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=MALAYSIA PRESS: News Headlines On Friday, October 13

KUALA LUMPUR (Oct 13) -- Here’s a roundup of local news:

*Airbus Ramps Up Services Business With Malaysian Deal

Airbus on Thursday said it had taken full control of an Asian plane-repair company, as it and rival Boeing Co. both embark on a push to win a greater share of the lucrative market for servicing airliners. Airbus said had acquired all of Malaysia’s Sepang Aircraft Engineering company after it purchased a 40% stake in 2011. The value of the deal wasn’t disclosed. - The Wall Street Journal

*Felda puts London property for sale as part of asset restructuring

The Federal Land Development Authority is putting the Grand Plaza Serviced Apartments in London for sale as part of its initiatives to reorganize and restructure its assets in order to strengthen its financial position. Its chairman, Tan Sri Shahrir Abdul Samad, said the decision was made following Felda’s decision to dispose of assets that were not related to its core operations. - The Star

*Bursa Securities fines remisier for manipulating in Lay Hong shares

Bursa Malaysia Securities has publicly reprimanded and imposed a fine of RM20,000 on a remisier Wong Min Jun for manipulating in the securities of poultry company Lay Hong. The regulator said on Thursday it had also suspended/restricted Wong for three months. He was also was required to undergo training on conduct or professionalism of dealer’s representatives/market offences. - The Star

*Ho Hup Construction calls off RM136m rights issue

Ho Hup Construction has called off a RM136 million cash call after the extension of time to implement the corporate exercise lapsed, adding that it will explore alternative options to fund its construction and property development projects. Ho Hup said Bursa Securities’ approval on the extension of time to implement the corporate exercises has lapsed. - The Edge Markets

*Atlan reports marginal rise in 2Q net profit

Atlan Holdings' net profit for the second quarter ended Aug 31, 2017 grew marginally by 0.6% to RM9.64 million from RM9.59 million a year ago. Revenue eased 0.1% to RM199.36 million from RM199.63 million, the group said in a filing with Bursa Malaysia. - The Edge Markets

*New substantial shareholders for Permaju Industries?

Something is brewing at automotive and property development group Permaju Industries. Two investors, Wong Thean Soon and Brahmal Vasudevan, are believed to have bought shares in the Volkswagen and Ford dealers. They could have bought the shares through Credit Suisse Group AG, which bought a total of 9.7 million shares in the open market on September 21, to raise their stake to 5.17 per cent. - New Straits Times

- By Kuala Lumpur Newsroom;; +60320267363
- Edited by Glen Nicol Perkinson
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