Malaysian Stock Movers: Bumi Armada, D’Nonce, DRB-Hicom, Maybank

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 0.8 percent to 1,567.80, its lowest close since March 13. The gauge dropped 1.5 percent this week, its biggest weekly loss since December.

Bumi Armada Bhd. (BAB MK), an offshore oilfield services provider, slid 3.8 percent to 4.06 ringgit, the most since March 16. Malaysian tycoon T. Ananda Krishnan may sell 600 million shares valued at about $825 million in the company, Reuters reported, citing an unidentified person familiar with the deal. Bumi Armada Chief Executive Officer Hassan Basma is overseas and unavailable for comment when called at his office today.

D’Nonce Technology Bhd. (DNON MK), a distributor of packaging materials, fell 1.4 percent to 35 sen. The company posted a second-quarter net loss of 4.6 million ringgit, compared with a profit of 1 million ringgit a year earlier, it said in an exchange filing.

DRB-Hicom Bhd. (DRB MK) advanced 7.2 percent to 2.54 ringgit, the largest gain since Jan. 27. The company plans to invoke a compulsory order to buy all remaining shares in Proton Holdings Bhd. (PROH MK) after acquiring 98.6 percent of the national carmaker’s stock, according to an exchange filing. Proton’s shares are suspended in Kuala Lumpur today.

Malayan Banking Bhd. (MAY MK), the country’s biggest lender better known as Maybank, dropped 2.7 percent to 8.64 ringgit. The stock began trading today without the right for shareholders to receive a 36 sen-per-share dividend.

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