Malaysia Stocks: JCY, Keck Seng, MBf, SapuraCrest, Tradewinds
Malaysia’s FTSE Bursa Malaysia KLCI Index was little changed at 1,485.42 at the 5 p.m. close in Kuala Lumpur.
JCY International Bhd. (JCYH MK), a disk-drive components supplier, fell 7.3 percent to 83 sen, the lowest since its debut in February. The company said it had a loss of 22.6 million ringgit ($7.1 million) in the fourth quarter compared with a profit of 73.5 million ringgit a year earlier because of a decline in average selling prices and foreign exchange losses.
Keck Seng (Malaysia) Bhd. (KS MK), a palm oil producer, climbed 5.5 percent to 6.33 ringgit, a record. The company said it plans to give shareholders one new share for every two owned as part of a bonus issue. The proposal is aimed at rewarding shareholders and improving liquidity of the stock, the company said in a statement.
K-Star Sports Ltd. (KSTR MK), a Chinese maker of sports footwear, plunged 36 percent to a record low of 57 sen, prompting a query by Malaysia’s stock exchange to the company to explain the reason for the price slump.
MBf Holdings Bhd. (MBFH MK), an investment group, dropped 1.5 percent to 68 sen, its steepest decline since Nov. 23, after the company had a loss of 4.55 million ringgit in the third quarter compared with a profit of 24.6 million ringgit a year earlier.
SapuraCrest Petroleum Bhd. (SCRES MK), an oil and gas services provider, added 5.7 percent to 2.80 ringgit, closing at a record. The company said its joint venture with Acergy SA received a $160 million offshore contract from PTTEP Australasia (Ashmore Cartier) Pty to provide offshore transportation and construction services for the Montara Development project in the southern Timor Sea.
Tradewinds (Malaysia) Bhd. (TWI MK), a sugar and oil palm planter, climbed 9 percent to 4.74 ringgit, its highest close since July 1, 2008 after third-quarter net income more than tripled from a year earlier to 123.8 million ringgit.
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