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PETALING JAYA (July 29): Rivertree STF Synergies Bhd (formerly known as Sinmah Capital Bhd) has deferred its proposed diversification into the management of centralised labour quarters (CLQ), pending the signing and finalisation of a definitive agreement for the business.
In a Bursa Malaysia filing on Tuesday (July 28), the company said the board had, following further deliberation and assessment, decided to undertake the diversification at a later date to align with the execution of the definitive agreement.
The clarification follows Rivertree's announcement on March 19, 2026, outlining plans to expand its principal activities to include the CLQ management business.
The company emphasised that its intention to diversify into the business remains unchanged.
It said it will continue evaluating the proposal and, where appropriate, take the necessary steps to pursue the diversification at a later date.
The filing did not provide a revised timeline or disclose further details of the definitive agreement.
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