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 0.2 per cent to 1,598.86, its first gain in three days.

Hock Lok Siew Corp, a property developer, sank 5.3 per cent to close at 9 sen, a record low. The company’s Foremost Audio Sdn Bhd unit defaulted on loans granted by CIMB Bank Bhd and is considering selling property and investments, Hock Lok Siew said in a statement.

Mudajaya Group Bhd, a construction company, fell 0.7 per cent to RM2.67, the lowest since Jan 30. The stock was cut to neutral from buy at OSK Holdings Bhd, analyst Heng Siong Kong wrote in a report.

Wijaya Baru Global Bhd, a timber and property group, gained 2.1 per cent to 73.5 sen. The company is in preliminary talks with groups of investors to start logging and oil palm plantation businesses in Indonesia, it said in a statement in response to a report by the Business Times. -- Bloomberg