BCorp cancels plan to take over Singer Malaysia

BCorp said it has entered into a termination agreement with Berjaya Retail Sdn Bhd (BRetail) and Tan Sri Vincent Tan (pic) to mutually terminate a memorandum of understanding (MoU).

PETALING JAYA: Berjaya Corp Bhd (BCorp) has cancelled its plan to take over home electronic appliances distributor Singer (M) Sdn Bhd, a deal that could have cost more than half a billion ringgit.

The plan to buy Singer Group was announced less than two months ago.