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CIMB, Fututech, Palette, Pintaras Jaya: Malaysia Equity Preview

By Chan Tien Hin

Sept. 8 (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.

Malaysia’s FTSE Bursa Malaysia KLCI Index climbed 0.7 percent to 1,464.61.

CIMB Group Holdings Bhd. (CIMB MK): The Employees Provident Fund, Malaysia’s biggest pension fund, sold 5.8 million shares in the nation’s second-largest banking group, a stock exchange filing showed. CIMB lost 0.3 percent to 7.28 ringgit.

Fututech Bhd. (FUT MK): The lighting products supplier said a group led by Egovision Sdn. made a mandatory takeover offer at 50 sen apiece for the rest of the shares it doesn’t already own, according to a statement. The shares rose 5.4 percent to 48.5 sen.

Palette Multimedia Bhd. (PMB MK): The communications and multimedia company proposed raising as much as 4.6 million ringgit from an offering of warrants to existing shareholders, it said in a stock exchange filing. The shares last traded at 7.5 sen on Sept. 6.

Pintaras Jaya Bhd. (PINT MK): The Malaysian construction group won a 54.9 million-ringgit ($18 million) building contract from Oasis Garden Development Sdn., according to a company statement. Pintaras added 5.5 percent to 2.50 ringgit.

UOA Development Bhd. (UOAD MK): The property developer’s construction unit received a 101.4 million-ringgit contract to build a hotel in Kuala Lumpur, it said in a statement. The unit got the contract from Ceylon Hills Sdn., partly owned by UOA Development, the company said. The stock gained 0.7 percent to 1.50 ringgit.

Zecon Bhd. (ZEC MK): The builder got a three-month extension from the stock exchange to resolve its public shareholding spread. The public spread is 23.4 percent as of June 30, lower than the required 25 percent, Zecon said in a statement. The company’s major shareholder is still in the midst of selling its shares to comply with the spread, it said. Zecon slipped 2.9 percent to 51 sen.

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