KUALA LUMPUR: TH Plantations Bhd
’s proposal to sell its two plantation companies to Tamaco Plantation Sdn Bhd for RM170mil has been scuttled after the Economic Planning Unit (EPU) withdrew its consent.
In an announcement to Bursa Malaysia on Thursday, TH Plantations said it was informed by Tamaco that the EPU had withdrawn the approval in a letter dated Dec 4, one year after the sales and purchase agreement (SPA) was signed.
It also said the conditions imposed in the EPU approval were being annulled.
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