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Malaysian Stocks: Berjaya Assets, Frontken, Mitrajaya, Tenaga

By Gan Yen Kuan

Jan. 16 (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 fell 0.9 percent to 1,509.06, the steepest decrease since Jan. 3.

Berjaya Assets Bhd. (BJAB MK), a property management and trading company, added 1.2 percent to 84 sen, the most since Jan. 5. The company sold 12 million Berjaya Corp. (BC MK) shares for 11.3 million ringgit ($3.6 million), it said in a stock exchange filing. Berjaya Corp. fell 1.1 percent to 92 sen.

Frontken Corp. (FRCB MK), an engineering group, advanced 8.7 percent to 12.5 sen, its largest gain since Dec. 5. Executive Chairman Wong Hua Choon ceased to be substantial shareholder after selling a 5.9 percent stake to Jorg Helmut Hohnloser, according to stock exchange filings.

Mitrajaya Holdings Bhd. (MHB MK), a builder, gained 2.1 percent to 49.5 sen. The company secured 33.4 million ringgit of contracts to build houses and offices, it said in a statement.

Press Metal Bhd. (PRESS MK), a maker of aluminum products, gained 1.1 percent to 1.87 ringgit, its highest close since Nov. 9. It invested 3 billion ringgit in its second smelting plant in the eastern Sarawak state to increase total production capacity from September, Bernama reported, citing Executive Vice-President Koon Poh Ming. Koon wasn’t available for comment when phoned at his office in Selangor today.

Tenaga Nasional Bhd. (TNB MK), the country’s biggest power producer, fell 1.8 percent to 6.12 ringgit, the most since Dec. 7. The stock was downgraded to “market perform” from “trading buy” at RHB Capital Bhd. on its recent share-price increase and expectations of a first-quarter loss, Lim Tee Yang, an analyst, wrote in a report today.

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