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Malaysian Stocks: Kurnia, Silver Bird, Tenaga Nasional, Zhulian

By Gan Yen Kuan

April 13 (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 0.1 percent to 1,603.12, its highest close since April 3. The gauge gained 0.3 percent this week.

Kejuruteraan Samudra Timur Bhd. (KSTB MK), an oil and gas services provider, climbed 5.7 percent to 18.5 sen, its steepest increase since March 12. The company won a contract to provide tubular-handling equipment and services to Talisman Malaysia Ltd. and signed a time-charter agreement to lease a drilling rig to PT Duta Adhikarya Negeri, Kejuruteraan Samudra said in separate stock exchange filings.

Kurnia Asia Bhd. (KUAB MK) dropped 5.6 percent to 59 sen after agreeing to sell Kurnia Insurans Malaysia Bhd. for 1.55 billion ringgit ($507 million). The stock was cut to sell from hold at TA Securities Bhd., according to a report from the brokerage today.

Silver Bird Group Bhd. (SBG MK), a bread maker, fell 2.6 percent to 19 sen. The company obtained a court order restraining its creditors from suing or winding up its Stanson Marketing Sdn. unit for 90 days, Silver Bird said in a statement. Forensic investigations into financial irregularities at the group are continuing, it said.

Tenaga Nasional Bhd. (TNB MK), Malaysia’s biggest power producer, advanced 1.5 percent to 6.61 ringgit, its highest close since March 23. The company returned to profit after three straight quarters of losses with second-quarter net income of 2.82 billion ringgit, boosted by compensation from the government for a disruption in gas supply.

Zhulian Corp. (ZHCB MK), a multi-level marketing company, gained 2.1 percent to 1.94 ringgit, the most since March 21. The company’s first-quarter net income grew 29 percent from a year earlier to 28.4 million ringgit, it said in a statement.

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