Reference is made to the Companys announcements dated 18 June 2012 and 18 September 2012 in relation to the Memorandum of Understanding entered into between the Company and the vendors of Polyware Sdn Bhd (PWSB) and KMB Trading Sdn Bhd (KMBT) for the proposed acquisition of PWSB and KMBT(Proposed Acquisition).
The Board of Directors of SCCH wishes to announce that SCCH and the vendors of PWSB and KMBT were unable to agree on the purchase consideration for the Proposed Acquisition and have therefore resolved not to proceed with the Proposed Acquisition.
This announcement is dated 18 October 2012.