By Chan Tien Hin
Sept. 20 (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 1.2 percent to 1,413.12.
Bandar Raya Developments Bhd. (BRD MKK): The property group agreed to sell an office building and malls for a combined 430 million ringgit ($137 million) to Ambang Sehati Sdn., it said in a statement. Bandar Raya will distribute part of the proceeds to shareholders via a cash dividend of 80 sen per share, it said. The shares slid 0.4 percent to 2.38 ringgit.
Berjaya Corp. (BC MK): The property, insurance and gaming group plans to raise as much as 767.5 million ringgit from a rights offer of convertible loan stocks with warrants, it said in a statement. The money raised will be used to repay bank borrowings and fund working capital, it said. Berjaya rose 1.5 percent to 99 sen.
DRB-Hicom Bhd. (DRB MK): The automaker, transport services and banking group said its Alam Flora Sdn. unit signed a 22-year concession agreement with the government, giving it the right to undertake the collection of solid waste and public cleansing management services in Pahang state, Kuala Lumpur and Putrajaya. DRB-Hicom advanced 0.5 percent to 1.98 ringgit.
Formis Resources Bhd. (FMRB MK): The software company plans to venture into property development with Insas Bhd. and Red Zone Development Sdn. to help bolster earnings, according to a company statement. Formis gained 1.3 percent to 77 sen.
Gamuda Bhd. (GAM MK): The Employees Provident Fund, Malaysia’s largest pension fund, bought 1.4 million shares in the construction and property group, a stock exchange filing showed. Gamuda slid 2.5 percent to 2.75 ringgit.
Hartalega Holdings Bhd. (HART MK): The glove-maker’s managing director, Kuan Kam Hon, is in talks to buy more shares that will result in him gaining “indirect” control of the company, it said in a statement. Kuan’s proposed acquisition price will not be a premium and he has received an exemption from the Securities Commission from having to make a general offer for the rest of the shares, it said. The stock advanced 0.7 percent to 5.63 ringgit.
Kimlun Corp. (KICB MK): The construction company won a 51 million-ringgit contract to build a retail mall in Medini Iskandar, in the southern Johor state, according to a company statement. Kimlun lost 0.8 percent to 1.19 ringgit.
YTL Corp. (YTL MK): The Malaysian utilities, cement and property group spent 2.5 million ringgit buying back 1.8 million of its own shares, a stock filing showed. YTL climbed 1.5 percent to 1.38 ringgit.