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Malaysian Stocks: HELP, Malaysian Resources, Muhibbah, Perisai

By Gan Yen Kuan

Dec. 23 (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 advanced 0.3 percent to 1,496.15, its highest close since Aug. 18. The benchmark gauge rose 2 percent this week, and has lost 1.5 percent so far this year.

HELP International Corp. (HELP MK), a provider of higher education, declined 5.3 percent to 1.62 ringgit, its lowest close since Dec. 14. Fourth-quarter net income slid 45 percent from a year earlier to 3.6 million ringgit ($1.1 million), it said in a stock-exchange filing.

Malaysian Resources Corp. (MRC MK), a property and construction group, rose 1 percent to 2.09 ringgit, its highest close since Aug. 24. The company won a 13.9 million-ringgit contract to upgrade the Employees Provident Fund’s building in eastern Sabah state, it said in a statement.

Muhibbah Engineering (M) Bhd. (MUHI MK), a builder, surged 5.6 percent to 1.14 ringgit, its steepest increase since Oct. 27. Its joint venture with Australia’s Monadelphous Group Ltd. got a A$330 million ($336 million) contract to construct a coal jetty and ship berth in Queensland, it said in a statement.

Perisai Petroleum Teknologi Bhd. (PPT MK), an oil and gas services provider, jumped 6.6 percent to 73 sen, its highest close since Aug. 5. The company expects to see annual profit contributions of at least $16.7 million from its acquisition of Garuda Energy (L) Ltd., the Edge Financial Daily reported, citing Managing Director Zainol Izzet Mohamed Ishak. Zainol Izzet wasn’t available for comment when phoned at his office in Kuala Lumpur today.

TSM Global Bhd. (TSM MK), an auto-parts manufacturer, dropped 1.8 percent to 1.10 ringgit, its lowest close since Dec. 15. It posted a third-quarter net loss of 21.1 million ringgit, compared with profit of 8.1 million ringgit a year earlier, according to a stock-exchange filing.

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