Alam, DiGi, Infortech, Sime, Telekom: Malaysia Equity Preview
Shares of the following companies may have unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the previous close, unless stated otherwise.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index rose 0.1 percent to 1,524.05.
Alam Maritim Resources Bhd. (AMRB) : The oil and gas services provider won contracts valued at 24.8 million ringgit ($8.3 million) to supply five workboats to two companies, according to an exchange filing. Alam Maritim fell 0.9 percent to 1.14 ringgit.
CB Industrial Product Holding Bhd. (CBP) : The farm- equipment maker won a 38.4 million-ringgit contract to supply 100 ambulances to Malaysia’s Health Ministry, according to a company statement. The stock was unchanged at 4.45 ringgit.
Infortech Alliance Bhd. (INAL) : The computer software company agreed to issue new shares to buy Jaring Metal Industries Bhd. for 64.8 million ringgit. The company also plans to raise more than 15.5 million ringgit from a restricted issue to help repay debt, it said in a statement. The shares rose 34 percent to 19.5 sen before they were suspended yesterday.
KAF-Seagroatt & Campbell Bhd. (KAF) : The Malaysian stock brokerage said profit in the third quarter ended Feb. 28 surged 68 percent from a year earlier to 4.01 million ringgit as sales gained, according to a company statement. KAF was unchanged at 1.40 ringgit on April 20.
Padini Holdings Bhd. (PAD) : Puncak Bestari Sdn. ceased to be a substantial shareholder of Padini after selling 179.3 million shares, or a 27 percent stake, in the Malaysian garment manufacturer and retailer, a stock filing showed. Padini jumped 10 percent to 1.19 ringgit.
Sime Darby Bhd. (SIME) : The world’s biggest palm oil planter said its engineering unit won a 1.15 billion-ringgit fabrication contract from Kebabangan Petroleum Operating Company Sdn., according to an exchange filing. Sime was unchanged at 9 ringgit.
Telekom Malaysia Bhd. (T) : The state-linked phone and Internet services company formed a group with 21 other companies including DiGi.Com Bhd. (DIGI) to procure “lower-cost” bandwidth and potentially invest in an international submarine cable system, according to an exchange filing.
Separately, Telekom said in a statement it issued 150 million ringgit of Islamic bonds, the first tranche of a 2 billion-ringgit sukuk program. Telekom Malaysia fell 0.3 percent to 4.01 ringgit. Digi gained 0.6 percent to 29 ringgit.
To contact the editor responsible for this story: Darren Boey at email@example.com