Axiata, Berjaya, DiGi, Malaysian Air: Malaysia Equity Preview
Malaysia’s FTSE Bursa Malaysia KLCI Index (FBMKLCI) rose 0.4 percent to 1,469.83.
Axiata Group Bhd. (AXIATA) : The Employees Provident Fund, Malaysia’s biggest pension fund, bought a net 4.6 million shares in the mobile-phone operator, a stock exchange filing showed. The stock gained 0.6 percent to 4.77 ringgit.
Berjaya Food Bhd. (BFD) : The restaurant-chain operator’s profit in the first quarter ended July 31 rose 10 percent from a year earlier to 2.86 million ringgit, according to a stock exchange filing. Berjaya Food gained 1.2 percent to 85.5 sen.
DiGi.Com Bhd. (DIGI) : Malaysia’s third-largest mobile phone operator plans to return cash to shareholders after receiving a 509 million-ringgit ($170 million) payment from a unit. The company also said investors will receive 10 shares for each one they currently own in a proposed split to make the stock more affordable and boost liquidity, according to stock exchange filings. The stock was suspended on Sept. 8. It last traded at 31.12 ringgit.
GHL Systems Bhd. (GHLS) : The online transactions provider appointed Kanagaraj Lorenz as its chief executive officer, it said in a statement. The stock was unchanged at 40 sen.
Malaysian Airline System Bhd. (MAS) : The carrier’s unions may protest the company’s planned share-swap with rival AirAsia Bhd. (AIRA) , said Alias Aziz, president of the Malaysia Airlines Employees’ Union. The union will hold a picket in November if the carrier’s management doesn’t respond to its concerns, Alias said in a telephone interview. Malaysian Air said in a statement it will continue to engage with the unions. The stock fell 0.7 percent to 1.52 ringgit. AirAsia added 0.6 percent to 3.41 ringgit.
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org