By Gan Yen Kuan
April 2 (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 rose for a third day, adding 0.5 percent to 1,603.78, extending its gains to a record.
Alliance Financial Group Bhd. (AFG MK) advanced 1.8 percent to 3.96 ringgit, its highest close since Feb. 2. Singapore’s DBS Bank Ltd. received approval from Malaysia’s central bank to start talks with a unit of Fullerton Financial Holdings Pte. to acquire an effective 14 percent of Alliance, according to a filing to the Singapore stock exchange.
Johan Holdings Bhd. (JOH MK), a ceramic tile maker, dropped 4.4 percent to 22 sen, its steepest decline since March 19. Its fourth-quarter net loss widened to 18.3 million ringgit ($6 million) from 15.6 million ringgit a year earlier, according to a stock-exchange filing.
Tenaga Nasional Bhd. (TNB MK), the country’s biggest power producer, rose 1.9 percent to 6.55 ringgit, the most since March 22. The stock was upgraded to buy from neutral at OSK Holdings Bhd., which cited a decline in coal prices and a recovery in the country’s supply of gas to power plants, Chris Eng, an analyst at OSK, wrote in a report today. He raised its so-called fair value to 7.68 ringgit from 6.36 ringgit.