PETALING JAYA: Ancom Nylex Bhd has called off its proposed disposal of up to a 50% stake in Maxlive Sdn Bhd to Topnext International Company Ltd for US$18.64 million (approximately RM77.04 million) after both parties failed to agree on certain terms of the definitive agreements.

In a filing with Bursa Malaysia, the group said its wholly-owned subsidiary, Nylex Holdings Sdn Bhd, and Topnext had mutually agreed not to proceed with the transaction, which was first announced on Dec 5, 2025.

The decision allows Ancom Nylex to retain full flexibility over Maxlive and its existing business arrangements, including distribution partnerships.

Both parties are now discussing a strategic collaboration to jointly explore business opportunities in the petrochemical industry.