The sale price is said to be “at least a couple of billion ringgit”.
The team at DBS Group Research is keeping its “buy” call on DFI Retail (SGX:D01
) with an unchanged target price of US$3.90 ($5.24) after The Edge Markets announced that the group will be exiting its grocery retail business in Malaysia.
The sale will be made via DFI Retail’s 70% stake in GCH Retail (Malaysia) Sdn Bhd (GCH Retail). The remaining 30% of GCH is owned by Syarikat Pesaka Antah Sdn Bhd, according to the article.
