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 0.5 per cent to 1,546.84, its highest close since May 15.

Malayan
United Industries Bhd, a retailer and property developer, gained 4.9
per cent to 21.5 sen, its largest increase since Dec. 2. Japan’s Tokio
Marine Holdings Inc will buy the general insurance assets and
liabilities of Malayan United’s 52 per cent-owned MUI Continental
Insurance Bhd for RM180 million, Tokio Marine said in a statement.

Multi
Sports Holdings Ltd, a China-based maker of shoe soles, rose 1.3 per
cent to 38 sen. First-quarter net income grew 39 per cent from a year
earlier to RM16.6 million, the company said in a stock-exchange filing.





OSK Ventures International Bhd, an investment group, jumped 6.4 per cent
to 41.5 sen, its steepest increase since March 2. The company reported
first-quarter net income of RM29.6 million, compared with a loss of
RM18.5 million a year earlier, it said in a filing.

Petronas
Dagangan Bhd, the retailing arm of Malaysia’s state-run oil company,
climbed 2.6 per cent to RM19.98, a record close. The company declared a
dividend of 17.5 sen a share after reporting first-quarter profit of
RM246.2 million, according to an exchange filing.

Scomi Marine
Bhd, a marine transport company, added 2.4 per cent to 42 sen, its
steepest increase since May 7. First-quarter profit surged to RM16.4
million from RM5.9 million a year earlier, the company said in a filing.

UAC
Bhd, a maker of cement products and polyethylene pipes, jumped 30 per
cent to RM3.66, a record gain. Boustead Holdings Bhd, which owns 65 per
cent of UAC, offered to buy out the company through a capital reduction
and repayment exercise, where UAC minority stockholders would get RM4.30
a share including a dividend payment, according to an exchange filing.
Boustead fell 0.2 per cent to RM4.98.

Xingquan International
Sports Holdings Ltd, a China-based maker of sports shoes, gained 2.8 per
cent to 91.5 sen, its highest close since May 4. The company received
orders totaling 826 million yuan (US$131 million) from a sales fair in
Fujian province, China, it said in a statement. -- Bloomberg