Clarify if BPlant-KLK deal is off, says Bersatu MP

Wan Ahmad Fayhsal Wan Ahmad Kamal recalls the firm stance the defence ministry had taken over the proposed 33% equity sale.

Machang MP Wan Ahmad Fayhsal Wan Ahmad Kamal said the government must state its next course of action over the proposed sale of a 33% stake in Boustead Plantations Bhd to Kuala Lumpur Kepong Bhd.

Wan Ahmad Fayhsal Wan Ahmad Kamal, who had expressed concern over the deal during the debate on the 12th Malaysia Plan mid-term review last month, said the government must also clarify its next course of action. Among the questions posed by Wan Ahmad Fayhsal are whether the government has investigated the reasons behind Boustead Holdings Bhd’s financial troubles, whether action was taken against those responsible for mismanagement, and if stakeholders were consulted on the proposed deal.It was also reported that KLK and BPlant had suspended trading since 9am, pending an announcement. Bursa Malaysia Securities said the trading halt was at the request of BPlant.

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