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Malaysia Airports, Top Glove, Utusan: Malaysia Equity Preview

By Chan Tien Hin

Sept. 12 (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 fell 0.1 percent to 1,469.12 on Sept. 9.

Malaysia Airports Holdings Bhd. (MAHB MK): The airports operator said it has been advised by the Ministry of Transport that government-approved increases on the international passenger service charge and aircraft landing and parking charges be put on hold. The increases may be postponed until a further review by the government, Malaysia Airports said in a statement. The higher tariffs were to be in place by Sept. 15. The stock fell 0.2 percent to 6.29 ringgit.

Tatt Giap Group Bhd. (TGGB MK): The stainless steel products manufacturer agreed to buy industrial land and office and factory buildings for 18.8 million ringgit ($6.2 million) as part of its expansion plans, it said in a statement. The stock last traded at 45 sen on Sept. 7.

TH Plantations Bhd. (THP MK): The palm oil producer is seeking to achieve a return on equity of 19 percent this year, according to a company statement. The return-on-equity goal is a gauge of how effectively earnings are reinvested. The stock dropped 0.5 percent to 2.06 ringgit.

Top Glove Corp. (TOPG MK): Kumpulan Wang Persaraan, a Malaysian pension fund, said it became a substantial shareholder in the world’s biggest rubber-glove maker after buying 483,400 shares, raising its stake to 5 percent, a stock filing showed. Top Glove fell 2.3 percent to 4.59 ringgit.

Utusan Melayu (Malaysia) Bhd. (UTUS MK): The newspaper publisher formed a joint venture with Juasa Holdings Sdn. for a commercial property development in Kuala Lumpur, according to an exchange filing. Its shares last traded at 74 sen on Sept. 8.

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