On Dec 5 last year, TH Plantations signed the SPA with Tamaco to dispose of its 100% stake in Bumi Suria Ventures Sdn Bhd and Maju Warisanmas Sdn Bhd.
KUALA LUMPUR: TH Plantations Bhd’s proposal to sell its two plantation companies to Tamaco Plantation Sdn Bhd for RM170mil has been scuttled after the Economic Planning Unit (EPU) withdrew its consent.
In an announcement to Bursa Malaysia, TH Plantations said it was informed by Tamaco that the EPU had withdrawn the approval in a letter dated Dec 4, one year after the sales and purchase agreement (SPA) was signed.
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