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Maybank, NTPM, PacificMas, SP Setia: Malaysia Equity Preview

By Chan Tien Hin

Sept. 26 (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 1.6 percent to 1,365.94 on Sept. 23.

Malayan Banking Bhd. (MAY MK): The Employees Provident Fund, Malaysia’s biggest pension fund, bought 3.13 million shares in the nation’s largest banking group, a stock exchange filing showed. Permodalan Nasional Bhd., a state asset manager, also acquired 2.1 million shares in Malayan Banking, according to a separate filing. Malayan Banking, or Maybank, dropped 4.9 percent to 7.99 ringgit.

NTPM Holdings Bhd. (NTPM MK): The Malaysian tissue-paper maker’s profit in the first quarter ended July 31 fell 26 percent from a year earlier to 9.23 million ringgit ($2.9 million), according to a company statement. NTPM added 1.9 percent to 53 sen.

PacificMas Bhd. (PACM MK): The insurer said it’s seeking a further extension of a deadline to comply with a public shareholding spread rule by six months through March 25, 2012. PacificMas’ public spread was 20.5 percent as of September 22, lower than the required 25 percent, it said in a statement. PacificMas was unchanged at 3.08 ringgit.

SP Setia Bhd. (SPSB MK): Malaysia’s biggest property developer agreed to buy 2.23 acres of land in Melbourne for A$25.3 million ($24.8 million). The company plans to build apartments on the land with an estimated gross development value of A$250 million, it said in a statement. The stock climbed 0.7 percent to 3.08 ringgit.

Sarawak Cable Bhd. (SRCB MK): The power cables and wires manufacturer agreed to buy a 65 percent stake in PT Inpola Mitra Elektrindo for 15 billion rupiah ($1.7 million), it said in a statement. Sarawak Cable lost 2.2 percent to 1.76 ringgit.

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