Well, Berjaya is eyeing the parcel of land .. maybe for redevelopment? They already signed a S&P to buy over the land. But would it be better to take over at a depressed price now and get both the land and duty free business? Maybe, just maybe
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[TigerMel 25-05-2012]:
I was at ZON JB yesterday, shopping mall is spacious but business is slow. Nice Hotel with dinning area fronting the sea but was the only person there.
Last edit: 12 years 5 months ago by divads. Reason: amend
They are interested in the parcels of land in penang and jb. Duty free share price is catching up lately. In June 2012, Atlan has to make sure their share to be 25% public spread. Right now is 24.2%. The main major shareholder has 50.29% compared to berjaya's 24.97%. So after the public spread is restored to 25%, any more action from berjaya cannot be discounted. And Atlan has 81% stake in duty free international. So after taking over Atlan, delist duty free and make it privately owned with the piece of land in JB and the lucrative duty free business is quite possible.
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[viviene 25-05-2012]:
divads27, I think Berjaya is pursuing Atlan, so Atlan cheong in Malaysia. But Berjaya has no direct interest in Duty Free leh. Why would Berjaya chase up the parent but not the subsi?
They are interested in the parcels of land in penang and jb. Duty free share price is catching up lately. In June 2012, Atlan has to make sure their share to be 25% public spread. Right now is 24.2%. The main major shareholder has 50.29% compared to berjaya's 24.97%. So after the public spread is restored to 25%, any more action from berjaya cannot be discounted. And Atlan has 81% stake in duty free international. So after taking over Atlan, delist duty free and make it privately owned with the piece of land in JB and the lucrative duty free business is quite possible.
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[viviene 25-05-2012]:
divads27, I think Berjaya is pursuing Atlan, so Atlan cheong in Malaysia. But Berjaya has no direct interest in Duty Free leh. Why would Berjaya chase up the parent but not the subsi?
Divads27:
1. Since you know so much about Duty Free and even the possible intent of Berjaya, I believe you must have accumulated a lot of the Duty Free shares. Correct?
2. I am puzzled by your delisting scenario for Duty Free. It's about a year only since its RTO by Atlan. Doesn't seem likely that it will be delisted so fast. Seems like a lot of wasted effort, not to mention money, in the RTO. What do you think?
[hr]Well, just mentioned in another forum, I started to recommend and accumulating duty free at a price of 22-26 cents.. and 1.1 to 1.8 cents for it's warrants since Feb this year when I discovered the strange price movement of Atlan over at bursamalaysia.
It is not uncommon for a company to delist just after listing. There are quite a few compaines which did that over at sgx, one example is ASIAONE.COM in 2002 i think. By delisting, Berjaya would have total control on the parcels of land and it's duty free business and duty free is not actively traded over at sgx.
