On 19 July 2005, Azman Yahya announced his plan to take over Bolton. He intend to privatise Kejora Harta as well.
Kejora Harta, control a company call Rampai-Niaga Sdn Bhd, is the Body Shop franchise holder in Malaysia, with its 41 stores nationwide and 27% growth in 2004. Rampai-Niaga posted revenue of RM56.8mil for its financial year ended Dec 31, 2004 and a pre-tax profit of RM16.4mil. Net profit was at RM12mil.
"Should the takeover of Kejora Harta be an all-cash deal, Bolton would have to pay RM112.1mil to buy the remaining shares and warrants it does not own. That price would value Rampai-Niaga at 9.34 times its 2004 earnings, a snip for a company that has been showing profit growth of over 20% per annum. " The Star comment in its report.
Kejora Harta and The Body Shop should remain a public listed company in Malaysia. Minority shareholder in Kejora Harta should reject the offer from Bolton
Tag: Cosmetic : Beauty
