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 close in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index rose 0.1 per cent to 1,585.44. The gauge has gained 3.6 per cent this quarter.

Bintai Kinden Corp advanced 10 per cent to 37.5 sen, its largest gain since Dec. 8. The builder’s joint-venture with Samsung C&T Corp won two contracts in Singapore totaling S$166.2 million (US$132 million), Bintai Kinden said in a stock-exchange filing.

Key West Global Telecommunications Bhd, a telecommunications products and services provider, slid 22 per cent to 20 sen, the most since Dec. 6, 2010. The company agreed to buy 75 per cent of oil and gas company PT Formasi Sumatera Energi for US$52.5 million. The acquisition will be made through a convertible bond subscription, to be paid by cash and the issuance of new Key West shares priced at 12 sen each, Key West said in a statement.

Nextnation Communication Bhd, a provider of cellular services, added 4.8 per cent to 11 sen, the most since March 21. The company plans to buy 5.9 acres of commercial land for RM18.5 million, which has a potential gross development value of as much as RM500 million, it said in a statement. Nextnation also proposed a bonus issue of warrants and private share placement to raise as much as RM15.5 million, it said.

United Malayan Land Bhd climbed 1.9 per cent to RM1.58, its highest close since March 1. The property developer is in talks with Iskandar Investment Bhd to acquire land for development in the southern state of Johor, United Malayan Land said in a statement. -- Bloomberg