Malaysian Stocks: HeiTech, Kimlun, Proton, Shin Yang, Takaso
The FTSE Bursa Malaysia KLCI Index (FBMKLCI) rose 0.1 percent to 1,510.26, snapping a two-day decline.
HeiTech Padu Bhd. (HEIT) , a computer-services company, added 1 percent to 1.04 ringgit, set for its highest close since Jan. 5. The company secured a 63.6 million-ringgit ($20 million) contract to develop a banking software system for Bank Simpanan Nasional Bhd., HeiTech said in a statement.
Kimlun Corp. (KICB MK), a builder, climbed 2.3 percent to 1.35 ringgit, headed for its steepest increase since Jan. 5. The company won an 82.1 million-ringgit contract to build serviced apartments in the southern Johor state, it said in a statement.
Proton Holdings Bhd. (PROH) , the national carmaker, advanced 5 percent to 5.44 ringgit, the most since Jan. 9. DRB- Hicom Bhd. (DRB) agreed to buy Khazanah Nasional Bhd.’s 43 percent stake in Proton at 5.50 ringgit per share, and extended the offer to all remaining shareholders, according to stock exchange filings. DRB-Hicom fell 1.8 percent to 2.13 ringgit, set for the largest drop since Dec. 19.
Shin Yang Shipping Corp. (SHIN) , a maritime-services provider, gained 1.7 percent to 59 sen, bound for its steepest increase since Jan. 11. The company bought 70 percent of Hock Leong Shipping Sdn. for 2.1 million ringgit, according to a stock exchange filing.
Takaso Resources Bhd. (TRB) , a consumer-products company, rose 2.3 percent to 22.5 sen, set for its largest increase since Jan. 9. The company proposed a private placement to raise as much as 4.95 million ringgit to fund a timber industry venture in Papua New Guinea, it said in a statement.
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