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 0.1 per cent to 1,582.28, its lowest close since March 20.

Plantation stocks: Genting Plantations Bhd fell 0.9 per cent to RM9.46, its lowest close since March 29. IOI Corp slid 0.8 per cent to RM5.31 and TH Plantations Bhd lost 1.1 per cent to RM2.81.

Palm-oil futures in Malaysia fell 0.2 per cent to RM3,467 a metric ton, headed for the lowest level since March 30.

Cypark Resources Bhd, an environmental and landscaping-services provider, added 1.6 per cent to RM1.92, its steepest increase since April 12. The stock was rated new outperform at CIMB with a price estimate of RM2.82. Cypark’s core earnings-per-share for its fiscal 2013 may rise 91 per cent as it increases renewable energy capacity by eightfold to 60 megawatts, Yeoh Yung-Juen, an analyst at CIMB, wrote in a report today.

Eastern and Oriental Bhd, a property developer, gained 1.4 per cent to RM1.44, its steepest increase since April 13. The company agreed to buy an office and retail building known as Princes House in London for 20.3 million pounds (US$33 million), it said in a statement.

Minetech Resources Bhd, a quarry operator, rose 3.3 per cent to 15.5 sen. The company plans to form a joint venture to manufacture asphalt and other concrete products, it said in a statement.

Top Glove Corp, a rubber-glove maker, advanced 3.8 per cent to RM4.60, its largest gain since Dec. 27. The stock was upgraded to buy from sell at Maybank Investment Bank Bhd with a higher price estimate of RM5.40 compared with RM4.20 previously. Profit estimates for Top Glove were increased to reflect higher sales and falling latex costs, Lee Yen Ling, an analyst at the brokerage, wrote in a report today. -- Bloomberg