Bloomberg News

Malaysian Stocks: Ann Joo, Coastal, MISC, MNRB, Muhibbah, UEM

November 27, 2011

Nov. 25 (Bloomberg) -- Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of 12:30 p.m. trading break in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index fell 0.9 percent to 1,434.80. The gauge has dropped 1.4 percent this week, its fourth weekly decline. The market will be shut on Nov. 28 for a public holiday.

Ann Joo Resources Bhd. (AJR MK), a steelmaker, declined 2.5 percent to 1.93 ringgit, set for its lowest level since Oct. 4. The company had a third-quarter net loss of 24.5 million ringgit ($7.7 million), compared with a profit of 10.4 million ringgit a year earlier.

Coastal Contracts Bhd. (COCO MK), a shipbuilder, slid 2.1 percent to 1.88 ringgit, the steepest retreat since Nov. 18. Third-quarter profit dropped to 36.7 million ringgit from 53.6 million ringgit a year earlier.

Genting Bhd. (GENT MK), a casino, power and plantation group, dropped 2 percent to 10.08 ringgit, headed for its lowest close since Oct. 25. Third-quarter net income fell 22 percent from a year earlier to 597.2 million ringgit.

MISC Bhd. (MISC MK), the world’s largest owner-operator of liquefied natural gas tankers, sank 2.1 percent to 6 ringgit, set for its lowest close since Oct. 12. MISC said it will stop operating container vessels after the unit lost $789 million in three years. The move will result in a one-off $400 million charge this year, MISC said in a statement.

MNRB Holdings Bhd. (MNRB MK), a reinsurance company, dropped 6.3 percent to 2.68 ringgit, bound for its steepest slump since April 5. MNRB had a second-quarter net loss of 5.9 million ringgit, compared with a profit of 21.3 million ringgit a year earlier.

Muhibbah Engineering (M) Bhd. (MUHI MK), a builder, added 1.9 percent to 1.09 ringgit. Third-quarter net income doubled to 16.8 million ringgit from a year earlier.

Tiong Nam Logistics Holdings Bhd. (TNL MK), a transport and warehousing company, declined 3.1 percent to 95 sen, headed for its lowest close since Oct. 19. The company had a loss of 4.9 million ringgit in the second quarter, compared with a profit of 2.7 million ringgit a year earlier.

UEM Land Holdings Bhd. (ULHB MK), a property developer, climbed 1 percent to 2.11 ringgit, headed for its biggest increase since Nov. 15. Third-quarter net income more than tripled from a year earlier to 54.6 million ringgit.

--Editor: Shiyin Chen

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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