KL shares close lower

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the close in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index fell 1.1 per cent to 1,431.55, its lowest since Oct. 12. The gauge dropped 1.6 per cent this week, its fourth weekly decline. The market will be shut on Nov. 28 for a public holiday.

Ann Joo Resources Bhd, a steelmaker, declined 4 per cent to RM1.90, its lowest level since Oct. 4. The company had a third-quarter net loss of RM24.5 million (US$7.7 million), compared with a profit of RM10.4 million a year earlier.

Coastal Contracts Bhd, a shipbuilder, slid 3.7 per cent to RM1.85, the steepest retreat since Nov. 1. Third-quarter profit dropped to RM36.7 million from RM53.6 million a year earlier.

Genting Bhd, a casino, power and plantation group, dropped 2.5 per cent to RM10.02, its lowest close since Oct. 25. Third-quarter net income fell 22 per cent from a year earlier to RM597.2 million.

MISC Bhd, the world’s largest owner-operator of liquefied natural gas tankers, sank 5.4 per cent to RM5.80, its lowest since Oct. 11. MISC said it will stop operating container vessels after the unit lost US$789 million in three years. The move will result in a one-off US$400 million charge this year, MISC said in a statement.

MNRB Holdings Bhd, a reinsurance company, dropped 7 per cent to RM2.66, the most since November 2008. MNRB had a second-quarter net loss of RM5.9 million, compared with a profit of RM21.3 million a year earlier.

Muhibbah Engineering (M) Bhd, a builder, added 1.9 per cent to RM1.09. Third-quarter net income doubled to RM16.8 million from a year earlier. -- Bloomberg