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Malaysia Stock Movers: JCY, KNM Group, MNRB Holdings, Sunway

By Chan Tien Hin

Aug. 23 (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. trading close in Kuala Lumpur.

Malaysia’s FTSE Bursa Malaysia KLCI Index rose 10.21 points, or 0.7 percent, to 1,482.37, its first gain in three days.

JCY International Bhd. (JCYH MK), a disk-drive components maker, dropped 4.3 percent to 45 sen, its biggest decline since Aug. 9. JCY had a loss of 31.9 million ringgit ($10.7 million) in the third quarter ended June 30 compared with a profit of 55.6 million ringgit a year earlier, it said in a statement.

KNM Group Bhd. (KNMG MK), an oil and gas services provider, dropped 2.7 percent to 1.44 ringgit, its lowest close since March 20, 2009. Second-quarter net income fell 23 percent to 10.9 million ringgit.

MNRB Holdings Bhd. (MNRB MK), a reinsurance company, rose 1.7 percent to 3.01 ringgit, the most since Aug. 4. Profit in the first quarter ended June 30 surged 64 percent from a year earlier to 43 million ringgit, the company said in a statement.

Sunway Bhd. (SWB MK), a property and construction group, fell 11 percent from its reference price of 2.80 ringgit to 2.49 ringgit on its debut. Sunway was formed to acquire Sunway Holdings Bhd. and Sunway City Bhd. as part of a 4.5 billion ringgit merger. Sunway bought the property and construction companies by offering cash and new shares at 2.80 ringgit each, according to its prospectus dated Aug. 18.

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