The termination of a memorandum of understanding (MoU) by Berjaya Corp Bhd (BCorp) to take over Singer (M) Sdn Bhd has raised questions about the viability of a slew of other similar agreements recently announced by listed companies.
BCorp, in less than two months of announcing the deal to purchase Singer at a price of more than half a billion ringgit, has called it quits, citing a challenging economic environment due to the coronavirus (Covid-19) pandemic.
BCorp first announced the MoU on June 2, which was in the midst of the Covid-19 pandemic itself.
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