Khoo Kay Peng-controlled firms buck trend to record hefty gains

Kuala Lumpur

ASSET monetisation to pay off a divorce settlement or the latest rotational play?

These were the questions being asked after companies controlled by tycoon Khoo Kay Peng saw brisk trade on Tuesday, one theory being a corporate exercise might be in the offing after a UK court last week ordered him to settle divorce proceedings by paying his former wife Pauline Chai £64 million (S$111.5 million) made up of cash and property.

Mui Industries - his flagship company which controls UK-listed Laura Ashley as well as Pan Malaysia Holdings Bhd which indirectly owns securities…