Berjaya Sports Toto cancels Singapore listing plans for Sports Toto

Berjaya Sports Toto Bhd said it’s canceling its plans to list its Sports Toto Malaysia Sdn Bhd unit as a business trust on the Singapore Stock Exchange because of difficult market conditions. The company said the expectation that interest rates are set to rise and the poor performance of real estate investment trusts and other business trusts had led to the decision. The company had received all the necessary approvals for the listing.