Malaysian Stocks: Cypark Resources, Ebworx, Envair Holding
The FTSE Bursa Malaysia KLCI Index (FBMKLCI) rose 0.4 percent to 1,590.67, set for the highest close since July 8 and the fourth day of gains. The gauge has climbed 19.4 percent from a closing low of 1,331.80 on Sep. 26.
Cypark Resources Bhd. (CYP) , an environmental and landscaping-services provider, lost 2 percent to 1.97 ringgit, poised for the biggest retreat since Feb. 28. The company plans to raise 27.5 million ringgit ($9.12 million) from selling as much as 10 percent of new stock to investors, according to a company statement.
Ebworx Bhd. (EBWX) , a computer-software provider, jumped 8.3 percent to 85 sen, set for the highest close since May 10, 2007. The company said it received a letter from Hitachi Ltd., which intends to make a buyout offer for the company, according to a statement to the Kuala Lumpur stock exchange on March 2.
Envair Holding Bhd. (ENHB) , an air pollution control systems provider, surged 3.4 percent to 30.5 sen. The company is seeking to raise 9.8 million ringgit from the sale of as much as 30 percent of new stock. The money raised will be used to help finance its new business in trading of oil and gas products, the company said in a statement.
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