ENGTEX SCRAPS PLAN FOR PRIVATE PLACEMENT

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.