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Menswear manufacturer and property developer John Master Industries Bhd (JMI) is proposing to sell its entire business together with all assets and liabilities via an open tender process to be satisfied wholly by cash.

In an announcement to Bursa Malaysia yesterday, the company also proposed a capital repayment to shareholders that would be carried out via the proceeds generated by the proposed disposal as well as through existing cash reserves.

JMI shares were suspended on June 19.

It added that upon completion of the disposal, the company would no longer have any business or operations and would be delisted in the absence of any alternative proposal to maintain its listing status.

In a separate press release, JMI’s board of directors said it believed that the two proposals represented a superior alternative for shareholders considering the fluctuating performance of the company’s two business segments and the relatively illiquid nature of its listed shares.

It added that the company’s inconsistent financial performance had hampered the ability to declare dividends in the past and this was envisaged to continue in the near future due to the challenging outlook and prospects in menswear and property development.

The company said no suitable investments were identified that would provide a stable return even after significant cash reserves were generated through the sale of its land in Kajang in 2006.

Meanwhile, JMI said several substantial shareholders and directors of the company namely Ho Yeong Fan, Ho Wei Ching and Ho Wei Choon have indicated their interest via Yoon Foong Garments Sdn Bhd to participate in the open tender.

It said an independent adviser would be appointed to safeguard minority shareholders’ interest.

Source

Controversial Hong Kong actor and singer Edison Chen is still not ready to get back into high-profile entertainment work as he is not comfortable about it just yet.

Edison, 28, said that apart from producing some films, he had not given much thought about entertainment, adding with a laugh:

“I still don’t know if I am comfortable with that. Honestly, I don’t know if people are comfortable with me doing that.”

However, he assured his fans that he would be involved in singing and acting “in a different way”.

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Malaysia’s consumer confidence index has dropped further to 27.8 for the first half of 2009 from 35.9 six months earlier and 36.9 a year ago, the latest MasterCard Worldwide Index of Consumer Confidence survey showed.

The outlook was the second lowest score since the inception of the survey in 1993.

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WITH “Always Something New” as its brand promise, Suria KLCC has, in the past year, opened 10 boutiques, most of which are flagship stores of internationally renowned labels.

The shops are Ed Hardy, 7 For All Mankind, Mulberry, ck Accessories, Accessorize, Godiva, Harrods, Faber Castell, HTC and Dewi Moon.

American label: The Ed Hardy store attracts plenty of repeat customers, who became familiar with the label when they were abroad.

Suria KLCC campaign marketing and communication senior manager Zurinah Hasan said the mall’s efforts were focused on its shoppers and their needs.

She added that offering a vast range of products, from mass market to luxury labels, was part of what made KLCC unique.

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If you have a penchant for designer home furnishings, head to the Home Ideas by Living Quarters’ sale at the Stadium Malawati in Shah Alam.

The sale is the place to find unique furnishings at unbelievable discounts. The items on sale range from bathroom fittings to bedding, kitchenware to interior furnishings and more.

More than just ideas: A general view of the Home Ideas showcase at Melawati Stadium in Shah Alam.

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If you love Singapore and a good deal, then there is no better time to book Jetstar to one of South-East Asia’s most exciting destinations.

Jetstar, in collaboration with the Civil Aviation Authority of Singapore and the Singapore Tourism Board, is offering passengers the ultimate experience: fly on Jetstar, stay in great accommodation, take a ride on the Singapore Flyer, the world’s largest observation wheel, and shop at the airport — all for free!

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Body Beaus

The Health Ministry has advised the public to avoid buying or using four traditional products that contain prohibited ingredients.

The ministry’s director of its pharmacy services division Eisah Abdul Rahman said the four products were Bodybeaus, Jinglida, Eng Leong Cordyceps Chuanbei Plus Cough Pill 3.5gm and Loong Choo Brand Reh Bih Ho Herbal Tea.

“Their product registration has been cancelled by the Drug Control Authority because they were detected to contain ingredients that are not allowed to be formulated in a traditional product,” she said in a statement here yesterday.

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WHEN one thinks about warehouse sales, it is the clearing of old items that usually comes to mind.

Yet that is not usually the case, especially during this economic recession, said Harvery Norman managing director Angelo Augustus.

Good deal: Customers looking at the laptops on sale.

“We are offering new items at a special price which will benefit our customers during this difficult time,” said Augustus.

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As the hard times hit, the recessionista comes to the fore.

THERE’S the fashionista and there’s the recessionista. With the economy shrinking, people losing jobs and fearfulness about the future infecting even those in the food business, it’s certainly not appropriate to flaunt your Guccis and LVs these days.

It’s all about spouting the right buzzwords and, so, it was only a matter of time before the style icons caught hold of the recession and turned it in their favour.

Smart shoppers: Shopaholics are cutting down on their spending by going for bargain buys during sales at department stores.

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