC MK): The property developer agreed to buy land parcels in the states of Selangor and Perak for 391.1 million ringgit ($130 million), according to a company statement. The development of the Selangor land is expected to generate potential sales of 2.5 billion ringgit and the Perak land 123.7 million ringgit, it said. The stock was unchanged at 1.14 ringgit.

Hap Seng Consolidated Bhd. (HAP MK): Lei Shing Hong Investment Ltd. bought 393,100 shares in the Malaysian plantation and property group, raising its stake to 5.1 percent, a stock filing showed. Hap Seng rose 0.4 percent to 5.60 ringgit.

Hwang-DBS (Malaysia) Bhd. (HDBS MK): The stock brokerage’s net income in the third quarter ended April 30 rose 17 percent from a year earlier to 17.5 million ringgit as revenue advanced, according to a stock exchange filing. The stock last traded at 2.51 ringgit on June 7.

Latexx Partners Bhd. (LTX MK): The rubber-glove maker said its board accepted a revised offer to merge with the YTY group of companies. Latexx will pay 1.25 billion ringgit for four units of YTY in cash and stock, instead of an earlier proposed 1.37 billion ringgit in cash and shares, the company said in a statement. Latexx gained 2.3 percent to 2.27 ringgit.

Resintech Bhd. (RESI MK): The polyvinyl chloride and polyethylene products maker proposed a bonus issue of 68.6 million warrants on the basis of one warrant for every two shares held, according to an exchange filing. Resintech was unchanged at 45.5 sen.

Sunway Real Estate Investment Trust (SREIT MK): The Employees Provident Fund, Malaysia’s biggest pension fund, bought 1 million shares in the property trust, raising its stake to 8.6 percent, a stock exchange filing showed. The stock gained 0.9 percent to 1.08 ringgit.

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