Kurnia Asia Bhd, a Malaysian insurer, rose to a one-month high after the Business Times reported that the company aims to increase its gross premium collection by 10 per cent to RM1.1 billion this year.

The stock climbed 3 per cent to 51.5 sen at 10:10 am local time in Kuala Lumpur trading, set for its highest close since May 18.

Meanwhile, another daily reported that Kurnia Asia has applied for a licence to conduct Islamic insurance, or takaful, from Malaysia's central bank. The paper cited group chief financial officer Looi Kok Leng.

The application was submitted last year and Kurnia is still awaiting a response, it said. -- Bloomberg