Mah Sing shares flat on land deal termination

PETALING JAYA: Shares of Mah Sing Group Bhd was flat at RM1.57 this morning, after it has terminated the proposed acquisition of 3.56 acres of freehold land in Kuala Lumpur.
As at 11.26am, the stock stood at RM1.57 with 226,100 shares changing hands. It has a market capitalisation of RM231.4 million.
Mah Sing said the deal termination was due to non-fulfillment of the conditions precedent within the stipulated period.
Recall that its unit Mah Sing Properties had entered into the sale and purchase agreement (SPA) with Saw Shiuo Shyong @ Sonny Saw for the proposed acquisition of five pieces of adjoining land in Kuala Lumpur for RM60 million.