Berjaya, Hua Yang, MAA, Petronas Gas: Malaysia Stock 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 fell 0.3 percent to 1,559.19.
Berjaya Sports Toto Bhd. (BST) : The Malaysian lottery operator’s net income in the fourth quarter ended April 30 rose 29 percent from a year earlier to 104.2 million ringgit ($34 million), bolstered by higher sales and lower prize payouts, according to a company statement. The stock dropped 0.2 percent to 4.52 ringgit.
Hua Yang Bhd. (HYB) : The property developer won an auction to buy 3.7 acres of land in Shah Alam city in Selangor state for 13 million ringgit, according to a company statement. The stock gained 0.7 percent to 1.49 ringgit.
MAA Holdings Bhd. (MAA) : Zurich Financial Services AG, Switzerland’s biggest insurer, will buy Malaysian Assurance Alliance Bhd. from MAA Holdings for $115 million. Zurich plans to inject $172 million of capital into the firm to comply with Malaysian requirements after the transaction closes, the Swiss company said in an e-mailed statement. MAA fell 2.8 percent to 1.03 ringgit.
Petronas Gas Bhd. (PTG) : The Employees Provident Fund, Malaysia’s biggest pension fund, bought 1.37 million shares in the natural gas distributor, an exchange filing showed. The stock slipped 0.3 percent to 12.90 ringgit.
Sunchirin Industries (Malaysia) Bhd. (SCR MK): The automobile components maker agreed to buy two lots of industrial land in Indonesia for a total of $3.3 million, according to an exchange filing. The stock decreased 1.1 percent to 1.86 ringgit.
Yinson Holdings Bhd. (YNS) : The transport services provider won a contract from Petro Vietnam Technical Service Corp. to provide an offshore support vessel. The contract, valued at as much as 75 million ringgit, is for two years, with an option to extend for another five years, it said in a statement. The shares were unchanged at 1.75 ringgit.
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