Mah Sing, SP Setia Fall After Kenanga Downgrades Their Ratings

Mah Sing Group Bhd. fell to a one-year low and SP Setia Bhd. dropped in Kuala Lumpur trading after Kenanga Investment Bank Bhd. downgraded the Malaysian property developers’ stock ratings.

Mah Sing slid 3.4 percent to 1.71 ringgit at 12:04 p.m. local time, set for its lowest close since Sept. 8, 2010. SP Setia lost 2.2 percent to 3.12 ringgit, the most since Sept. 14. Both stocks were cut to “underperform” from “outperform,” Kenanga wrote in a note to clients.