DUTY FREE INTERNATIONAL TO MOVE TO SGX MAINBOARD

PETALING JAYA: Atlan Holdings Bhd’s major subsidiary Duty Free International Ltd (DFI) has received shareholders’ approval for the transfer of its listing from Catalist to the Mainboard of Singapore Exchange Securities Trading Ltd (SGX-ST). DFI, the largest multichannel duty free and duty paid retailing group in Malaysia, is expected to start trading on SGX-ST Mainboard on Wednesday at 9am. Earlier this year, Heinemann Asia Pacific Pte Ltd a wholly owned subsidiary of Gebr. Heinemann SE & Co KG (Gebr. Heinemann) purchased a 10% plus one share stake in DFZ Capital Bhd (DFZ), a wholly owned subsidiary of DFI, for a consideration of €19.7 million (RM91.3 million) in cash, with an option of increasing its stake by 15%.