Malaysian Stocks: AirAsia, Can-One, Harvest, Proton, Xidelang

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 0.5 percent to 1,521.73, the highest close since Dec. 30.

AirAsia Bhd. (AIRA MK), Asia’s biggest budget carrier, added 1.1 percent to 3.70 ringgit, the most since Dec. 22. AirAsia may order as many as 30 Airbus planes within three to four months as air travel in the region continues to grow, Chief Executive Officer Tony Fernandes told reporters in Paris.

Astral Supreme Bhd. (ASUP MK), a maker of electronic toys and games, climbed 2.3 percent to 22.5 sen. The company won a 12.5 million-ringgit ($4 million) order from Sphairon Technologies GmbH, Astral said in a statement.

AWC Bhd. (AWCF MK), a facility management services provider, rose 10 percent to 27.5 sen, the highest close since July 13. The company plans to set up a joint venture with Dallah Group Co. to develop automated waste collection system projects in Saudi Arabia, AWC said in a statement.

Can-One Bhd. (CAN MK), a maker of tin cans, surged 14 percent to 1.82 ringgit, a record close. The Federal Court allowed the company to proceed with the purchase of a 33 percent stake in Kian Joo Can Factory Bhd. (KJC MK) for 241 million ringgit, Can-One said in a statement. Kian Joo fell 3.6 percent to 2.12 ringgit.

Harvest Court Industries Bhd. (HAR MK), a timber company, jumped 31 percent to 1.41 ringgit, its highest close since Nov. 16. The stock exchange removed trading restrictions imposed on the company in November, Harvest Court said in a statement.

Malaysian Airline System Bhd. (MAS MK), the national carrier, gained 4 percent to 1.58 ringgit, its highest close since Aug. 23. The airline will increase flights to destinations including Beijing, Los Angeles, and the Philippines, it said in a statement.

Petra Energy Bhd. (PENB MK), an oil and gas services provider, slid 7.4 percent to 1 ringgit, its lowest close since Oct. 12. The company received a notice from shareholders to vote on the proposed removal of its chief executive officer Kamarul Baharin Albakri, it said in a statement.

Proton Holdings Bhd. (PROH MK), the national carmaker, advanced 5.2 percent to 5.25 ringgit, its highest close since Oct. 31, 2007. DRB-Hicom Bhd. (DRB MK) Managing Director Mohd Khamil Jamil confirmed that the group has put in a bid for Proton, the Star newspaper reported. Mohd Khamil was out of the office and couldn’t be reached for comment when telephoned. DRB added 1 percent to 2.08 ringgit.

Xidelang Holdings Ltd. (XIDE MK), a China-based footwear maker, lost 3.8 percent to 38.5 sen, the most since Dec. 6. Xidelang’s biggest shareholder, HongPeng International Holdings Ltd., isn’t keen on selling its stake in the footwear maker, the Edge weekly newspaper reported, citing a person it didn’t name. Xidelang Managing Director Ding Pengpeng couldn’t be reached for comment today when phoned at his office in Jinjiang, a city in China’s Fujian province.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE