Bloomberg News

Malaysian Stocks: Aliran Ihsan, Coastal Contracts, Iris, MMC

July 10, 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. trading break in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index (FBMKLCI) rose 0.1 percent to 1,622.42, headed for a record close.

Coastal Contracts Bhd. (COCO MK) climbed 2 percent to 2.03 ringgit, bound for its highest close since May 11. The shipbuilder won orders for 12 vessels valued at 446 million ringgit ($140 million) in total, it said in an exchange filing.

Iris Corp. (ICB) , a technology-consulting company, advanced 3.1 percent to 16.5 sen. The company agreed to buy 51 percent of Oil Field Services Ltd. for an indicative price of $3.5 million, Iris said in a statement. Dubai-based Oil Field Services has an agreement with the Iraqi government to generate electricity in Basrah, Iraq, Iris said.

MMC Corp. (MMC) , a construction, power and ports group, gained 1.5 percent to 2.65 ringgit, poised for its highest close since June 27. The company offered to take 63 percent-owned water treatment unit Aliran Ihsan Resources Bhd. (AIRB) private through a capital repayment exercise at 1.84 ringgit per share, according to stock-exchange filings. Aliran Ihsan dropped 1.1 percent 1.73 ringgit.

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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