Hindustan Aeronautics to expand footprint in Malaysia with its new office; stock zooms ~2%

18 Aug 2022 , 11:04 AM

In the presence of Secretary of Defence, Ajay Kumar, Hindustan Aeronautics Limited signed an MoU to establish an office in Kuala Lumpur (Malaysia).

Ravi K, GM, LCA, HAL, and Major Mod Husairi Bin Mat Zain of Forte Drus, HAL’s official representative in Malaysia, signed the MoU.

B. N. Reddy, India’s High Commissioner in Malaysia, Sanjay Jaju, Additional Secretary (Defense Production), and others were also in attendance.

The Malaysian office will assist HAL in accessing new business opportunities for Fighter Lead-in Trainer (FLIT) LCA and other Royal Malaysian Air Force (RMAF) requirements such as Su-30 MKM and Hawk upgrades. It will reaffirm India’s commitment to assisting the Malaysian Defence Forces and industry in developing a sustainable aerospace and defense landscape in Malaysia.

During October 2021, HAL submitted a proposal to Malaysia’s Ministry of Defence (MPEF) for the supply of 18 FLIT LCAs against a global tender issued by RMAF.

Malaysian authorities are expected to announce the tender’s final winner soon. HAL believes that LCA Tejas has a good chance of winning the bid because it meets all of the RMAF’s requirements.

Given the foregoing, HAL’s office in Kuala Lumpur will promote HAL’s product and service offerings not only in Malaysia but across South East Asia.

The office will also help to improve the serviceability of existing platforms operated by the RMAF and neighboring Air Forces in the region.

At around 11.08 AM, Hindustan Aeronautics was trading at Rs2,344.95 apiece, up by 2.36% from its previous closing of Rs2,290.90 on the BSE. The scrip opened at Rs2,290.90 and touched intraday high and low of Rs2,349.90 and Rs2,289.75 respectively.