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Malaysia Equity Movers: Deleum, Inari, Selangor Dredging, Zelan

By Anuchit Nguyen

March 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 for the first time in three days, losing 0.5 percent to 1,571.40. The gauge dropped 0.5 percent this week, a second weekly decline.

Deleum Bhd. (DLUM MK), an equipment and services provider for oil and gas companies, jumped 10 percent to 2.44 ringgit, the highest close since February 2008. The company proposed a one-for-two bonus share issue, it said in a statement to the stock exchange.

Inari Bhd. (INRI MK), a semiconductor packaging services company, dropped 2.6 percent to 37 sen, the biggest decline since Feb. 3. The company aims to raise 1.9 million ringgit from the sale of 5 million new shares, it said in a regulatory filing.

Selangor Dredging Bhd. (SDR MK), a property developer, gained 1.4 percent to 71 sen. The company agreed to buy land for 34.5 million ringgit, it said in a filing. Land gross development value is 150 million ringgit, it said.

Zelan Bhd. (ZELN MK), a builder, jumped 6.4 percent to 50 sen, the most since Feb. 28. Zelan signed a concession agreement with the government to develop and operate the Gombak integrated transport terminal, the company said in a statement. The construction cost will be about 307.4 million ringgit, it said.

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