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Malaysia Stock Movers: C.I. Holdings, Notion, Tanjung Offshore

By Chan Tien Hin

July 4 (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 dropped less than 0.1 percent to 1,582.35, the first decline in five days.

C.I. Holdings Bhd. (CIH MK) rose 1.9 percent to 3.30 ringgit, its first gain in three days. Japan’s Asahi Group Holdings Ltd. is in talks to acquire Permanis Sdn. from C.I. Holdings for about $200 million, a person with knowledge of the matter said. Permanis is PepsiCo Inc.’s bottler in Malaysia. C.I. Chief Executive Officer Erwin Selvarajah didn’t return calls to his office seeking comment.

Notion VTEC Bhd. (NVB MK), a metal processor and tools maker, dropped 4.2 percent to 2.04 ringgit, the most since June 16. Notion said its controlling shareholders scrapped talks with a party that wanted to acquire the entire business of the company. The negotiations were abandoned because of a disagreement over certain terms and conditions, Notion said in a statement.

Tanjung Offshore Bhd. (TOFF MK), an oil and gas services provider, gained 5.1 percent to 1.04 ringgit, the most since May 12. Tanjung won charter contracts valued at 50 million ringgit ($17 million) to supply offshore support vessels to Petronas Carigali Sdn.

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