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 Index rose 0.93 points, or 0.1 per cent, to 1,489.95.
DRB-Hicom Bhd, an automotive, construction and property group, rose 10 per cent to RM2.20, its steepest gain since July 26. The company may have shown interest in acquiring a stake in national carmaker Proton Holdings Bhd from the country’s state investment fund, the Edge newspaper reported.
Glomac Bhd, a property developer, jumped 4.9 per cent to 86 sen, its highest close since Aug. 5. Second-quarter profit surged 50 per cent to RM23.8 million (US$7.6 million) from a year earlier, it said in a statement.
Lion Corp, a steel producer and builder, dropped 5.3 per cent to 18 sen, its lowest close since Oct. 11. The company may issue new shares to raise RM950 million to settle debt owed by its 79 per cent-owned Megasteel Sdn Bhd subsidiary, Lion said in a statement.
Proton Holdings Bhd, the state-controlled carmaker, soared 24.7 per cent to RM4.50, its steepest increase since Sept. 7, 1998. The Edge newspaper reported that Khazanah Nasional Bhd. may ask for bids for its 43 per cent stake in Proton.
Tenaga Nasional Bhd, the country’s biggest power producer, gained 1.4 per cent to RM5.72, set for its highest close since Nov. 16. The company signed a 25-year agreement to buy electricity from Malakoff Corp’s Tanjung Bin power plant when completed in 2016. Tenaga also agreed to sell Malakoff coal for the plant, the power company said in a statement. -- Bloomberg
DRB-Hicom Bhd, an automotive, construction and property group, rose 10 per cent to RM2.20, its steepest gain since July 26. The company may have shown interest in acquiring a stake in national carmaker Proton Holdings Bhd from the country’s state investment fund, the Edge newspaper reported.
Glomac Bhd, a property developer, jumped 4.9 per cent to 86 sen, its highest close since Aug. 5. Second-quarter profit surged 50 per cent to RM23.8 million (US$7.6 million) from a year earlier, it said in a statement.
Lion Corp, a steel producer and builder, dropped 5.3 per cent to 18 sen, its lowest close since Oct. 11. The company may issue new shares to raise RM950 million to settle debt owed by its 79 per cent-owned Megasteel Sdn Bhd subsidiary, Lion said in a statement.
Proton Holdings Bhd, the state-controlled carmaker, soared 24.7 per cent to RM4.50, its steepest increase since Sept. 7, 1998. The Edge newspaper reported that Khazanah Nasional Bhd. may ask for bids for its 43 per cent stake in Proton.
Tenaga Nasional Bhd, the country’s biggest power producer, gained 1.4 per cent to RM5.72, set for its highest close since Nov. 16. The company signed a 25-year agreement to buy electricity from Malakoff Corp’s Tanjung Bin power plant when completed in 2016. Tenaga also agreed to sell Malakoff coal for the plant, the power company said in a statement. -- Bloomberg
