After the proposed sale of 45% of raffles city shopping complex to Capitamall trust and Capitacommercial trust, RHL will proceed with a capital distribution as they do not intend to invest in new businesses.
Since RHL no longer has a core business, the shares may be suspended and ,at a later date, be delisted from the SGX-ST.
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Probably explains why the share price mysteriously hit 85cents last week....Expect the price to hit around $1.05.
And this marks the end of a good company which we will all remember for their hardwork in building up the Raffles brand name.
