27 April 2012

Mah Sing CALLS OFF memorandum of understanding with Thai partner Central Pattana, letter of intent with China Wujin District People's Governement LAPSED

(MAHSING opening stock price today (27.4.2012) was RM 1.96 )

Mah Sing Group Bhd and its potential Thailand-based joint cooperation partner Central Pattana had decided not to pursue a memorandum of understanding (MoU) to study the potential investment of developing and managing a shopping mall Icon City through a joint venture and/or partnership.

In another statement, Mah Sing had also said that the letter of intent which it entered into with China's Wujin District People's Government, Changzhou City had lapsed due to certain obligations which had not been fulfilled.

The company would proceed to conduct a voluntary liquidatino of Mah Sing Property Consulting (Changzhou) Pte Ltd in an effort to reduce operational costs and to channel the funds for other business opportunities. Mah Sing Chanzhou has a total net asset size of RM97.31mil, it said in the statement.

Source: www.thestar.com.my


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