Quick take: Hubline shares up 9% on aviation industry venture

TheStar Thu, May 16, 2019 10:20am - 4 years View Original


KUALA LUMPUR: Shares in Hubline Bhd gained 9% in early trade Thursday following its venture into aviation industry.


The Sarawak-based shipping company rose 9.09%, or 0.5 sen to six sen with 17.4 million shares done.


Hubline is venturing into the aviation industry with the completion of its purchase of a 51% stake in Layang Layang Aerospace Sdn Bhd.


Hubline said the exercise involved the acquisition of 510,000 ordinary shares representing 51% equity interest in Layang Layang for a total purchase consideration of RM 14.198mil.

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