Malaysia Stocks: Berjaya Sports Toto, MAA Holdings, Time dotCom
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 rose 1.6 points, or 0.1 percent, to 1,560.79.
Berjaya Sports Toto Bhd. (BST) , a lottery operator, dropped 3.1 percent, the most in almost a year, to 4.38 ringgit. The company announced a dividend of 3 sen a share for the fourth quarter ended April 30, compared with 8 sen a year earlier. OSK Research Sdn. cut the stock’s rating to “neutral” from “buy.”
MAA Holdings Bhd. (MAA) tumbled 30 percent to 72.5 sen, its steepest drop on record. The company sold its insurer unit for $115 million, leaving it with no major business. The company will be an “affected listed issuer” under stock-exchange rules, which means it must “regularize” its financial condition or risk being delisted, MAA said in a statement.
Time dotCom Bhd. (TDC) , a fiber-optic capacity provider, lost 8.9 percent to 72 sen, its steepest slide since Nov. 16, after its parent Time Engineering Bhd. (TIM) proposed selling its stake at 53 sen a share. Time Engineering dropped 5.2 percent to 45.5 sen.
To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at firstname.lastname@example.org
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