Malaysia Stock Movers: JCY, KNM Group, MNRB, Sunway, Tradewinds
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 12:30 p.m. trading break in Kuala Lumpur.
Malaysia’s FTSE Bursa Malaysia KLCI (FBMKLCI) Index rose 1.12 points, or 0.1 percent, to 1,473.28, its first gain in three days.
JCY International Bhd. (JCYH) , a disk-drive components maker, tumbled 8.5 percent to 43 sen, set for its biggest decline since Aug. 8. JCY had a loss of 31.9 million ringgit ($10.7 million) in the third quarter ended June 30 compared with a profit of 55.6 million ringgit a year earlier, it said in a statement.
KNM Group Bhd. (KNMG) , an oil and gas services provider, dropped 3.4 percent to 1.43 ringgit, bound for its lowest close since March 19, 2009. Second-quarter net income fell 23 percent to 10.9 million ringgit.
MNRB Holdings Bhd. (MNRB) , a reinsurance company, rose 2 percent to 3.02 ringgit, set for its biggest increase since Aug. 4. Profit in the first quarter ended June 30 surged 64 percent from a year earlier to 43 million ringgit, the company said in a statement.
Sunway Bhd. (SWB MK), a property and construction group, fell 13 percent from its reference price of 2.80 ringgit to 2.45 ringgit on its debut. Sunway was formed to acquire Sunway Holdings Bhd. and Sunway City Bhd. as part of a 4.5 billion ringgit merger. Sunway bought the property and construction companies by offering cash and new shares at 2.80 ringgit each, according to its prospectus dated Aug. 18.
Tradewinds Corp. (TWC MK), a property, construction and financial services group, lost 3.2 percent to 75 sen, on course for its lowest close since Sept. 7. Second-quarter net income slid 31 percent to 7.84 million ringgit, a stock filing showed.