Atlan, Dialog, Hua Yang, ManagePay: 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 fell 0.1 percent to 1,579.84.
Atlan Holdings Bhd. (ALN) : The Malaysian stamped metal components maker and duty-free retailer said profit in the first quarter ended May 31 surged to 92.2 million ringgit ($31 million) from 24.2 million ringgit a year earlier after making gains from the sale of land, according to a stock filing. Atlan was unchanged at 3.32 ringgit.
Axiata Group Bhd. (AXIATA) : The Employees Provident Fund, the second largest shareholder of Axiata, sold 7 million shares in the mobile-phone operator, a stock exchange filing showed. The stock gained 0.2 percent to 5.06 ringgit.
Dialog Group Bhd. (DLG) : The oil and gas services provider agreed to buy a 51 percent stake in Anewa Engineering Pre., an Indian outsourcing company, for 7.9 million ringgit, it said in a statement. Anewa provides engineering design services to companies in the oil, gas and petrochemical industries in India, Middle East and Southeast Asia, Dialog said. The stock was unchanged at 2.61 ringgit.
Hua Yang Bhd. (HYB) : The property developer proposed a one-for-three bonus share issue to reward investors and improve trading liquidity, according to a company statement. The stock gained 0.6 percent to 1.76 ringgit.
ManagePay Systems Bhd. (MPSB MK): The payment services provider signed a preliminary agreement to jointly develop a online business with Taisea Capital Ltd. The stock was unchanged at 16.5 sen.
Pos Malaysia Bhd. (POSM) , the national postal company named Mohd Khamil Jamil as its new chairman, replacing Aseh Che Mat, it said in a statement. Mohd Khamil is group managing director of DRB-Hicom Bhd. (DRB) , which bought a 32.2 percent stake in Pos. Shares of Pos fell 0.6 percent to 3.21 ringgit.
TechnoDex Bhd. (TDEX) : The software company proposed to sell a 10 percent stake in a private placement to raise as much as 2.4 million ringgit, it said in a statement. The money raised will be used for working capital, the company said. Its shares were unchanged at 8.5 sen.
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