Allianz, Boustead, Icapital, MNRB: Malaysia Equity Preview
Shares of the following companies may have unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the previous close, unless stated otherwise.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index rose 0.6 percent to 1,591.34.
Allianz Malaysia Bhd. (ALLZ) : The insurer scrapped talks to buy a stake in Takaful Ikhlas Sdn. from MNRB Holdings Bhd. (MNRB) , according to a company statement. Allianz rose 0.2 percent to 5.01 ringgit. MNRB added 1.4 percent to 2.90 ringgit.
Boustead Holdings Bhd. (BOUS) : The plantation and financial services group plans to cut its stake in Pharmaniaga Bhd. (PHRM), it said in a statement. Boustead will sell Pharmaniaga shares at 5.75 ringgit each to Lembaga Tabung Angkatan Tentera, Boustead directors and employees, and investors, it said. The company will also distribute Pharmaniaga shares to shareholders as a “dividend-in-specie” while Pharmaniaga will undertake a bonus issue, it said. Boustead fell 2.2 percent to 5.93 ringgit.
Icapital.biz Bhd. (ICAP) : The Malaysian closed-end fund said profit in the fourth quarter ended May 31 dropped 90 percent from a year earlier to 3.11 million ringgit ($1 million) as revenue slid, according to a company statement. The stock was unchanged at 2.19 ringgit.
Public Bank Bhd. (PBK) : The Employees Provident Fund, Malaysia’s largest pension fund, sold 5.9 million shares in the banking group, stock exchange filings showed. The shares gained 0.2 percent to 13.30 ringgit.
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