KL shares close higher

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 5 p.m. local-time close in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index rose 9.2 points, or 0.6 per cent, to 1,558.01, snapping a three-day decline.

AirAsia Bhd, Asia’s biggest budget carrier, rose 1.5 per cent to RM3.99, a record close, after UOB-Kay Hian Holdings Ltd raised its share estimate to RM4.60 from RM3.70. The stock was maintained at “buy,” UOB-Kay Hian wrote in a report today.

Ecofirst Consolidated Bhd, an oil-palm planter and timber group, advanced 3.3 per cent to 15.5 sen, the biggest increase since July 22. Ecofirst had a profit of RM4.2 million in the fourth quarter ended May 31, compared with a net loss of RM21.9 million a year earlier, according to a company statement.

Malaysian Airline System Bhd, the national carrier, advanced 2.7 per cent to RM1.52, the highest since July 7. The airline named Md. Nor Yusof as chairman after Mohamed Munir Abdul Majid quit the company, it said in a statement. Md. Nor is chairman of CIMB Group Holdings Bhd.

Perwaja Holdings Bhd, a steelmaker, jumped 12 per cent to RM1.14, the most since May 8, 2009. OSK Research Sdn Bhd upgraded the stock to “buy” from “trading buy” after state news agency Bernama reported that the company is close to securing an iron-ore mining permit in Terengganu state. -- Bloomberg