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Aikbee, Bandar, Multi-Purpose Holdings: Malaysia Equity Preview

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 tumbled 2.5 percent to 1,331.80.

Aikbee Resources Bhd. (AIK MK): The timber group said a group of shareholders with a combined 38 percent stake has made an offer to buy the rest of the shares they don’t already own at 1 ringgit apiece, according to a stock exchange filing. The stock last traded at 86 sen on Sept. 23. The shares were suspended yesterday.

Bandar Raya Developments Bhd. (BRD MK): The property developer has ceased talks to sell its office and malls to Ambang Sehati Sdn. for 430 million ringgit ($136 million) and will instead dispose them by way of a tender exercise. An independent international property valuation firm will be appointed to manage the bids and Ambang Sehati will be invited to participate in the tender, the company said in a statement. Bandar fell 6.2 percent to 1.82 ringgit.

Hap Seng Consolidated Bhd. (HAP MK): Lei Shing Hong Investment Ltd. bought 4.5 million shares in the plantation and property group, raising its stake to 6.6 percent, a stock filing showed. Hap Seng fell 2.3 percent to 1.27 ringgit.

Multi-Purpose Holdings Bhd. (MPU MK): The property and gaming company agreed to sell its office tower in Kuala Lumpur to the Malaysian Chinese Association for 375 million ringgit, it said in a statement. The stock fell 6 percent to 2.21 ringgit.

Puncak Niaga Holdings Bhd. (PNH MK): Lembaga Tabung Haji has emerged as a substantial shareholder in Puncak after buying 1 million shares in the water-treatment operator, raising its stake to 5.1 percent, a stock exchange filing showed. Puncak was unchanged at 1.05 ringgit.

RHB Capital Bhd. (RHBC MK): Malaysia’s fifth-biggest lender wants to name Johari Abdul Muid as managing director of its commercial banking unit, a person familiar with the matter said. It has requested central bank approval to appoint Johari to head RHB Bank Bhd., said the person who asked not to be named as the information is private. Johari declined to comment in a text message to Bloomberg. RHB Capital Chairman Mohamed Khadar Merican couldn’t be immediately reached at his office for comment. The stock dropped 7.6 percent to 7.13 ringgit.

SEG International Bhd. (SYS MK): The college operator has received stock-exchange approval to extend a deadline by six months to complete the sale of a 10 percent stake, according to a stock filing. The shares slid 1.7 percent to 1.74 ringgit.

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