Bloomberg News

Malaysia Stocks: AirAsia, KUB, Sime, Sunway, Top Glove, TSH

October 11, 2011

Oct. 11 (Bloomberg) -- 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.

Malaysia’s FTSE Bursa Malaysia KLCI Index rose 1.1 percent to 1,411.65, the highest level since Sept. 21.

AirAsia Bhd. (AIRA MK), Asia’s largest budget carrier, jumped 6.2 percent to 3.24 ringgit, the biggest gain since Aug. 15. The stock was raised to “buy” from “neutral” at UBS AG to reflect the company’s earnings prospects.

KUB Malaysia Bhd. (KUBM MK), a constructor, surged 12 percent to 61.5 sen, the steepest increase since March 21, after the company said it got a 268.8 million-ringgit ($86 million) building contract from Malaysia Airports Holdings Bhd. (MAHB MK).

Sime Darby Bhd. (SIME MK), a plantation, auto and property group, rose 1.2 percent to 8.50 ringgit after saying it’s not required to make a general offer for the rest of Eastern & Oriental Bhd. (EAST MK).

Sunway Bhd. (SWB MK), a construction and property company, climbed 3.5 percent to 2.06 ringgit, the highest close since Sept. 14, after it got a 308.9 million-ringgit contract to build the Pinewood Iskandar Malaysia studios in the southern state of Johor.

Top Glove Corp. (TOPG MK), the world’s biggest rubber-glove maker, dropped 1.9 percent to 4.07 ringgit after fiscal fourth- quarter net income fell 42 percent from a year earlier to 26.1 million ringgit.

TSH Resources Bhd. (TSH MK), an oil palm planter and distributor of cocoa beans, jumped 7.9 percent to 3.16 ringgit, its biggest increase since Dec. 14, after the company proposed a one-for-one bonus share issue.

United U-Li Corp. (UULI MK), a cable support systems maker, sank 9.2 percent to 74.5 sen, its lowest close since March 29, after scrapping a plan to sell three units to Legrand SA.

--Editor: Matthew Oakley

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: Shiyin Chen at schen37@bloomberg.net


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