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CSC Steel, Dialog, Evergreen, SP Setia: Malaysia Equity Preview

By Chan Tien Hin and Barry Porter

Aug. 15 (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 1,483.67 on Aug. 12.

CSC Steel Holdings Bhd. (CSCS MK): The Malaysian producer of steel pipes, cold-rolled coils and steel sheets said second-quarter net income fell to 6.4 million ringgit ($2.1 million) from 31.6 million ringgit a year earlier, according to an exchange filing. The stock climbed 2 percent to 1.53 ringgit.

Dialog Group Bhd. (DLG MK): The oil and gas services group said fourth-quarter net income grew 45 percent from a year earlier to 44.9 million ringgit, according to an exchange filing. The stock slipped 0.4 percent to 2.52 ringgit.

Evergreen Fibreboard Bhd. (EVF MK): The panel-board maker agreed to buy Jasa Wibawa Sdn., a timber and rubber tree grower, for 37.8 million ringgit. Jasa won rights to extract and replant timber latex clones in Johor state, according to a company statement. Evergreen rose 3.9 percent to 1.07 ringgit.

Prestar Resources Bhd. (PRST MK): The hardware and tool manufacturer said in a statement that it bought land in Penang for 4.6 million ringgit. The stock climbed 11.4 percent to 39 sen.

SP Setia Bhd. (SPSB MK): The property developer agreed to buy 1,010.5 acres of land in Selangor state for 330.1 million ringgit, it said in a statement. The company plans a property project with potential sales of 3.5 billion ringgit on the land, it said. The shares rallied 4.1 percent to 3.85 ringgit.

Utusan Melayu Malaysia Bhd. (UTUS MK): The newspaper publisher will make an 11.8 million-ringgit gain from selling a printing unit, according to a company statement. Its shares climbed 3.5 percent to 74 sen.

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