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Malaysia Stocks: ETI Tech, Ho Wah Genting, Padini, Silver Ridge

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 1,564.75, the lowest close since Feb. 28.

ETI Tech Corp. (ETIT MK), a manufacturer of batteries, sank 2.6 percent to 18.5 sen, the sharpest loss since March 6. The company will sell as much as 10 percent of new stock to investors at 17 sen a share, according to a statement to the stock exchange.

Ho Wah Genting Bhd. (HWG MK), a manufacturer of wires and cables, added 1.2 percent to 43 sen, its first gain in three days. The company isn’t selling its tin-mining business for $75 million to Sino-Platinum Metals Co. Ltd., it said, denying a report in the Nanyang Siang Pau newspaper.

Padini Holdings Bhd. (PAD MK), a garment maker and retailer, rose 4 percent to 1.58 ringgit, a record close. The stock’s share-price estimate was raised to 1.75 ringgit from 1.40 ringgit at HwangDBS Vickers Research Sdn., which said Padini’s store expansion will drive earnings growth.

Silver Ridge Holdings Bhd. (SRHB MK), a telecommunications systems and network solutions provider, fell 1.9 percent to 26 sen, after advancing 10 percent on March 9. The company said it will sell shares at 21.5 sen each through a private placement.

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