Malaysia Stocks: Favelle, Jotech, Kossan Rubber, Malton, PPB
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses, and prices are as of the 12:30 p.m. break in Kuala Lumpur.
Malaysia’s FTSE Bursa Malaysia KLCI (FBMKLCI) Index rose 1.29, or 0.1 percent, to 1,545.31, set for its highest close since April 8. That’s its third day of gains. The gauge has climbed 0.3 percent this week, the second weekly gain.
Favelle Favco Bhd. (FFB) , a crane maker, gained 1.5 percent to 1.45 ringgit, set for its highest close since June 2008. The company said in a statement that it received orders totaling 50.3 million ringgit ($17 million).
Jotech Holdings Bhd. (JTEC) , a precision tool maker, climbed 7.7 percent to 14 sen, poised for its largest increase since March 16 after first-quarter profit surged fivefold from a year earlier to 7.83 million ringgit.
Kossan Rubber Industries (KRI) Bhd, a rubber-glove maker, declined 1.6 percent to 3.18 ringgit, headed for its biggest drop since April 14. First-quarter net income fell 24 percent to 23 million ringgit in the three months ended March 31 on higher latex costs, the company said in an exchange filing.
Malton Bhd. (MALT) , a property developer, rose 5.2 percent to 80.5 sen, on course for its highest close since Jan. 17. Profit in the third quarter ended March 31 surged sevenfold to 26.3 million ringgit from 3.65 million ringgit a year earlier, according to a stock exchange filing.
PPB Group Bhd. (PEP) , a Malaysian company controlled by billionaire Robert Kuok, rose 3 percent to 17.64 ringgit, set for its highest close since Jan. 7. The group plans to at least double its wheat flour million capacity in Indonesia within two years, the Edge Financial daily reported, citing Director Lim Soon Huat. Managing director Tan Gee Sooi couldn’t be immediately reached for comment when contacted by Bloomberg during the midday break.
To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at email@example.com