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 1,588.06.

KKB Engineering Bhd, an engineering and construction group, dropped 1.2 per cent to RM1.63, its lowest close since Dec. 22. First-quarter net income slumped to RM7.7 million from RM19.7 million a year earlier, the company said in a stock-exchange filing.

Petrol One Resources Bhd, an oil and gas services provider, fell 1.8 per cent to 81.5 sen, its lowest close since April 27. The company scrapped proposals for a private placement and rights offer with warrants, Petrol One said in a statement. The company is forming a new plan, it said.

Petronas Gas Bhd, the gas distributing arm of Malaysia’s state energy company, advanced 1.8 per cent to RM17.28, a record close. The company reported first-quarter net income of RM333.5 million on revenue of RM914.8 million, it said in a statement. Petronas Gas, which adopted a new financial reporting timetable to match the calendar year, said completion of a regasification terminal in the Malacca state within the next 12 months will boost earnings. -- Bloomberg