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JCorp denies talk of KFC takeover by Damansara Realty

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JCorp denies talk of KFC takeover by Damansara Realty Empty JCorp denies talk of KFC takeover by Damansara Realty

Post by Cals Wed 07 May 2014, 01:38

JCorp denies talk of KFC takeover by Damansara Realty
Business & Markets 2014
Written by Jeffrey Tan of theedgemalaysia.com   
Tuesday, 06 May 2014 18:06

KUALA LUMPUR (May 6): Johor Corporation Bhd (JCorp) has denied speculations that Damansara Realty Bhd (DBHD) will take over its subsidiary, KFC Holdings (Malaysia) Bhd.

“JCorp is not aware of such proposal and has not solicited any proposal in relation to the mentioned companies,” said the state corporation in an email statement to theedgemalaysia.com.

Earlier today, theedgemalaysia.com reported that DBHD, which has close links with the Johor royalty, rose 13% after the firm was rumoured to take over KFC.

DBHD official could not be reached for comment.

DBHD attracted market attention after Johor businessman Datuk Daing A Malek Daing A Rahaman, who is well connected to the state royalty, assumed control of DBHD via Seaview Holdings Sdn Bhd.
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