Should Isetan have disclosed offer for its Wisma Atria stake?
ISETAN Singapore may be facing a testing time, like many traditional retailers, as a result of changing shopping habits and brutal online competition but that's no reason to be cagey with its shareholders.
Last month, the Japanese department store operator disclosed that a fire occurred at its flagship Isetan Scotts at the Shaw House in the morning of Sept 19. The Singapore-listed retailer said there were no injuries and damage was "limited" and hence, it was unlikely to materially impact the firm's FY2019 showing. The announcement was issued in the evening on the day of the incident.
Contrast this rapid disclosure to Isetan's reticence over a more consequential matter - the possible sale of a key asset.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Foxconn’s musical chairs sound like punk rock
AI fuels cloud computing boom for tech giants
AMD slides after AI chip forecast misses lofty estimates
IBM wins reversal of US$1.6 billion poaching award to BMC
Binance founder Zhao Changpeng gets 4 months in prison
Singapore Airlines could post highest-ever earnings of about S$2.7 billion for FY2024, says analyst