Malaysia Stocks

May 26 (Bloomberg) -- Malaysia’s FTSE Bursa Malaysia KLCI Index fell for a ninth day, sliding 1.19, or 0.1 percent, to close at 1,248.94, the longest losing streak since March 20, 2001.

IGB Corp. (IGB MK) and KLCC Property Holdings Bhd. (KLCC MK) slid ahead of their removal from the MSCI Malaysia Index as of the close of today. Shares of IGB, a property developer, fell
6.1 percent to 1.54 ringgit, the most since Oct. 26. KLCC lost
3.9 percent to 2.75 ringgit, its lowest since Dec. 30, 2008.

DRB-Hicom Bhd. (DRB MK), a builder and auto assembler, gained 1.6 percent to 98.5 sen, its largest increase since May 10. The company said it had a profit of 259.4 million ringgit
($77 million) in the fourth quarter ended March 31 compared with a loss of 60.7 million ringgit a year earlier.

Lion Corp. (LION MK), a steel producer and builder, advanced 5.7 percent to 28 sen, the most since April 9. The company said it swung to a profit of 18.5 million ringgit in the third quarter ended March 31 from a loss of 479.9 million ringgit a year earlier after sales advanced.

MMC Corp. (MMC MK), a ports, power and construction group, added 2.2 percent to 2.28 ringgit, its biggest gain since May 13.
The company said first-quarter net income rose 9.9 percent from a year earlier to 34.4 million ringgit, helped by higher contributions from transport and logistics, as well as energy and utilities.

MISC Bhd. (MISC MK), the world’s biggest owner of liquefied natural gas tankers, slid 3.4 percent to 8.13 ringgit, its steepest drop since Feb. 24. An oil tanker owned by MISC’s AET Tanker Holdings Sdn. that spilled 2,500 metric tons of crude into the Singapore Strait yesterday following a collision with a bulk carrier, is being unloaded as efforts to clean up a slick resumed. “The incident caused significant damage to the vessel’s hull,” AET said in a statement.