Malaysia Equity Preview - May 31,2010

May 31 (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 1.6 percent to
1,269.16 on May 27. The market was closed on May 28 for a public holiday.

Axiata Group Bhd. (AXIATA MK): The mobile-phone operator said first-quarter profit surged more than 14-fold from a year earlier to 921.5 million ringgit ($280 million), bolstered by income from its overseas units and the sale of shares in an Indonesian subsidiary. Axiata climbed 0.5 percent to 3.69 ringgit.

Genting Bhd. (GENT MK): Asia’s second-biggest publicly traded casino operator said first-quarter profit rose 9 percent to 232.4 million ringgit, helped by revenue from its new gambling resort in Singapore. Genting added 2.6 percent to 6.73 ringgit.

Sime Darby Bhd. (SIME MK): The world’s biggest listed palm oil producer posted its first quarterly loss in more than a decade after cost overruns prompted the company to remove its chief executive officer. The third-quarter net loss was 308.6 million ringgit, compared with a profit of 150.6 million ringgit a year earlier, the company said in a statement. Sime gained 3 percent to 7.83 ringgit.

YTL Corp. (YTL MK): Malaysia’s biggest builder said profit in the third quarter dropped 32 percent from a year earlier to
330.6 million ringgit because of increased taxes. YTL added 2.5 percent to 7.12 ringgit.