Malaysia Stocks: Dialog, IOI, Mitrajaya, Petronas Dagangan
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 5 p.m. close in Kuala Lumpur.
The FTSE Bursa Malaysia KLCI Index rose 2.26, or 0.2 percent, to 1,508.56, its third day of gains.
Dialog Group Bhd. (DLG MK), an oil and gas services provider, advanced 3.3 percent to 2.20 ringgit, its largest increase since Feb. 2. The company said profit in the second quarter ended Dec. 31 climbed 26 percent from a year earlier to 36 million ringgit ($12 million), according to a statement to the stock exchange.
IOI Corp. (IOI MK), Malaysia’s second-biggest listed palm oil producer, slid 2.3 percent to 5.58 ringgit, the largest drop since Feb. 10. Bernard Ching, an analyst at ECM Libra Capital Sdn., cut the stock’s rating to “hold” from “trading buy” on slower growth prospects, according to a report today.
Mitrajaya Holdings Bhd. (MHB MK), a builder, dropped 1 percent to 1.95 ringgit after a stock filing showed Samsudin Bin Abu Hassan, a businessman, ceased to be a substantial shareholder in the company.
Petronas Dagangan Bhd. (PETD MK), the retail arm of Malaysia’s state oil and gas company, climbed 1.6 percent to 12.70 ringgit, a record close. Profit in the third quarter ended Dec. 31 rose 26 percent from a year earlier to 236.2 million ringgit as revenue gained, it said in a statement.
Theta Edge Bhd. (THETA MK), a telecommunications services company, jumped 5 percent to 94.5 sen. The company plans to raise as much as 31.6 million ringgit selling new shares with warrants to existing shareholders at an indicative price of 1 ringgit each, it said in a statement.
Zelan Bhd. (ZELN MK), a builder, slid 5.2 percent to 55 sen, the largest drop since Nov. 26, after reporting a quarterly loss of 41.3 million ringgit in the third quarter ended Dec. 31. Zelan will continue to post losses in the fiscal fourth quarter, it said in a statement.
To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at firstname.lastname@example.org
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