Leisure / Recreation
Kuoni Reisen Holding AG Refocuses Tour Operator Portfolio and Exits Loss-Making Markets in Europe; Lowers FY 2012 Guidance
Kuoni Reisen Holding AG (Kuoni) announced that its Board of Directors has decided that in the light of the evolution of the Company’s portfolio, various smaller loss-making tour operating businesses are no longer of strategic relevance to the Company. Kuoni no longer wants to run these activities and will explore exit options depending on circumstances for each of the various businesses, which may include complete or partial sale, management buy-out, or even termination of activities if no sustainable solutions can be found. Businesses affected are Kuoni's tour operating activities in Italy, Spain, the Netherlands, Belgium and Russia, as well as the B2C online hotel platform Octopustravel. Kuoni will commence consultations with employee representatives in accordance with local statutory requirements. It is not possible to accurately quantify the financial consequences of these changes. The reduction of the portfolio could entail direct cash-relevant costs amounting to CHF 35 million. In addition, non-cash-relevant costs and impairments will impact the result. The operating result (EBIT) respectively net result is expected to be reduced by approximately CHF 80 million, which is likely to happen in the fiscal year 2012. The earnings forecast for the fiscal year 2012, issued on August 23, 2012, has to be adjusted accordingly. The measures being taken should eliminate annual operating losses (EBIT) of approximately CHF 17 million in the future.
Korea Digital Communications Corp to Divest Network Integration and System Integration Business into Subsidiary
Korea Digital Communications Corp announced that it will divest its network integration and system integration business into a newly established wholly owned subsidiary. The transaction effective date and registration date are expected to be November 17, 2012 and November 19, 2012, respectively.
H.I.S. Co Ltd to Merge with Subsidiary
H.I.S. Co Ltd announced that it has decided to merge with its Tokyo-based wholly owned subsidiary, which engaged in the investigation and research on travel business, effective October 31, 2012. After the merger, the subsidiary will be dissolved.
Parken Sport and Entertainment A/S Proceeds with Merger with Subsidiary
Parken Sport and Entertainment A/S announced that it has proceeded with the intercompany merger between PARK Sport & Entertainment A/S and its subsidiary PARK Venues A/S.
Genting Berhad Announces Members' Voluntary Winding-Up Of GB Credit & Leasing Sdn Bhd
Genting Berhad announced that further to the Company's announcement dated December 3, 2010, pertaining to the voluntary winding-up of GB Credit & Leasing Sdn Bhd (In Members' Voluntary Liquidation) (GBCL), a 69.5% owned subsidiary of the Company, the Company announced that the liquidators of GBCL had convened a final meeting of GBCL to conclude the members' voluntary winding-up. The Return by Liquidator Relating To Final Meeting (Return) of GBCL was lodged on August 7, 2012, with the Companies Commission of Malaysia and the Official Receiver. Pursuant to Section 272(5) of the Companies Act, 1965, on the expiration of three months after the lodgement of the Return, GBCL will be dissolved.
INOX Leisure Limited Approves Proposed Merger Of Fame India Limited With Its Subsidiaries
Fame India Ltd announced that the Board of Directors of the Company at its meeting held on June 15, 2012, has given its in-principle approval for the proposed merger of the Company and its existing subsidiaries (namely, Fame Motion Pictures Limited, Big Pictures Hospitality Services Private Limited and Headstrong Films Private Limited) with its holding company, INOX Leisure Limited.
INOX Leisure Limited Approves Proposed Merger Of Fame India Limited With Its Subsidiaries
INOX Leisure Limited announced that the Board of Directors of the Company at its meeting held on June 15, 2012, has given its in-principle approval for the proposed merger of Fame India Limited, subsidiary of the Company along with its subsidiaries namely, Fame Motion Pictures Limited, Big Pictures Hospitality Services Private Limited and Headstrong Films Private Limited, with the Company.
Parken Sport & Entertainment A/S and PARKEN Venues A/S to Merge
Parken Sport & Entertainment A/S announced that the Company's Board of Directors has signed a merger plan between the Company and its subsidiary, PARKEN Venues A/S. The merger within the Group is made in continuation of the merger plans announced on May 23, 2011, with the aim of simplifying the corporate structure of Parken Sport & Entertainment A/S, and thereby achieving administrative savings. The merger plan and the creditor statement will be published as soon as possible via Enterprise Agency IT (Information Technology) system, soon after which the merger should be adopted by the Boards of Directors of both the Company and PARKEN Venues A/S.
Reliance Pacific Berhad Announces Striking Off Application Of Vector Junction Sdn Bhd
Reliance Pacific Berhad announced that an application for striking off a subsidiary company known as Vector Junction Sdn Bhd under Section 308 of the Companies Act 1965 was submitted to the CCM.
Asiatravel.com Holdings Ltd Announces Striking Off Of Indirect Wholly Owned Subsidiary
Asiatravel.com Holdings Ltd announced that Arahato Asia Pte. Ltd., an indirect wholly owned subsidiary of the Company, which had been dormant since the date of its incorporation, had been struck off the Register of Companies, Singapore, pursuant to Section 344 of the Companies Act, Cap. 50.
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Analyst Research
| Report Title | Price |
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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