Bloomberg News

Malaysia Stock Movers: Gadang Holdings, Hing Yiap Group, Zhulian

July 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. trading break in Kuala Lumpur. The FTSE Bursa Malaysia KLCI Index (FBMKLCI) fell 0.1 percent to 1,627.88, headed for its first decline in three days.

Gadang Holdings Bhd. (GADG) , a property and construction group, advanced 4.2 percent to 62 sen, poised for its highest close since Feb. 27. The company got an 863.4 million-ringgit ($271 million) contract from Mass Rapid Transit Corp. to build a viaduct guideway, it said in a statement.

Hing Yiap Group Bhd. (HYGB) , an apparel trader, surged 12 percent to 1.88 ringgit, headed for its highest close since April 21, 2011. The company agreed to buy six units of Asia Brands Corp. for 245 million ringgit in cash and new shares to strengthen its market share and widen its earnings base, Hing Yiap said in an exchange filing.

Zhulian Corp. (ZHCB) , a multi-level marketing company, gained 1.9 percent to 2.14 ringgit, poised for its highest close since June 21, 2010. Second-quarter net income grew 39 percent from a year earlier to 29.2 million ringgit, the company 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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