The Board of Directors of BCorporation announced that BCorporation had on 13 August 2020 entered into a Termination Agreement with Berjaya Retail Sdn Bhd and Tan Sri Dato' Seri Vincent Tan Chee Yioun to mutually terminate the Memorandum of Understanding in relation to the proposed acquisition by BCorporation of 100% equity interest in Singer (Malaysia) Sdn Bhd from BRetail for a total purchase consideration of MYR 536.00 million ("Termination") due to business challenges and uncertainty in the recovery of the economy after the Covid-19 outbreak. The Termination will not have any material effect on the issued share capital, substantial shareholders' shareholdings, earnings, net assets and gearing of the BCorporation Group.