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Correction: GuocoLand's Malaysian Unit Moves Closer to Delisting Following High Court Petition

By

(Corrects the first paragraph to fix a typo and clarify the unit's name)

GuocoLand's (SGX:F17) Malaysia-listed unit, GuocoLand (Malaysia) (KLSE:GUOCO), filed a formal petition with the High Court of Malaysia to confirm its proposed share capital reduction and repayment framework, according to a Thursday filing.

The court application, submitted on June 4, serves as the primary legal step remaining to execute the company's privatization via a selective capital reduction mechanism.

This follows the property developer's shareholders approving the proposed privatization of the company at an extraordinary general meeting held on May 29.

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