News

Unless otherwise stated, all abbreviations and definitions used herein shall have the same meanings as those used in the Company’s announcements in relation to the "Execution of Heads of Merger Agreement Between Knusford and Ekovest Berhad".

Further to the Announcement made on 28 July 2025, the Board wishes to announce the following additional information, as required by Bursa Malaysia Securities Berhad:

1.           The Heads of Merger Agreement between the Company and Ekovest Berhad to explore and negotiate the Proposed Knusford-ECSB Merger (“Proposed Merger”) has been extended three (3) times, with the final extension announced on 27 January 2025.  Despite ongoing efforts, the parties were unable to reach an agreement on the transaction value and key terms of the Proposed Merger.

2.           No termination fees were incurred for this Proposed Merger.

3.           The Company remains open to revisiting the Proposed Merger should suitable opportunities arise in the future.

4.           The lapse of the Merger Agreement is not expected to have any material financial, operational, legal, or risk-related impact on the Company.

The announcement is dated 29 July 2025.