Malaysian Stock Movers: Ann Joo, Coastal, Genting, MISC, MNRB
The FTSE Bursa Malaysia KLCI Index fell 1.1 percent to 1,431.55, its lowest since Oct. 12. The gauge dropped 1.6 percent this week, its fourth weekly decline. The market will be shut on Nov. 28 for a public holiday.
Ann Joo Resources Bhd. (AJR) , a steelmaker, declined 4 percent to 1.90 ringgit, its lowest level since Oct. 4. The company had a third-quarter net loss of 24.5 million ringgit ($7.7 million), compared with a profit of 10.4 million ringgit a year earlier.
Coastal Contracts Bhd. (COCO) , a shipbuilder, slid 3.7 percent to 1.85 ringgit, the steepest retreat since Nov. 1. Third-quarter profit dropped to 36.7 million ringgit from 53.6 million ringgit a year earlier.
Genting Bhd. (GENT) , a casino, power and plantation group, dropped 2.5 percent to 10.02 ringgit, its lowest close since Oct. 25. Third-quarter net income fell 22 percent from a year earlier to 597.2 million ringgit.
MISC Bhd. (MISC) , the world’s largest owner-operator of liquefied natural gas tankers, sank 5.4 percent to 5.80 ringgit, its lowest since Oct. 11. MISC said it will stop operating container vessels after the unit lost $789 million in three years. The move will result in a one-off $400 million charge this year, MISC said in a statement.
MNRB Holdings Bhd. (MNRB) , a reinsurance company, dropped 7 percent to 2.66 ringgit, the most since November 2008. MNRB had a second-quarter net loss of 5.9 million ringgit, compared with a profit of 21.3 million ringgit a year earlier.
Muhibbah Engineering (M) Bhd. (MUHI) , a builder, added 1.9 percent to 1.09 ringgit. Third-quarter net income doubled to 16.8 million ringgit from a year earlier.
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