SC rejects Prajogo deal

Thu, 29 Jun 1995, 00:00 WIB | Source: REUTERS

KUALA LUMPUR (Reuter): Construction & Supplies House Bhd
(CASH) has confirmed market rumors that a proposed reverse
takeover of the company by Indonesian tycoon Prajogo Pangestu has
been rejected by the Securities Commission (SC).

In a statement to the Kuala Lumpur Stock Exchange, CASH's
merchant banker Utama Wardley Bhd said proposals made on June 16
last year have been rejected by the securities watchdog body.

"Nevertheless, the company will be making an appeal to the
Securities Commission to reconsider its decision," the statement
said.

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