PETALING JAYA: Sarawak-based Zecon Bhd
has withdrawn its proposal to carry out a selective capital repayment (SCR) exercise that would have paved the way for its privatisation.
Zecon told Bursa Malaysia yesterday that they could not get the approval of the non-interested shareholders for the proposed SCR under Practice Note 44 of the Malaysian Code on Take-Overs and Mergers, 2010.
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