Efficient E-Solutions, KNM Group, MMC: Malaysia Stock 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 fell 0.7 percent to 1,545.88.

Efficient E-Solutions Bhd. (EES MK): The Malaysian data processing company signed a preliminary agreement with Singapore Post Ltd. to work together to provide data and document management services in Indonesia. The companies may provide services in other countries later, Efficient E-Solutions said in a statement. The stock fell 4.4 percent to 22 sen.

KNM Group Bhd. (KNMG MK): The oil and gas services provider said it stands to benefit from Petroliam Nasional Bhd.’s plan to build a $20 billion refining complex. The “addressable market” for KNM in the project is valued at as much as $4 billion, according to company slides presented to analysts at a briefing and made available to the stock exchange. KNM fell 1.6 percent to 1.90 ringgit.

MMC Corp. (MMC MK): The ports and power company’s Malakoff Corp. unit was appointed by the government to build a 1,000 megawatt coal-fired power plant adjoining its existing Tanjung Bin generating facility, according to an exchange filing. MMC fell 2.2 percent to 2.71 ringgit.

Tricubes Bhd. (TRCU MK): Maybank Venture Capital Co. ceased to be a substantial shareholder of Tricubes after selling 3 million shares in the software products developer, an exchange filing showed. The stock was unchanged at 8.5 sen.

UOA Development Bhd. (UOAD MK): The Employees Provident Fund, Malaysia’s largest pension fund, bought 5.4 million shares in the developer, raising its stake to 6.6 percent, an exchange filing showed. The stock slid 2.8 percent to 2.45 ringgit.

YTL Power International Bhd. (YTLP MK): The Employees Provident Fund, Malaysia’s largest pension fund, bought 3.89 million shares in the independent power producer, raising its stake to 10.2 percent, a stock exchange filing shows. The shares fell 0.5 percent to 2.15 ringgit.

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