Ni Hsin abandons plans to fabricate, supply scaffolding

This article first appeared in The Edge Financial Daily, on February 7, 2018.
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KUALA LUMPUR: Ni Hsin Resources Bhd has abandoned plans to fabricate and supply scaffolding, materials and accessories to Protection Rigging Access Services Sdn Bhd (PRA). On Nov 2, 2017, Ni Hsin entered into a memorandum of understanding (MoU) with PRA to undertake the business.

Ni Hsin said then that should the business materialise, it was expected to contribute positively to the group’s future earnings.

In a filing with Bursa Malaysia yesterday, Ni Hsin said the two companies had no intention to pursue any further negotiations with each other in respect of the subject matter of the MoU, adding they had mutually agreed that the MoU has since lapsed and ceased to have force and effect.