Malaysia Stocks: Dutaland, Hibiscus Petroleum, Supermax, YTL
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the close in Kuala Lumpur.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index rose 0.9 percent to 1,470.93, its third day of gains and the highest close since Sept. 2. The market was shut yesterday for a public holiday.
Dutaland Bhd. (DTL) , a plantation and property group, sank 11 percent to 54 sen, the steepest loss since June 18, 2009. IOI Corp. (IOI MK) scrapped an agreement to buy oil-palm land from Dutaland for 830 million ringgit ($265 million). IOI climbed 3.1 percent to 5.26 ringgit.
Hibiscus Petroleum Bhd. (HIBI MK) advanced 3 percent to 69.5 sen, the highest close since its debut on July 25. Hibiscus agreed to buy a 35 percent stake in Lime Petroleum Plc for $55 million, it said in a statement.
Supermax Corp. (SUCB MK), a glovemaker, surged 9.2 percent to 3.56 ringgit, its highest close since Aug. 5. Demand for natural-rubber gloves is poised to rebound, OSK Holdings Bhd. said in a report today.
YTL Corp. (YTL MK), a utilities, cement and property group, advanced 2 percent to 1.52 ringgit. YTL spent 29.4 million ringgit buying back 19.7 million shares, it said in a statement.
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