Malaysia Stocks: Aikbee, Bandar Raya, KL Kepong, Multi-Purpose
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. close in Kuala Lumpur.
Malaysia’s FTSE Bursa Malaysia KLCI (FBMKLCI) Index jumped 32.40 points, or 2.4 percent, to 1,364.20, snapping a three-day decline. The gauge’s gain is the biggest since April 10, 2009.
Plantation stocks: Kuala Lumpur Kepong Bhd. (KLK) rose 4.3 percent to 20.40 ringgit, the most since Feb. 7. IOI Corp. (IOI MK) added 2.3 percent to 4.46 ringgit. Tradewinds Plantation Bhd. (TWPB) climbed 4.8 percent to 3.09 ringgit. Palm oil prices in Malaysia climbed as much as 1.5 percent, snapping a four-day slide.
Aikbee Resources Bhd. (AIK) , a timber group, climbed 4.7 percent to 90 sen. Aikbee said a group of shareholders with a combined 38 percent stake has made an offer to buy the rest of the shares they don’t already own for 1 ringgit each, according to a stock-exchange filing.
Bandar Raya Developments Bhd. (BRD) , a property developer, gained 5 percent to 1.91 ringgit, its steepest rally since Sept. 6. Bandar has stopped talks to sell offices and malls to Ambang Sehati Sdn. for 430 million ringgit ($136 million) and will instead dispose of them through a tender. An independent international property-valuation firm will be appointed to manage the bids and Ambang Sehati will be invited to participate, it said in a statement.
Multi-Purpose Holdings Bhd. (MPU) , a property and gaming company, advanced 7.2 percent to 2.37 ringgit, the most since Jan. 3. The company agreed to sell its office tower in Kuala Lumpur to the Malaysian Chinese Association for 375 million ringgit, it said in a statement.
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