PETALING JAYA: 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 (Malaysia) 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.
