Malaysia Stocks: CIMB Group, Dialog, KNM Group, LPI Capital
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 rose 6.36 points, or 0.5 percent, to 1,400.05, the highest close since Sept. 21. The gauge climbed 0.9 percent this week, its second weekly gain.
CIMB Group Holdings Bhd. (CIMB) , a Malaysian banking group, advanced 0.7 percent to 7.11 ringgit. The bank said it’s in talks with San Miguel Corp. (SMC PM) for the possible acquisition of a stake in Bank of Commerce in the Philippines. The discussions are at an “early” stage, CIMB said in a statement.
Dialog Group Bhd. (DLG) , an oil and gas services provider, climbed 1.3 percent to 2.29 ringgit, the highest close since Sept. 19. Centralised Terminals Sdn., 55 percent-owned by Dialog with the remainder owned by MISC Bhd., agreed to form a joint venture with China Aviation Oil (Singapore) Corp. to build and operate a 371 million-ringgit ($117 million) oil-storage tank terminal facility in Malaysia’s Johor state, MISC said in a statement.
KNM Group Bhd. (KNMG) , an oil and gas services provider, slid 2.4 percent to 1.23 ringgit. The share-price estimate was reduced to 1.72 ringgit from 2.25 at ECM Libra Capital Sdn. to reflect a change in its valuation methodology.
LPI Capital Bhd. (LPI) , an insurer, rose 1.2 percent to 11.92 ringgit, its highest close since Sept. 23. LPI’s profit in the third quarter ended Sept. 30 rose 25 percent from a year earlier to 45.1 million ringgit, according to a company statement.
To contact the editor responsible for this story: Darren Boey at email@example.com