Malaysia Stock Movers: CSC Steel, Dialog, IJM, Sindora, Utusan
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. trading close in Kuala Lumpur.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index rose 16.07, or 1.1 percent, to 1,499.74, its biggest gain since Jan. 4.
CSC Steel Holdings Bhd. (CSCS) , a producer of steel pipes, cold-rolled coils and steel sheets, dropped 3.3 percent to 1.48 ringgit, its lowest close since Feb. 3, 2010. Second- quarter net income fell 80 percent to 6.4 million ringgit ($2.1 million).
Dialog Group Bhd. (DLG) , an oil and gas services group, rose 3.6 percent to 2.61 ringgit, the steepest increase since July 20, after fourth-quarter net income grew 45 percent from a year earlier to 44.9 million ringgit.
IJM Corp. (IJM MK) advanced 1.6 percent to 5.90 ringgit, the largest gain since July 21, after UOB-Kay Hian Holdings Ltd. said the Malaysian builder’s order-book may reach 9 billion ringgit this year.
Sindora Bhd. (SDRA) jumped 29 percent to 2.65 ringgit before its shares were suspended. Sindora’s parent, Kulim Malaysia Bhd. (KUL), said in a statement it plans to make a takeover offer for the rest of the oil and gas, timber and plantation group.
Utusan Melayu Malaysia Bhd. (UTUS) , a newspaper publisher, climbed 2.7 percent to 76 sen, the highest close since Aug. 3. Utusan will make an 11.8 million-ringgit gain from selling a printing unit, according to a company statement.
To contact the reporters on this story: Chan Tien Hin in Kuala Lumpur at firstname.lastname@example.org
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