Berjaya Corp Bhd has mutually terminated the memorandum of understanding it entered into with Berjaya Retail Sdn Bhd on June 2 to acquire 100% of Singer Sdn Bhd for RM536 million.
In a Bursa filing, the group said it was due to business challenges and uncertainty in the recovery of the economy after the Covid-19 outbreak. “The termination will not have any material effect on the issued share capital, substantial shareholders’ shareholdings, earnings, net assets and gearing of the group,” it said.
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