The Board of SAGTEC Global announced that the Share Sale Agreement entered with Ramssol Group Berhad for the proposed acquisition of a 40% stake in Rider Gate Sdn Bhd, a subsidiary of Ramssol, has been terminated. The completion of the transaction was subject to the fulfilment of certain conditions precedent, including the requisite approval of SAGTEC's Board. SAGTECs Board did not provide the requisite approval, and accordingly, the condition precedent was not fulfilled.
SAGTEC said the termination of the SSA will not have any adverse effect on its financial position or results for the current fiscal year, and that it remains open to exploring future collaborations with Ramssol or any other potential partners.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.