Aliran, Coastal, Esso, MAA, YTL Cement: Malaysia Equity Preview
Shares of the following companies may have unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the previous close, unless stated otherwise.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index was little changed at 1,555.48.
Aliran Ihsan Resources Bhd. (AIRB) : The water treatment operator won a 28.3 million-ringgit ($9.4 million) contract from Pengurusan Aset Air Bhd. to upgrade and rehabilitate an existing plant in the southern Johor state, according to a company statement. Aliran lost 0.6 percent to 1.65 ringgit.
Coastal Contracts Bhd. (COCO) : The shipbuilder is seeking to collaborate with a partner to diversify into the offshore structure fabrication business, according to a company statement. Coastal Contracts has been in “exploratory” talks with parties which have expressed interest in a merger and acquisition, it said. Coastal Contracts hasn’t decided on whether to sell a stake, it said. The stock jumped 11 percent to 3.41 ringgit.
Esso Malaysia Bhd. (ESSO) : The petroleum products retailer said it’s unaware of any plans for Boustead Holdings Bhd. (BOUS MK) and its parent to acquire a stake in itself. Esso said this in a statement in response to a report in the Edge weekly newspaper on the potential stake sale. Esso rose 4 percent to 4.20 ringgit.
MAA Holdings Bhd. (MAA) : The insurer said the company remains in discussions with Zurich Insurance Co. regarding the sale of its stake in Malaysian Assurance Alliance Bhd. MAA will make “the necessary announcements in due course on further developments,” according to a stock exchange statement. MAA rose 1.9 percent to 1.05 ringgit before its shares were halted.
Star Publications (Malaysia) Bhd. (STAR MK): The newspaper publisher plans to sell as much as 750 million ringgit of commercial papers to help fund investments and capital expenditure, according to a company statement. Star also plans to sell another 750 million ringgit in medium-term notes, it said. The stock slid 0.6 percent to 3.48 ringgit.
YTL Cement Bhd. (YTLC) : The cement producer scrapped a $200 million exchangeable bond sale after “taking into consideration its current operational requirements and funding options,” according to a company statement. YTL Cement lost 0.4 percent to 4.85 ringgit.