Malaysian Stocks: Bursa, Genting, Land & General, Yeo Hiap Seng
The FTSE Bursa Malaysia KLCI Index (FBMKLCI) rose 0.4 percent to 1,580.67, its sixth day of gains, capping the longest winning streak since a 7-day increase through Dec. 30. The gauge advanced 0.6 percent this month.
Bursa Malaysia Bhd. (BURSA) , the country’s stock and derivatives exchange operator, dropped 2.6 percent to 5.91 ringgit, its lowest close since Oct. 5. The stock will be removed from the MSCI Malaysia Index as of the close of trading today, MSCI Inc. said in a statement dated May 15.
Genting Malaysia Bhd. (GENM) , a casino operator, dropped 3.9 percent to 3.69 ringgit, its steepest decline since Feb. 8. First-quarter profit slipped 35 percent from a year earlier to 270.7 million ringgit ($85 million), the group said in a stock-exchange filing.
Globaltec Formation Bhd. (GBLF) , an auto-parts maker, slipped 12.5 percent to 10.5 sen on its trading debut after a merger of Jotech Holdings Bhd., AutoV Corp. and AIC Corp. The stock was the most active on the bourse, with 145.7 million shares traded.
Land & General Bhd. (LGH) advanced 8.1 percent to 33.5 sen, its largest gain since Oct. 24. The property developer reported fourth-quarter profit of 24.5 million ringgit, compared with a loss of 3.2 million ringgit a year earlier, it said in an exchange filing.
Yeo Hiap Seng (Malaysia) Bhd. (YHSM MK), a beverage maker, gained 7.4 percent to 3.47 ringgit, its highest close since October 1997. Its parent YHS (Singapore) Pte plans to take the company private through a selective capital reduction and capital repayment to shareholders, who will receive 3.60 ringgit a share, Yeo Hiap Seng said in a statement.
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