Malaysian Stock Movers: AMMB, Boustead Heavy, Genetec, Ingress
The FTSE Bursa Malaysia KLCI Index rose 1.1 percent to 1,481.13, set for the largest gain since Nov. 30. The benchmark gauge has fallen 2.5 percent year to date.
AMMB Holdings Bhd. (AMM) , a banking group, climbed 2.6 percent to 5.85 ringgit, headed for its steepest increase since Nov. 29. Standard & Poor’s raised the credit ratings at the group’s AmBank (M) Bhd. and AmInvestment Bank Bhd. units, AMMB said in a statement.
Boustead Heavy Industries Corp. (BOUS) , a shipbuilder, rose 4.1 percent to 3.31 ringgit, bound for its highest close since Aug. 8. The company may be bought out by its parent Boustead Holdings Bhd. (BOUS MK), the Star newspaper reported, citing people it didn’t name. Boustead Managing Director Lodin Wok Kamaruddin couldn’t immediately return calls seeking comment.
Genetec Technology Bhd. (GENE) , an industrial automated- equipment maker, advanced 7.5 percent to 21.5 sen, on course for its biggest increase since Nov. 17. The company won new orders worth 16.5 million ringgit ($5 million), it said in a statement.
Ingress Corp. (INGC) , an auto-parts supplier, jumped 6.4 percent to 75 sen, set for its largest gain since July 28. Third-quarter net income tripled from a year earlier to 6.7 million ringgit, according to an exchange filing.
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