While Loh estimates that the selling price is lower than DFI's entry cost, this move signals the company's more definite focus on operations that can generate better return on capital employed.
UOB Kay Hian's Adrian Loh has kept his "buy" call on DFI Retail Group (SGX:D01
) after it sold its 22.2% stake in Robinsons Retail Holdings (RRH) in the Philippines for US$280 million.
The sale, the latest in a series of significant divestments, should enable DFI to continue its strategic focus on higher-return core businesses.
