Hartalega, KPJ, Star, Tenaga, TSH, UMW: 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.
Malaysia’s FTSE Bursa Malaysia KLCI (FBMKLCI) Index fell 1.3 percent to 1,483.98 on Aug. 19.
Hartalega Holdings Bhd. (HART) : The synthetic-glove maker said it will pay a minimum of 45 percent of its full-year net profit as dividends starting this fiscal year, the company said in a statement. The stock dropped 0.9 percent to 5.55 ringgit.
KPJ Healthcare Bhd. (KPJ) : The health-care group reported a 3.4 percent rise in second-quarter net income to 30.2 million ringgit ($10 million), according to an exchange filing. Its shares were unchanged at 4.57 ringgit.
Star Publications Bhd. (STAR MK): The newspaper publisher said it will sell land for 135 million ringgit to JAKS Resources Bhd. (JAK) . Star will relocate its multi-media and radio divisions to a building to be developed on the site, it said in an exchange filing. Star rose 1.2 percent to 3.39 ringgit.
Tenaga Nasional Bhd. (TNB) : Malaysia’s biggest power producer said it may not be able to maintain its dividend payments this fiscal year due to higher fuel costs. The Kuala Lumpur-company has incurred an additional 400 million-ringgit a month expense to buy alternative fuels for its power stations due to a shortfall in gas supply, it said in an exchange filing. Tenaga fell 3.1 percent to 5.55 ringgit.
TSH Resources Bhd. (TSH) : The oil palm planter and distributor of cocoa beans said second-quarter net income more than tripled to 36 million ringgit, according to an exchange filing. The stock was unchanged at 3.15 ringgit.
UMW Holdings Bhd. (UMWH) : The automaker said second- quarter net income dropped 38 percent to 131.2 million ringgit after Japan’s earthquake and tsunami temporarily disrupted parts supplies. Sales are expected to improve in the second half of this year, it said in a statement. UMW dropped 3.1 percent to 7.22 ringgit.