PETALING JAYA: The Securities Commission has rejected the proposed listing of Berjaya Corp Bhd (BCorp)’s 80%-owned subsidiary Bermaz Motor Sdn Bhd (via Berjaya Auto Bhd) on the Main Market of Bursa Malaysia.
BCorp told Bursa Malaysia in a statement that the rejection was due to a deficit in net operating cashflows of Bermaz Motor. “BCorp’s board of directors will deliberate on the next course of action, including but not limited to the restructuring of the proposed Berjaya Auto Group.”
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