Kretam hits limit down after deal falls through

Without the Kretam deal, Voon expects Hap Seng Plantation

PETALING JAYA: The scrapping of the proposed RM1.18bil controlling block acquisition of Kretam Holdings Bhd by Hap Seng Plantations Holdings Bhd saw Kretam’s share price hit limit down early Monday morning, touching a low of 39.5 sen.

On Thursday, June 14, Hap Seng told Bursa that it had notified the vendors of Kretam in writing that the results of the due diligence of the Kretam Group were unsatisfactory and unacceptable.