Malaysian Stocks: CB, Genting, Land & General, Yeo Hiap Seng
The FTSE Bursa Malaysia KLCI Index (FBMKLCI) fell 0.1 percent to 1,574.13, headed for its first decline in six days. The gauge has risen 0.2 percent this month.
CB Industrial Product Holding Bhd. (CBP) , a farm- equipment maker, climbed 2 percent to 2.51 ringgit. First- quarter net income rose to 24.8 million ringgit ($7.8 million) from 21.9 million ringgit a year earlier, the company said in a stock-exchange filing.
Genting Malaysia Bhd. (GENM) , a casino operator, dropped 3.7 percent to 3.70 ringgit, bound for its steepest decline since Feb. 8. First-quarter profit slipped 35 percent from a year earlier to 270.7 million ringgit, the group said in an exchange filing.
Globaltec Formation Bhd. (GBLF) , an auto-parts maker, fell 8.3 percent to 11 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 126.7 million shares traded.
Land & General Bhd. (LGH MK) advanced 8.1 percent to 33.5 sen, poised for 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.
SapuraKencana Petroleum Bhd. (SAKP) , an oil and gas services provider, dropped 3.2 percent to 2.10 ringgit, the most since May 18. Norway-listed Seadrill Ltd. (SDRL NO) sold 300 million shares in SapuraKencana, reducing its stake to 6.4 percent, Seadrill said in a statement.
Yeo Hiap Seng (Malaysia) Bhd. (YHSM) , a beverage maker, gained 7.7 percent to 3.48 ringgit, headed for 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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