Should Isetan have disclosed offer for its Wisma Atria stake?
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Anita Gabriel
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.
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