SINGER (M) Sdn Bhd, one of the retail chains of tycoon Tan Sri Vincent Tan has come one full circle. In the latest corporate exercise, the major shareholder of Berjaya group has proposed that his flagship company – Berjaya Corp
orate Bhd (Bcorp) acquires Singer.
Once again he has left the market wondering why he would want to put Singer into Bcorp, which he substantially owns directly, when a previous listing exercise of the retail chain was not well received.
In 2010, Tan astonished the market when he dramatically announced the privatisation of Berjaya Retail Bhd (Bretail), just seven months after its listing. Bretail’s two business arms were Berjaya Singer and 7-Eleven chain of convenient stores.
...