Bloomberg News

Malaysia Stock Movers: AirAsia, Sanichi, TSM, UOA, YTL Power

October 13, 2011

Oct. 13 (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 16.37 points, or 1.2 percent, to 1,444.87, its highest since Sept. 13.

AirAsia Bhd. (AIRA MK), Asia’s biggest budget carrier, climbed 3.4 percent to 3.36 ringgit, its highest close since Sept. 14. Investors should buy the shares because of “attractive” valuations, Credit Suisse Group AG said in a report today.

Sanichi Technology Bhd. (SANI MK), a precision moulds and tooling company, gained 11 percent to 5 sen, the most since Sept. 29. Sanichi plans to sell a 10 percent stake in a private placement, it said in a statement.

TSM Global Bhd. (TSM MK), an automotive parts manufacturer, dropped 4.4 percent to 1.09 ringgit, its largest decline since Sept. 26. TSM will make a 32.2 million ringgit ($10 million) provision when its subsidiary Kenseisha Sdn. goes into liquidation, it said in a statement.

UOA Development Bhd. (UOAD MK) surged 17 percent to 1.50 ringgit, its steepest gain since its June 8 listing debut, after Affin Investment Bank Bhd. said investors should buy shares of the property group because “value has emerged” following a recent slide. UOA is down 42 percent from the issue price of 2.60 ringgit paid by institutional investors for its initial share sale.

YTL Power International Bhd. (YTLP MK) climbed 4.1 percent to 1.76 ringgit, the most since Aug. 11, after the stock was upgraded to “buy” from “hold” at Maybank Investment Bank Bhd., which cited its “attractive” valuation.

--Editor: Richard Frost

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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