Bloomberg News

Malaysian Stock Movers: Ho Wah Genting, Padini Holdings

March 12, 2012

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 12:30 p.m. local time break in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index (FBMKLCI) fell 0.7 percent to 1,568.34.

Ho Wah Genting Bhd. (HWG) , a manufacturer of wires and cables, rallied 1.2 percent to 43 sen, its first gain in three days. The company isn’t selling its tin-mining business for $75 million to Sino-Platinum Metals Co. Ltd., it said, denying a report in the Nanyang Siang Pau newspaper.

Padini Holdings Bhd. (PAD) , a garment maker and retailer, rose 3.3 percent to 1.57 ringgit, set for a record close. The stock’s share-price estimate was raised to 1.75 ringgit from 1.40 ringgit at HwangDBS Vickers Research Sdn., which said Padini’s store expansion will drive earnings growth.

To contact the reporter on this story: Ian Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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