Suiwah’s founder proposes a capital repayment and plans to delist the company

In its filings with Bursa Malaysia, Yong Tai said its wholly-owned subsidiary YTB Impression Sdn Bhd terminated the deal due to non-fulfilment of the condition precedent as stated in clause 3.1(c) of the joint development agreement. Yong Tai fell half a sen to close at 32.5 sen yesterday.

KUALA LUMPUR: Retail firm Suiwah Corp Bhd said its founder and managing director Datuk Hwang Thean Long has proposed to delist the company by way of selective capital reduction and repayment (SCR).

Hwang and his family owns a 30,9% stake in Suiwah.