Malaysia Stocks: Dialog Group, Dijaya, Hirotako Holdings, MISC
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 4 p.m. close in Kuala Lumpur.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index fell 19.32 points, or 1.3 percent, to 1,483.98, the first drop in three days. The gauge gained less than 0.1 percent this week, the first increase in six weeks.
Dialog Group Bhd. (DLG) , an oil and gas services provider, slipped 4.8 percent to 2.57 ringgit, the largest decrease since Aug. 8. The company plans a rights offer with warrants to raise as much as 638 million ringgit ($213.6 million). The proceeds will be mostly used to diversify into upstream oil and gas exploration, the company said in a statement.
Dijaya Corp. (DJC MK), a property developer, declined 3.3 percent to 1.48 ringgit. The company plans to raise as much as 264.4 million ringgit through a private placement. The proceeds will be used to buy land and for working capital, it said in an exchange filing.
Hirotako Holdings Bhd. (HIRO) , a manufacturer of safety belts and air-bags for vehicles, lost 3.2 percent to 73.5 sen. Profit in the second quarter fell 7.6 percent from a year earlier to 8 million ringgit, according to a company statement.
MISC Bhd. (MISC) , the world’s biggest owner-operator of liquefied natural gas tankers, fell 2.7 percent to 7.10 ringgit, the first drop in three days. Net income in the first quarter ended June 30 decreased 72 percent to 121.1 million ringgit as its petroleum business incurred losses from lower freight rates, the company said. MISC also has higher losses in its liner business, it said in a statement.
Zelan Bhd. (ZELN) , a builder, declined 3.2 percent to 30.5 sen. The company reported a net loss of 8 million ringgit in the first quarter ended June 30, compared with a profit of 874,000 ringgit a year earlier, as sales dropped, it said in a statement.
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