KUALA LUMPUR (Jan 16): Based on corporate announcements and news flow today, companies that may be in focus on Tuesday (Jan 17) could include: AirAsia X, FGV, Maybank, Tex Cycle, HIL Industries and Mudajaya Group. Tex Cycle Technology (M) Bhd had on July 28, 2016, via its solicitors, issued a statement of claim against FACT System (Malaysia) Sdn Bhd. Kwee Leng and Kwee Seng will sell 49% and 50% of their stake in A&M Concrete respectively to HIL Industries. Boon Tong, Kwee Leong and Kwee Seng are the directors and major shareholders of HIL Industries while Kwee Leng is also a major shareholder of HIL Industries. The announcement filed with Bursa said that the proposed acquisition fits into the group’s business strategy to expand its property division and to reduce reliance on the manufacturing segment.

Source: The Edge Markets January 16, 2017 13:02 UTC