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Amway, Malaysia Smelting, Petronas: Malaysia Equity Preview

By Chan Tien Hin

Aug. 11 (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 0.6 percent to 1,480.52.

Amway (Malaysia) Holdings Bhd. (AMW MK): The direct sales company’s second-quarter net income fell 12 percent from a year earlier to 19 million ringgit ($6.3 million), according to a company statement. Amway added 0.1 percent to 9 ringgit.

Far East Holdings Bhd. (FEH MK): The Malaysian oil palm planter’s second-quarter net income jumped 72 percent from a year earlier to 28 million ringgit, it said in a statement. Far East last traded at 7 ringgit on Aug. 9.

Malaysia Smelting Corp. (SMELT MK): The tin producer’s second-quarter profit more than quadrupled from a year earlier to 36.3 million ringgit, helped by higher tin prices, according to an exchange filing. The shares gained 2.2 percent to 4.14 ringgit.

Petronas Dagangan Bhd. (PETD MKK): The retailing arm of Malaysia’s state oil and gas company had a profit of 208.7 million ringgit in the first quarter ended June 30, according to a company statement. It didn’t provide year-earlier figures because it changed its financial year-end to Dec. 31 from March 31, it said. The stock rose 0.6 percent to 16.54 ringgit.

Shell Refining Co Bhd. (SHELL MK): The Malaysian unit of Royal Dutch Shell Plc said its second-quarter net loss narrowed to 27.7 million ringgit from 46.8 million ringgit a year earlier, according to a stock exchange filing. The stock fell 1.8 percent to 10 ringgit.

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