Malaysia Stocks: Ramunia Holdings, Sunway, Top Glove, Talam
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 5 p.m. close in Kuala Lumpur.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index dropped 4.24 points, or 0.3 percent, to 1,559.19.
Ramunia Holdings Bhd. (RH) , an oil and gas services provider, fell 3.2 percent to 45.5 sen, its lowest close since June 3, after its second-quarter profit more than halved to 1.41 million ringgit ($460,000) from a year earlier.
Sunway Holdings Bhd. (SGW) , a construction and property group, dropped 0.8 percent to 2.59 ringgit after scrapping a venture with Dasa Tourist Complex (Private) Ltd. to develop a property project in Sri Lanka.
Top Glove Corp. (TOPG MK), the world’s biggest rubber-glove maker, declined 1.3 percent to 5.19 ringgit, its lowest close since June 14. OSK Research Sdn. cut its stock rating as the company reported quarterly earnings that were below estimates. Top Glove’s rating was cut to “neutral” from “buy,” Jason Yap, an analyst at OSK, wrote in a report today.
Talam Corp. (TA MK), a property developer, sank 13 percent to 6.5 sen, the lowest since April 22, 2009. Talam’s net loss in the first quarter ended April 30 widened to 26 million ringgit from 1.6 million ringgit a year earlier as sales declined and finance costs rose, according to a company statement.
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org