Malaysia Stocks: Dialog, Hartalega, Hong Leong Bank, Mulpha
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index rose 12.66, or 0.8 percent, to 1,536.03, the biggest gain since March 31.
Dialog Group Bhd. (DLG) , an oil and gas services provider, rose 5.5 percent to 2.70 ringgit, an all-time high. The company is tendering with Australia’s Roc Oil Co. for rights to develop upstream oilfield projects in Malaysia.
Hartalega Holdings Bhd. (HART) , a producer of synthetic and latex gloves, added 1.2 percent to 5.77 ringgit, the most since April 15. Profit for the fourth quarter ended March 31 rose 13 percent from a year earlier to 52.4 million ringgit ($18 million).
Harrisons Holdings (Malaysia) Bhd. (HHM MK), a trader of building materials and chemical products, climbed 5.3 percent to 3.99 ringgit, a record. CIMB Investment Bank Bhd. values the stock at 6.49 ringgit a share, a 71 percent premium to yesterday’s close, analyst Nigel Foo wrote in a report today, citing earnings growth prospects.
Hong Leong Bank Bhd. (HLBK) , a banking group, advanced 4.5 percent to 12.02 ringgit, closing at an all-time high. Profit for the third quarter ended March 31 climbed 27 percent from a year earlier to 289.7 million ringgit.
Hong Leong Financial Group Bhd. (HLFG) , a banking and insurance group, jumped 4.9 percent to 11.68 ringgit, a record close. Net income in the third quarter ended March 31 surged 86 percent from a year earlier to 264.6 million ringgit as revenue increased, according to a company statement. The company also proposed a second interim dividend of 15 sen a share and a special dividend of 3 sen a share, it said.
Mulpha International Bhd. (MIT) , a property developer, gained 4 percent to 52 sen, its biggest increase since April 6, after proposing a dividend reinvestment plan.
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