Naim Indah slumps to lowest since February

KUALA LUMPUR: Shares of Naim Indah Corporation Bhd fell to a low of 27.5 sen on Thursday, the lowest since Feb 3 after the deal to acquire Shell Malaysia Trading Sdn Bhd liquefied petroleum gas (LPG) assets was scrapped.
At 11.34am, NICorp was down 2.5 sen to 28 sen. It was the most active with 24.49 million shares done.
The FBM KLCI
was up 0.61 of a point to 1,576.84. Turnover was 246.67 million shares
valued at RM202.18mil. There were 201 gainers, 249 losers and 247
counters unchanged.
NICorp said on Wednesday it had received a letter from Aspire Rich Sdn Bhd over the termination of the sale of LPG assets by Oman-based Natural Gas Company (S.A.O.G.).
To
recap, on March 13, NICorp said it accepted an invitation from Aspire
to solely and exclusively participate in the proposed acquisition of
Shell Malaysia Trading's LPG business through NGC.
Aspire holds
a 40% stake in the special purpose vehicle and the remaining 60% of the
equity interest is held by NGC, a company incorporated under the laws
of Oman.