Malaysia Stocks: Berjaya, Johan, Ireka Corp, Petronas Dagangan
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index rose 13.50, or 0.9 percent, to 1,545.13, its highest close since Jan. 21. The gauge climbed 1.7 percent this year, its third quarterly gain.
Berjaya Corp. (BC MK), a property, insurance and gaming group, rose 4.6 percent to 1.14 ringgit, the most since Feb. 8. Berjaya reported a profit of 32.5 million ringgit ($10.7 million) for the third quarter ended Jan. 31, compared with a loss of 156.2 million ringgit a year earlier, the company said in a statement.
Johan Holdings Bhd. (JOH) , a ceramic tile maker, dropped 8.1 percent to 34 sen, the biggest slide since May 25. Johan had a net loss of 15.3 million ringgit in the fourth quarter ended Jan. 31, compared with a profit of 9.1 million ringgit a year earlier, as finance costs rose and sales declined, according to a company statement.
Ireka Corp. (IREKA MK), a builder, surged 9 percent to 78.5 sen, its highest close since Feb. 21. Ireka won a 232.7 million ringgit contract to help build an office and hotel for Transmission Technology Sdn., according to a company statement.
Masterskill Education Group Bhd. (MASEG) , Malaysia’s largest operator of non-government nursing colleges, advanced 3.8 percent to 1.92 ringgit, its highest level since Feb. 14. The company proposed a final dividend of 7.9 sen a share, raising the total dividend for 2010 to 14.9 sen, it said in a statement. This represents a total payout of 60 percent of profits, the company said.
Petronas Dagangan Bhd. (PETD) , controlled by Malaysia’s state oil and gas company, jumped 5.8 percent to 16.50 ringgit, a record close, after CIMB Investment Bank Bhd. said the company plans to acquire assets to expand its retail network. The company is debt-free and has a cash-pile of 1 billion ringgit, Norziana Mohd Inon, an analyst at CIMB, wrote in a report today. The stock’s price estimate may be upgraded, according to the report. The stock has gained 41 percent this year, the best performer on the benchmark stock index.
To contact the reporters on this story: Chan Tien Hin in Kuala Lumpur at firstname.lastname@example.org