KUALA LUMPUR: Lembaga Tabung Angkatan Tentera (LTAT), the controlling shareholder of Boustead Holdings Bhd, has dropped its plan to delist the company, citing Covid-19 challenges.
"In light of the prolonged challenging economic environment arising from the Covid-19 outbreak and the reimplementation of the movement control order, alongside heighten risks and increased uncertainties to successfully complete the proposal, LTAT has decided not to proceed with the proposal at this juncture," Boustead said in filing with Bursa Malaysia today.
The statement was issued by Boustead on behalf of LTAT.
LTAT, which owns a 59.4% stake in Boustead, had in May last year said it is considering to privatise the company.
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