Malaysia Equity Preview - June 1,2010

June 1 (Bloomberg) -- 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 1.3 percent to 1,285.01.

AirAsia Bhd. (AIRA MK): Southeast Asia’s largest budget carrier reported a 10 percent increase in first-quarter profit after flying more passengers and added routes. Net income totaled 224.1 million ringgit ($69 million) in the three months ended March, compared with 203.2 million ringgit the year before, it said in a statement. AirAsia gained 4.3 percent to 1.22 ringgit.

Affin Holdings Bhd. (AHB MK): The banking group part-owned by Hong Kong’s Bank of East Asia Ltd. said it submitted an application to Malaysia’s central bank to commence takeover talks with EON Capital Bhd. (EON MK) and its major shareholders.
Affin added 0.7 percent to 2.90 ringgit. EON gained 2 percent to
7.01 ringgit.

Alliance Financial Group Bhd. (AFG MK): The banking group said fourth-quarter net income surged to 77.3 million ringgit from 897,000 ringgit a year earlier, after net interest income rose and provisions for bad debts declined. Alliance gained 1.1 percent to 2.78 ringgit.

Maxis Bhd. (MAXIS MK): Malaysia’s biggest mobile-phone operator posted a profit of 552 million ringgit in the first quarter compared with a loss of 42 million ringgit a year earlier after adding more customers to its wireless broadband services. Maxis slid 0.4 percent to 5.22 ringgit.

RHB Capital Bhd. (RHBC MK): Malaysia’s fourth-largest banking group said first-quarter net income rose 53 percent from a year earlier to 349.7 million ringgit, after net interest income increased and bad debt provisions dropped. RHB Capital added 0.2 percent to 5.75 ringgit.

Sealink International Bhd. (SELI MK): The Malaysian builder and operator of offshore marine vessels said it agreed to hire advisors to conduct a feasibility study on its plan to list a shipbuilding division. The company is considering “several locations” for the listing, it said in a statement. Sealink added 2.3 percent to 66 sen.

Ta Ann Holdings Bhd. (TAH MK): The Malaysian timber producer said it plans to give shareholders one new share for every five held as part of a bonus issue. Ta Ann advanced 2.2 percent to 5.08 ringgit.