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Malaysian Stock Movers: AMMB, Boustead Heavy, Genetec, Ingress

By Gan Yen Kuan

Dec. 21 (Bloomberg) -- Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the close in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index rose 1.4 percent to 1,484.98, the largest gain since Nov. 30. The benchmark gauge has fallen 2.2 percent year to date.

AMMB Holdings Bhd. (AMM MK), a banking group, climbed 3.5 percent to 5.90 ringgit, the steepest increase since Nov. 29. Standard & Poor’s raised its credit ratings on the group’s AmBank (M) Bhd. and AmInvestment Bank Bhd. units, AMMB said in a statement.

Boustead Heavy Industries Corp. (BHIC MK), a shipbuilder, jumped 6.6 percent to 3.39 ringgit, its largest gain since April 7. The company may be bought out by its parent Boustead Holdings Bhd. (BOUS MK), the Star newspaper reported, citing people it didn’t name.

Boustead said it isn’t considering taking Boustead Heavy private, according to a stock exchange filing issued during the trading break today.

Genetec Technology Bhd. (GENE MK), an industrial automated-equipment maker, advanced 7.5 percent to 21.5 sen, its biggest increase since Nov. 17. The company won new orders worth 16.5 million ringgit ($5 million), it said in a statement.

Ingress Corp. (INGC MK), an auto-parts supplier, added 6.4 percent to 75 sen, its largest gain since July 28. Third-quarter net income tripled from a year earlier to 6.7 million ringgit, according to an exchange filing.

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