By Gan Yen Kuan
Jan. 10 (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 was little changed at 1,521.99.
Bina Puri Holdings Bhd. (BIN MK), a builder, climbed 3.4 percent to 90.5 sen, its largest gain since Dec. 1. The company priced a share sale at 1 ringgit each, 14 percent higher than yesterday’s closing price of 87.5 sen, according to a stock exchange filing.
Gamuda Bhd. (GAM MK), a builder, gained 3.5 percent to 3.53 ringgit, its highest close since Aug. 4. The company was invited by China Railway Construction Corp. (601186 CH) to be its local partner in a group bidding for a Malaysian railway project, Gamuda wrote in an e-mail to Bloomberg News. The company was responding to a report in the Star newspaper today that said it’s part of a group that may be the front-runner for the 8 billion-ringgit ($2.6 billion) contract.
LPI Capital Bhd. (LPI MK), an insurer, rose 1.7 percent to 14.08 ringgit, the most since July 8. Fourth-quarter net income grew 6.5 percent to 39.3 million ringgit, the company said in a stock exchange filing.
Shin Yang Shipping Corp. (SHIN MK), a maritime-services provider, advanced 12 percent to 54.5 sen, its highest close since Oct. 17. The stock’s share price may rise to 1 ringgit because of its “resilient” earnings and a turnaround in the industry, Leong Hon Sze, an analyst at ECM Libra Financial Group Bhd., wrote in a report today.
Telekom Malaysia Bhd. (T MK), the country’s biggest fixed-line phone operator, added 1 percent to 4.91 ringgit. The stock’s so-called fair value was raised to 5.50 ringgit from 5.15 ringgit at OSK Holdings Bhd. to reflect higher profit forecasts. Telekom may pay a special dividend of 13 sen per share in the first quarter, Jeffrey Tan, an analyst at OSK, wrote in a report today.