Malaysia Stocks: BIMB, China Ouha, Engtex, Latexx, Supermax
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 4.47, or 0.3 percent, to 1,536.27, the most since May 6. The market will be shut tomorrow for a public holiday.
BIMB Holdings Bhd. (BIMB) climbed 2.5 percent to 1.65 ringgit, its highest close since April 22. DRB-Hicom Bhd. (DRB) said it’s considering a possible merger between its Bank Muamalat Malaysia Bhd. unit and BIMB’s Bank Islam Malaysia Bhd., according to a company statement.
China Ouhua Winery Holdings Ltd. (COWH) , a producer and retailer of wine, slid 6.1 percent to 46.5 sen, its steepest drop since March 15. First-quarter net income fell 12 percent from a year earlier to 18.6 million ringgit ($6.1 million), the company said in a stock exchange filing.
Engtex Group Bhd. (ENGT) , a pipemaker, gained 3.4 percent to 91 sen, the largest increase since April 6. Engtex agreed to buy 182 acres of land in Selangor state for 44.4 million ringgit, according to a company statement. Engtex plans to develop an integrated industrial park on the land with an estimated gross development value of 166 million ringgit, it said.
Latexx Partners Bhd. (LTX) tumbled 9.8 percent to 2.40 ringgit, the most since Jan. 15, 2010, after saying a buyout offer by Navis Asia VI Management Co. for the Malaysian glove- maker was scrapped.
Supermax Corp. (SUCB MK), a rubber-glove maker, fell 2 percent to 3.88 ringgit, its lowest close since Sept. 30. First- quarter net income dropped 53 percent from a year earlier to 24.4 million ringgit because of higher latex prices, the company said in a statement.
Yokohama Industries Bhd. (YOKO) , a manufacturer of automobile batteries, gained 4.1 percent to 76 sen, the highest since Oct. 4. Yokohama received an option from Mehran Cycle Industries (Pvt) to buy as much as 49 percent of Mehran Yokohama Batteries (Pvt) in Pakistan, according to a company statement.
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