Duty Free International

divads
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11 years 10 months ago #9426 by divads

Replied by divads on topic Re:Re:Duty Free International

Berjaya bought 25% Atlan which holds 81% duty free which is listed in SGX. Now berjaya plans to list Berjaya Sports toto. Wait for more action.... Latest: Malaysian gaming firm Berjaya Sports Toto Bhd said it will list its lottery unit Sports Toto Malaysia on the Singapore stock exchange under a business trust and likely raise 1.23 billion ringgit ($492 million). Berjaya Sports Toto, indirectly controlled by Malaysian tycoon Vincent Tan, will transfer its entire stake in the lottery unit into Sports Toto Malaysia Trust for 6 billion ringgit. Berjaya Sports Toto said late on Tuesday that the details of the listing, scheduled for the fourth quarter of this year, will be finalised at a later stage. But the firm said the initial public offering will involve the sale of up to 540 million existing shares and another 460 million of new shares in the trust. The move to shift Berjaya Sports Totoâs lottery unit to Singapore stock exchange will expose the company to a large pool of investors for non-shariah compliant stocks. âSports Toto Malaysia Trust will be mandated to only invest in gaming type businesses or investments,â Berjaya Sports Toto said in a filing to the Malaysian stock exchange. âIt will also adopt a policy of distributing 100% of its surplus operating cashflow annually.â Maybank Investment Bank was appointed as the principal advisor for the listing, Berjaya Sports Toto said. Berjaya Sports Toto dominates the number forecast business in mostly Muslim Malaysia along with Multi-Purpose Holdings. Berjaya Sports Toto shares were up 2.4% in early trade, outperforming the broader market that inched up 0.3%.

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Rich
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11 years 10 months ago #9427 by Rich

Replied by Rich on topic Re:Duty Free International

Divads27 : What is the link between the Toto listing and Duty Free Intl? I blur one.....

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divads
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11 years 10 months ago - 11 years 10 months ago #9428 by divads

Replied by divads on topic Re:Re:Duty Free International

info.sgx.com/webcorannc.nsf/Announcement...03CA6B2?opendocument
Tan Sri Dato' Seri Vincent Tan Chee Yioun is deemed interested in the shares of Duty Free International Limited as a result of his direct and indirect/deemed shareholdings of 42.43% in Berjaya Corporation Berhad ("BCB") which has a direct and indirect interest totaling 9.18% in Atlan Holdings Bhd ("AHB"). BCB also has a deemed interest of 15.79% in AHB pursuant to a conditional share purchase agreement entered into between BCB and Cipta Nirwana (M) Sdn Bhd dated 3 May 2012.

Last edit: 11 years 10 months ago by divads. Reason: amend

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divads
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11 years 10 months ago - 11 years 10 months ago #9429 by divads

Replied by divads on topic Re:Re:Re:Duty Free International

I not too sure... but i suspect some restructuring or ?? or maybe just a simple investment by Vincent Tan... But they willing to pay a historical high price for ATLAN in order to gain access to Duty Free business and with their latest intention to list their Berjaya TOTO (gambling stock) in SGX, does Vincent Tan have something in mind for Duty Free??

Last edit: 11 years 10 months ago by divads. Reason: amend

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Not So Free
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11 years 10 months ago #9489 by Not So Free

Replied by Not So Free on topic Re:Duty Free International

no action for a few days liao. what happened?

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Sue
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11 years 10 months ago #9702 by Sue

Replied by Sue on topic Re:Duty Free International

divads27, are you going to the AGM afterwards? If yes, come back & Share what you hear ok?

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