Malaysia Equity: Golden Land, HDM-Carlaw, Inix Technologies, Pos
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 12:30 p.m. break in Kuala Lumpur, unless stated otherwise.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index fell 5.70, or 0.4 percent to 1,517.99.
Golden Land Bhd. (GLBH) gained 1.8 percent to 1.12 ringgit, set for the highest close since Feb. 28. The plantation company plans to apply for economic concession rights to about 11,827 hectares in Cambodia to expand its land bank for palm oil cultivation, it said in a statement.
HDM-Carlaw Corp. (HDMC MK) slumped 40 percent, headed to a record low of 1.5 sen. Bursa Malaysia Bhd., the Kuala Lumpur stock exchange operator, said shares of the developer of robotic automation systems will be suspended on March 17 and de-listed on March 21.
Inix Technologies Holdings Bhd. (INIX) slid 14.3 percent to 0.6 sen, set for the lowest since Oct. 5. The security systems provider said in a statement it plans to raise as much as 1.2 million ringgit ($400,000) through a private share placement.
Pos Malaysia Bhd. (POSM) climbed 9.8 percent to 3.35 ringgit, set for its biggest advance since April 7. Khazanah Nasional Bhd. may complete a sale of its 32.2 percent stake in the postal services company by April 12, the Star newspaper said. Mohd Asuki Abas, a Khazanah Nasional spokesman, declined to comment when phoned by Bloomberg today.
To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at firstname.lastname@example.org