Dutaland Bhd, a Malaysian plantation and property group, dropped the most in 28 months in Kuala Lumpur trading after IOI Corp scrapped an agreement to buy the company's oil palm land for RM830 million.
The stock slid 11 percent to 54 sen at 9:01 a.m. local time, set for its steepest decline since June 18, 2009. -- Bloomberg
IOI Corporation Bhd announced on Tuesday it terminated its proposed acquisition of 11,977.91 ha (29,597.42 acres) of oil palm PLANTATION  land from Dutaland Bhd for RM830 million.
IOI Corp said on Tuesday, the cancellation was “due to non-compliance of certain terms and conditions”. However, Dutaland has rejected the reasons for the termination.