Bloomberg News

Malaysia Stocks: Hirotako, Malaysia Airports, MHC, TAS Offshore

October 28, 2011

Oct. 28 (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.

The FTSE Bursa Malaysia KLCI Index rose 0.7 percent to 1,481.82, its highest close since Aug. 23. The gauge advanced 3 percent this week.

Hirotako Holdings Bhd. (HIRO MK), a manufacturer of safety belts and air-bags for vehicles, jumped 7.4 percent to 94.5 sen, a record. MBM Resources Bhd. (MBM MK) made a buyout offer for the company at 97 sen a share. MBM rose 0.3 percent to 3.11 ringgit.

Malaysia Airports Holdings Bhd. (MAHB MK) surged 7.5 percent to 6.32 ringgit, the most since Jan. 14, 2010. The company got approval from the Ministry of Transport to increase international passenger service fees and aircraft landing and parking charges.

MHC Plantations Bhd. (MHC MK), an oil-palm and rubber planter, sank 0.8 percent to 1.24 ringgit, the largest loss since Oct. 14. Third-quarter profit dropped 33 percent from a year earlier to 8.5 million ringgit ($2.77 million), according to a stock-exchange filing.

TAS Offshore Bhd. (TOB MK), a shipbuilder, added 2.7 percent to 37.5 sen. TAS said net income for the quarter ended Aug. 31 rose 17 percent from a year earlier to 1.28 million ringgit, according to a company statement.

--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: Darren Boey at dboey@bloomberg.net


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