Bloomberg News

Malaysia Stocks: Affin, CIMB, Concrete Engineering, Jerneh, RHB

November 01, 2011

Nov. 1 (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 fell 1.1 percent to 1,475.64, snapping a five-day, 3.7 percent gain. The gauge rallied 7.6 percent in October, the most since July 2009.

Banks: CIMB Group Holdings Bhd. (CIMB MK) slid 1.1 percent to 7.49 ringgit, the most since Oct. 18. RHB Capital Bhd. (RHBC MK) sank 3.1 percent to 7.46 ringgit. Affin Holdings Bhd. (AHB MK) lost 2.7 percent to 2.87 ringgit.

Lending growth in Malaysia may peak soon, after loan applications and approvals fell in September from a month earlier, ECM Libra Capital Sdn. said in a report today.

Concrete Engineering Products Bhd. (CEP MK), a building materials supplier, dropped 5.3 percent to 1.80 ringgit, the largest decline since Oct. 7. The company had a loss of 4.72 million ringgit ($1.5 million) in its fiscal fourth quarter compared with a profit of 8.48 million ringgit a year earlier, it said in a statement.

Jerneh Asia Bhd. (JER MK) rose 4.4 percent to 1.42 ringgit, its biggest increase since April 21. Kuok Brothers Sdn. made a buyout offer at 1.45 ringgit a share.

--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: Darren Boey at dboey@bloomberg.net


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