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Malaysian Stocks: Goldis, Hong Leong, Insas, Kurnia, SapuraCrest

By Gan Yen Kuan

Dec. 14 (Bloomberg) -- Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 5 p.m. close in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index fell 2.27 points, or 0.2 percent, to 1,463.12.

Goldis Bhd. (GOLD MK), an investment company with interests in property and water treatment, surged 5 percent to 1.88 ringgit, its highest close since April 18. The company declared an interim dividend of 10 sen per share after third-quarter net income jumped 21-fold to 237.4 million ringgit ($74.5 million), according to an exchange filing.

Hong Leong Bank Bhd. (HLBK MK), a lender, rose 1.3 percent to 10.68 ringgit, its biggest gain since Dec. 1. The stock was newly rated a “buy” with a price target of 13.20 ringgit at Goldman Sachs Group Inc.

Insas Bhd. (INS MK), a finance, trading and property group, rose 1.1 percent to 47 sen, its highest close since Dec. 8. Insas will distribute one-for-50 shares as a dividend, according to an exchange filing.

Kurnia Asia Bhd. (KUAB MK), an insurer, climbed 4.8 percent to 54.5 sen, its highest close since Aug. 3. The company may sell its stake in a unit to Insurance Australia Group Ltd., the Star newspaper reported today. Kurnia Asia will make an announcement when required, said an official, who couldn’t be named because of company policy.

SapuraCrest Petroleum Bhd. (SCRES MK), an oilfield services provider, rose 2.1 percent to 4.41 ringgit. Its shareholders approved an 11.9 billion-ringgit merger with Kencana Petroleum Bhd. (KEPB MK), Shahril Shamsuddin, executive vice chairman at SapuraCrest, told reporters today. Kencana advanced 1.5 percent.

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