KL shares close lower

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the close in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index fell 0.3 per cent to 1,468.75, a second day of losses. The gauge declined for the second straight week, dropping 0.6 per cent.

C.I. Holdings Bhd, a beverage group, jumped 5.5 per cent to RM5.22, its highest close since June 6, 2000. The company is proposing to increase the size of its cash distribution to RM5.10 a share.

Century Logistics Holdings Bhd, a transport services provider, climbed 3 per cent to RM1.70, its highest close since Aug. 23. Earnings in the third quarter grew to RM8.99 million.

Equine Capital Bhd, a property developer, increased 6.7 per cent to 56 sen, the steepest gain since April 1. Profit in the second quarter almost doubled to RM12 million from RM6.3 million a year earlier.

iDimension Consolidated Bhd, a Malaysian software developer, rose 1.3 per cent in its debut on the Kuala Lumpur stock exchange today. The stock climbed to 38.5 sen from an initial public offering price of 38 sen.

MWE Holdings Bhd, a yard and fabric manufacturer, increased 1.6 per cent to RM1.25, its highest close this month. Third-quarter profit rose 3 per cent to RM12.5 million.

United Malayan Land Bhd, a Malaysian property developer, gained 2.1 per cent to RM1.44, its biggest increase since Oct. 13. The company agreed to buy Tentu Teguh Sdn Bhd and land in Iskandar, Johor, for RM11 million. -- Bloomberg

Equine’s 2Q earnings up 90%

KUALA LUMPUR: Equine Capital Bhd posted a 91.4% year-on-year jump in net profit to RM12.02 million for 2QFY12 ended Sept 30.

Revenue was up 115% in the same period to RM99.2 million, boosted by its property development segment, according to its announcement to Bursa Malaysia yesterday.

The company noted that the improved results were due to the disposal of a parcel of leasehold land that was recognised in the income statements in the quarter under review as well as the higher construction progress achieved for ongoing projects in Seri Kembangan.

Equine’s 2QFY12 net profit was 17.84% higher than its 2QFY11 net profit of RM10.2 million.


This article appeared in The Edge Financial Daily, November 11, 2011.

Equine rises on doubling Q2 profit

Equine Capital Bhd, a Malaysian property developer, rose the most in more than seven months in Kuala Lumpur trading, after reporting its second-quarter profit almost doubled to RM12 million from RM6.3 million a year earlier.

The shares rose 5.7 percent to 55.5 sen at 9:19 a.m., set for the steepest gain since April 1. -- Bloomberg