Bloomberg News

Malaysian Stock Movers: Bintai Kinden, Pasdec, Sumatec Resources

May 31, 2012

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of 9:27 a.m. in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index (FBMKLCI) fell 0.4 percent to 1,574.80, headed for its first decline in seven days. The gauge has risen 1.5 percent this week, poised for a second straight weekly gain.

Bintai Kinden Corp. (BKC) advanced 8.8 percent to 37 sen, bound for its steepest increase since March 29. The builder’s fourth-quarter net income jumped to 9.5 million ringgit ($3 million) from 46,000 ringgit a year earlier, it said in a stock-exchange filing.

Pasdec Holdings Bhd. (PSD) surged 18 percent to 33.5 sen, on course for its largest gain since Oct. 13. The property developer reported first-quarter profit of 9.5 million ringgit compared with a loss of 838,000 ringgit a year earlier, it said in a statement. The stock resumed trading today after Pasdec submitted outstanding audited financial statements.

Sumatec Resources Bhd. (SMTC) , an engineering group, slid 5 percent to 19 sen, the most since May 24. First-quarter net loss widened to 18.3 million ringgit from 1.1 million ringgit a year earlier, it said in an exchange filing.

To contact the reporter on this story: Gan Yen Kuan in Kuala Lumpur at ykgan@bloomberg.net

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


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