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Malaysia Stocks: MSM Malaysia, RHB Capital, UEM, V.S. Industry

 

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 7.50, or 0.5 percent, to 1,570.02, nearing its record close of 1,574.49 on Jan. 17. The gauge has gained 1.6 percent this quarter, heading for its fourth quarterly increase, the longest stretch of gains since the three months ended March 31, 2010.

MSM Malaysia Holdings Bhd. (MSM MK), Malaysia’s biggest sugar refiner, jumped 40 percent to 4.89 ringgit in its first day of trading. The company sold shares to institutional investors at 3.50 ringgit each in its initial public offering.

RHB Capital Bhd. (RHBC) , Malaysia’s fifth-biggest banking group, climbed 3.9 percent to 9.16 ringgit, its steepest increase since June 1, after ECM Libra Capital Sdn. said the stock’s recent drop offered investors a “buying opportunity.” The shares are fairly valued at 11.60 ringgit, analyst Bernard Ching wrote in a report today. The stock slid 4.4 percent in the past five days.

Teck Guan Perdana Bhd. (TGN) , a cocoa and palm oil producer, surged 21 percent to 85 sen, the most since May 18, after profit in the first quarter ended April 30 rose 52 percent from a year earlier to 4.03 million ringgit.

UEM Land Holdings Bhd. (ULHB) rose 1.8 percent to 2.87 ringgit, its highest since April 8. Khazanah Nasional Bhd. and Temasek Holdings Pte said the Malaysian property company will help oversee the development of their joint-venture projects in Singapore.

V.S. Industry Bhd. (VSI MK), an electronics parts and components manufacturer, climbed 3.6 percent to 1.72 ringgit, the most since April 28, after profit in the third quarter ended April 30 rose 32 percent from a year earlier to 8.56 million ringgit.

 

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