Malaysia Stocks: AirAsia, EON Capital, Hong Leong Bank, Sumatec
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 (FBMKLCI) Index fell 3.48, or 0.2 percent, to 1,531.47, its second day of declines. The market was shut on May 2 for a public holiday.
AirAsia Bhd. (AIRA) , Southeast Asia’s biggest budget carrier, climbed 4.5 percent to 3 ringgit, its highest close since Jan. 13. The company said it will introduce fuel surcharges on all routes from today.
Asiaep Bhd. (AEP) , an e-commerce solutions provider, tumbled 15 percent to 5.5 sen, its largest drop since Aug. 10, 2009. The company’s fourth-quarter loss widened to 31.3 million ringgit ($10.5 million) from 942,000 ringgit a year earlier.
EON Capital Bhd. (EON) , a banking group, advanced 2.2 percent to 7.39 ringgit, its highest since Aug. 3, 2007. EON accepted Hong Leong Bank Bhd. (HLBK)’s 5.06 billion-ringgit takeover offer after the bid was sweetened with a dividend payment to existing EON shareholders, according to a company statement. Hong Leong added 0.2 percent to 10.42 ringgit.
Hong Leong Industries Bhd. (HLI) , an investment group, rose 3.1 percent to 3.94 ringgit, the most since March 21. The company’s fiscal third-quarter profit climbed 15 percent from a year earlier to 60.1 million ringgit.
Sumatec Resources Bhd. (SMTC) plunged 48 percent to 13 sen, a record drop. The engineering group was directed by the Kuala Lumpur stock exchange to prepare a plan to restore its finances or risk being de-listed.
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