Bloomberg News

Malaysia Stocks: MISC, Mah Sing Group, Tomypak, Yeo Hiap Seng

April 23, 2010

Malaysia’s FTSE Bursa Malaysia KLCI Index (FBMKLCI) fell 1.08, or 0.1 percent, to 1,335.93 at the 12:30 p.m. local-time break. Nineteen stocks declined and five rose on the 30-member measure. For the week, the gauge has climbed 0.2 percent.

MISC Bhd. (MISC) , the world’s biggest owner of liquefied natural gas tankers, rose 2.1 percent to 8.98 ringgit, set for its highest close since June 4, 2008, after AmResearch Sdn. upgraded the stock to “buy” from “hold” to reflect a recovery in tanker rates. The share price estimate was increased to 11.80 ringgit from 8.85 ringgit, AmResearch analyst Hafriz Hezry said in a report today.

Mah Sing Group Bhd. (MSGB) , a property developer, advanced 1.2 percent to 1.67 ringgit. The company said it paid 53.8 million ringgit for 1.44 acres of land in Ampang, Kuala Lumpur, to build serviced apartments. The company estimated the project would have a gross development value of 257 million ringgit, it said in a statement.

Tomypak Holdings Bhd. (TOMY) , a Malaysian plastic flexible packaging company, added 8.4 percent to 3.23 ringgit, set for its steepest gain since Jan. 26, after CIMB Investment Bank Bhd. increased its share estimate to reflect its earnings growth prospects. The share estimate was raised to 4.96 ringgit from 4.66 ringgit, CIMB said in a report today.

Yeo Hiap Seng (Malaysia) Bhd. (YHSM) , a Malaysian beverage maker, advanced 4.4 percent to 1.44 ringgit, bound for its largest increase since Sept. 14, after the company posted a profit of 5.62 million ringgit in the first quarter compared with a loss a year earlier.

To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur at thchan@bloomberg.net

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net


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