June 4 (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 1.4 percent to 1,294.44.
Axis Real Estate Investment Trust (AXRB MK): The Islamic office and industrial REIT said it agreed to buy two industrial properties in the states of Selangor for 134 million ringgit
($41 million). The company also may raise about 130.1 million ringgit from a private share placement to repay debt, it said in a statement. The stock fell 1 percent to 2 ringgit.
Boustead Heavy Industries Corp. (BHIC MK): The Malaysian shipbuilding and engineering company said it agreed to form a joint venture with two companies including Eurocopter Malaysia Sdn. to maintain, repair and overhaul rotary and fixed wing aircrafts. Boustead climbed 2.5 percent to 3.69 ringgit on June 2.
Kenmark Industrial Bhd. (KIC MK): The furniture maker said businessman Ishak Ismail has bought a 32 percent stake in the company and it’s in talks with receivers to resume business operations at its paper unit. Kenmark also appointed a special auditor to undertake an investigation into the financials of the company to identify any potential irregularities, it said in a statement. Kenmark gained 92 percent to 11.5 sen on June 2 before its shares were suspended.
Mega First Corp. (MFCB MK): The Malaysian heavy equipment manufacturer, said it signed a preliminary agreement with Electricite Du Laos to develop a hydropower project in Laos.
Mega First added 1.3 percent to 1.61 ringgit.
SP Setia Bhd. (SPSB MK): The Employees Provident Fund, Malaysia’s largest pension fund, disclosed net purchases of 1.2 million shares in the nation’s biggest property developer, a stock exchange filing showed. The purchases increased the fund’s stake to 15.8 percent. SP Setia rose 1.8 percent to 3.98 ringgit.
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