Kulim stopped from acquiring more NBPOL shares

PETALING JAYA: The Papua New Guinea (PNG) market regulator has ordered plantation company Kulim (M) Bhd from acquiring any more shares or from taking any steps to complete the acquisition of shares in New Britain Palm Oil Ltd (NBPOL).

RHB Investment Bank Bhd said in a Bursa Malaysia announcement on behalf of Kulim’s board that the PNG Securities Commission had also ordered Kulim to stop further publication of the company’s partial takeover bid or offer on any print media, electronic media, televisions or any form of media including the social media as well as exercising any right to vote attached to any shares the company already held in NBPOL.