KL stocks to watch out for today

 

THE following companies may have unusual price changes in Malaysia trading. Stock symbols are in parentheses, and share prices are from the most recent close.

Malaysia’s FTSE Bursa Malaysia KLCI Index rose 0.3 per cent to 1,263.94, the highest in a week. The stock market was closed on Dec. 25 for the Christmas holiday.

DRB-Hicom Bhd: The car assembler said it completed the acquisition of Benua Kurnia Sdn. and Neraca Prisma Sdn. on Dec. 24, making the two companies wholly-owned units of DRB-Hicom. The stock added 0.5 per cent to 99 sen.

Mah Sing Group Bhd: The property developer said its unit Star Residence Sdn. signed an agreement on Dec. 24 to sell a 20-floor office building to T.S. Law Realty Sdn. for RM226.5 million in cash. The stock fell 0.6 per cent to RM1.81.

MISC Bhd: The world’s biggest owner of liquefied natural gas tankers said the stock exchange of Malaysia has approved a plan to combine its local and foreign shares. The merger of the shares will have to be approved by the company’s shareholders, it said. The stock was unchanged at RM8.60.

SapuraCrest Petroleum Bhd: The oil and gas services provider said its unit TL Offshore Sdn. won a contract to transport and install offshore oil and gas facilities for 11 production sharing contractors of Petroliam Nasional Bhd. The value of the project for 2010 is approximately RM1.5 billion. The contract covers three years starting in 2010, the company said. The stock fell 0.9 per cent to RM2.30.

Store Corp: The department store operator said its unit Pacific Hypermarket & Departmental Store Sdn. extended a plan to acquire retail spaces from LKD Management Sdn. by six months from Dec. 26. The stock was last traded on Dec. 23, up 1.2 per cent at RM2.62. - Bloomberg