PETALING JAYA: Tafi Industries Bhd

has announced that it will not proceed with the proposed diversification of its trading segment to include standalone trading contracts for building materials.

In a filing with Bursa Malaysia, the group said it anticipates that the aggregate revenue to be generated from the trading segment may not contribute 25% or more of the net profits of the group or cause a diversion of 25% or more of the group’s net assets to an operation which differs widely from its existing segments.