Malaysia Stocks: Bina Puri, Dialog, MTD Capital, PLUS, Time
Malaysia’s FTSE Bursa Malaysia KLCI Index rose 9.30, or 0.6 percent, to 1,505.18 at the 5 p.m. close in Kuala Lumpur, its biggest gain since Dec. 9.
Bina Puri Holdings Bhd. (BIN MK), a construction group, climbed 6 percent to 1.41 ringgit, its highest close since July 19. The company said it received a 158.4 million ringgit ($50.5 million) building contract in Brunei from Chuon Tzu Construction Company Sdn., according to a company statement.
Dialog Group Bhd. (DLG MK), an oil and gas services provider, gained 2.2 percent to 1.83 ringgit, a record close. The company was raised to “outperform” from “underperform” at CIMB Group Holdings Bhd. to reflect its earnings growth prospects.
MTD Capital Bhd. (MTD MK), a builder, rose 5.1 percent to 9.35 ringgit, a record close. The company said it received a buyout offer at 9.50 ringgit a share from a group of companies owning a combined 53.1 percent stake. The companies are linked to MTD Chairman Nik Hussain Abdul Rahman, according to a statement by MTD.
PLUS Expressways Bhd. (PLUS MK), Malaysia’s biggest toll- road operator, advanced 5.5 percent to 4.60 ringgit, a record close. The company said it received a 26 billion-ringgit ($8.3 billion) takeover offer from Jelas Ulung Sdn. Jelas Ulung offered the equivalent of 5.20 ringgit a share for the assets and liabilities of PLUS, the company said in a statement. That’s higher than an earlier joint bid of 4.60 ringgit a share by state-controlled UEM Group Bhd. and the Employees Provident Fund.
Time dotCom Bhd. (TDC MK), a fiber optic capacity provider, gained 12 percent to 77 sen, the most since March 24. The company said it signed an agreement with MEASAT Broadcast Network Systems Sdn. to provide Internet protocol television and broadband services.
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