Malaysia’s Kuala Lumpur Composite Index fell 1.51, or 0.1 per cent, to close at 1,051.63, the first drop in three days. Forty-four stocks declined and 40 rose on the 102-member measure. May index futures slid 0.7 per cent to 1,043.50.
In the market, 1.6 billion shares changed hands, higher than the three-month daily average of 1.2 billion shares.
Alam Maritim Resources Bhd, an offshore oil and gas services company, jumped 14 per cent to RM1.39, the steepest gain since Jan. 5. The company said first-quarter profit more than doubled to RM26.7 million (US$7.7 million) from RM11.2 million a year earlier. Sales gained to RM71.3 million from RM55.1 million, it said in a statement.
Equine Capital Bhd slid 3.3 per cent to 59.5 sen, the most since May 21. The Malaysian property developer said fiscal fourth-quarter loss narrowed to RM16.9 million from RM25.1 million a year earlier. Sales dropped to RM12.1 million from RM40 million, the company said in a statement.
MMC Corp, Malaysia’s biggest port operator and independent power producer, surged 5.4 per cent to RM1.95t, the largest increase since May 4. It’s the third-best performer on the stock index. MMC, which owns water-treatment plants and the two biggest ports in Johor, will benefit from the Iskandar Malaysia project, a special development zone in the southern state, Annuar Aziz, an analyst at Credit Suisse Group AG, wrote in a report today.
SapuraCrest Petroleum Bhd climbed 5 per cent to RM1.47, the steepest advance since May 19. The oil and gas services provider said it won a US$60 million contract from Nippon Steel Engineering Co for the decommissioning works of offshore installations.
Sime Darby Bhd. (SIME MK) slid 1.4 per cent to RM6.85, the most since May 8.
Malaysia’s biggest palm-oil producer said profit fell 85 per cent to RM165.7 million in the fiscal third quarter ended March 31 from a year earlier, as the price of the commodity dropped. Revenue declined 14 per cent to RM7.47 billion, Sime said in a statement. It reiterated that earnings will fall this fiscal year.
UEM Land Holdings Bhd dropped 1.2 per cent to RM1.62t, the largest decline in a week. The property developer said first-quarter profit dropped 96 per cent to RM2.6 million from a year earlier. Sales slid 70 per cent to RM56.5 million, the company said in a statement. - Bloomberg
In the market, 1.6 billion shares changed hands, higher than the three-month daily average of 1.2 billion shares.
Alam Maritim Resources Bhd, an offshore oil and gas services company, jumped 14 per cent to RM1.39, the steepest gain since Jan. 5. The company said first-quarter profit more than doubled to RM26.7 million (US$7.7 million) from RM11.2 million a year earlier. Sales gained to RM71.3 million from RM55.1 million, it said in a statement.
Equine Capital Bhd slid 3.3 per cent to 59.5 sen, the most since May 21. The Malaysian property developer said fiscal fourth-quarter loss narrowed to RM16.9 million from RM25.1 million a year earlier. Sales dropped to RM12.1 million from RM40 million, the company said in a statement.
MMC Corp, Malaysia’s biggest port operator and independent power producer, surged 5.4 per cent to RM1.95t, the largest increase since May 4. It’s the third-best performer on the stock index. MMC, which owns water-treatment plants and the two biggest ports in Johor, will benefit from the Iskandar Malaysia project, a special development zone in the southern state, Annuar Aziz, an analyst at Credit Suisse Group AG, wrote in a report today.
SapuraCrest Petroleum Bhd climbed 5 per cent to RM1.47, the steepest advance since May 19. The oil and gas services provider said it won a US$60 million contract from Nippon Steel Engineering Co for the decommissioning works of offshore installations.
Sime Darby Bhd. (SIME MK) slid 1.4 per cent to RM6.85, the most since May 8.
Malaysia’s biggest palm-oil producer said profit fell 85 per cent to RM165.7 million in the fiscal third quarter ended March 31 from a year earlier, as the price of the commodity dropped. Revenue declined 14 per cent to RM7.47 billion, Sime said in a statement. It reiterated that earnings will fall this fiscal year.
UEM Land Holdings Bhd dropped 1.2 per cent to RM1.62t, the largest decline in a week. The property developer said first-quarter profit dropped 96 per cent to RM2.6 million from a year earlier. Sales slid 70 per cent to RM56.5 million, the company said in a statement. - Bloomberg
Comments