Could the two Singapore corporate icons be around at the end of this financial storm?
At this rate that they are going, I really don't think so.
One is a retailer (a premium one, it called itself) selling health-related equipment that other people make and had tried to play the M&A game with the Americans using mostly other people's monies. In yesterday's BT, the last of few hundred millions invested in that foreign land has been erased from its balance sheet.
The other has lost its way since its signature sound card. The company is burning away the USD$100mio won from Apple a few years ago trying to produce and sell products that the whole world knows how to make. After closing down its online initiative, they have just closed down their retail initiative. Sold and lease back their HQ. Sold their online music store.
Come on, guys. Are you running out of ideas? The market will punish harshly!
No comments:
Post a Comment