ENGTEX SCRAPS PLAN FOR PRI­VATE PLACE­MENT

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: Engtex Group Bhd has aborted its plan to un­der­take a pri­vate place­ment ex­er­cise cit­ing mar­ket en­vi­ron­ment. In a fil­ing with the stock ex­change last Fri­day, the water pipe man­u­fac­turer said it had de­cided not to pro­ceed with the fundrais­ing ex­er­cise af­ter as­sess­ing the cur­rent mar­ket con­di­tions. Ac­cord­ingly, the ap­proval granted by Bursa Malaysia in April for the pro­posed pri­vate place­ment lapsed on Oct 14. The pri­vate place­ment was sup­posed to raise up to RM53.46 mil­lion. agree­ment with Datuk Is­mail Has­san for the ac­qui­si­tion. Avi­a­tion AI is in­volved in the pro­vi­sion of pri­vate char­ter air trans­port ser­vices. It owns a Gulf­stream G-1159A air­craft.

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