Malaysian Stock Movers: Can-One, Harvest Court, Proton, Xidelang
The FTSE Bursa Malaysia KLCI Index rose 0.28 point, or less than 0.1 percent, to 1,514.41.
Can-One Bhd. (CAN) , a maker of tin cans, advanced 12 percent to 1.78 ringgit, set to close at a record. The Federal Court allowed the company to proceed with the purchase of a 33 percent stake in Kian Joo Can Factory Bhd. (KJC MK) for 241 million ringgit ($76 million), Can-One said in a statement. Kian Joo fell 3.6 percent to 2.12 ringgit.
Harvest Court Industries Bhd. (HAR) , a timber company, jumped 30 percent to 1.40 ringgit, on course for its steepest increase since Nov. 18. The stock exchange removed trading restrictions imposed on the company in November, Harvest Court said in a statement.
Proton Holdings Bhd. (PROH) , the national carmaker, climbed 3 percent to 5.14 ringgit, headed for its highest close since Nov. 2, 2007. DRB-Hicom Bhd. (DRB) Managing Director Mohd Khamil Jamil confirmed that the group has put in a bid for Proton, the Star newspaper reported. Mohd Khamil was out of the office and couldn’t be reached for comment when telephoned. DRB added 1.5 percent to 2.09 ringgit.
Xidelang Holdings Ltd. (XIDE) , a China-based footwear maker, slid 3.8 percent to 38.5 sen, the most since Dec. 6. Xidelang’s biggest shareholder, HongPeng International Holdings Ltd., isn’t keen on selling its stake in the footwear maker, the Edge weekly newspaper reported, citing a person it didn’t name. Xidelang Managing Director Ding Pengpeng couldn’t be reached for comment today when phoned at his office in Jinjiang, China.
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