PETALING JAYA: Kulim (M) Bhd’s bid for an extra 20% in its Papua New Guinea-based unit New Britain Palm Oil Ltd (NBPOL) has crumbled after the company failed to undo a restraining order imposed by the regulators there.
The firm told Bursa Malaysia yesterday that the National Court of Papua New Guinea had on Sept 4 dismissed Kulim’s application to lift the Securities Commission of Papua New Guinea’s (SCPNG) orders.
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