Petronas Chemicals, K&N Kenanga, Sime: Malaysia Equity Preview
The following companies may have unusual price changes in Malaysia trading. Stock symbols are in parentheses, and share prices are from the most recent close. Malaysia’s FTSE Bursa Malaysia KLCI Index fell 0.2 percent to 1,511.58.
Petronas Chemicals Group Bhd. (PCHEM MK): The petrochemical unit of state-owned Petroliam Nasional Bhd. said it halted operations at an aromatic plant within its petrochemical complex in Kertih in the state of Terengganu as a safety precaution after a fire broke out. No one was injured in the fire, which was extinguished “shortly after,” Petronas Chemicals said in an e-mailed statement in Kuala Lumpur on Dec. 25. An investigation is under way, it said. The stock fell 0.4 percent to 5.55 ringgit.
K&N Kenanga Holdings Bhd.(KNK MK): The investment banking and stock-broking group said it will report additional impairment charges of 44.3 million ringgit ($14 million) because of writedowns in collateral values of a loan and an investment at an associate company. The charges will be reflected in its fourth-quarter results. The stock was unchanged at 73.5 sen.
Sime Darby Bhd. (SIME MK): The country’s biggest palm oil producer filed another civil suit against former Chief Executive Officer Ahmad Zubir Murshid and two others at the Kuala Lumpur high court in connection with losses at the Bakun hydroelectric plant project. The move came after Sime completed an audit into losses at its energy and utilities division. The shares added 0.1 percent to 8.73 ringgit.
To contact the editor responsible for this story: Darren Boey in Hong Kong at email@example.com