Offshore investor shows interest in FJ Benjamin
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An international group is seeking to invest in Singapore brand-management company FJ Benjamin, which has such brands as Bell & Ross, Givenchy, Guess and Tom Ford in its portfolio.
FJ Benjamin says it has entered into a non-binding term sheet, a document that sets out the terms and conditions under which an investment will be made, with an offshore third party.
This term sheet would be “in relation to a potential transaction which may enhance or unlock shareholder value”, the company said in a release to the Singapore Exchange.
With mall vacancies in Singapore for the three months to June 30 rising to 7.8 per cent from 7.3 per cent the previous quarter, FJ Benjamin saw its net loss for the fiscal year ended the same date balloon by 35 per cent to about S$23.5 million (US$16.6 million) while revenue fell by 14 per cent to S$253.6 million – its third consecutive year of losses.
Managing more than 20 brands, FJ Benjamin has 226 stores in eight cities. One of its international labels, Raoul, closed its last store in Singapore, in Paragon mall, in February.
Questions & Answers
Q.What is the primary purpose of the non-binding term sheet FJ Benjamin has entered into?
What is the primary purpose of the non-binding term sheet FJ Benjamin has entered into?
The term sheet outlines the terms and conditions for a potential investment by an offshore third party. This transaction is intended to potentially enhance or unlock shareholder value for the company.
Q.What financial performance did FJ Benjamin report for the fiscal year ending June 30?
What financial performance did FJ Benjamin report for the fiscal year ending June 30?
For the fiscal year ending June 30, FJ Benjamin's net loss increased by 35 per cent to approximately S$23.5 million. Revenue also fell by 14 per cent to S$253.6 million, marking its third consecutive year of losses.
Q.Which of FJ Benjamin's brands recently closed its last store in Singapore?
Which of FJ Benjamin's brands recently closed its last store in Singapore?
One of FJ Benjamin's international labels, Raoul, closed its final store in Singapore during February. This store was located in the Paragon mall, as mentioned in the article.
Q.How many stores does FJ Benjamin currently operate across its various brands?
How many stores does FJ Benjamin currently operate across its various brands?
FJ Benjamin currently manages more than 20 brands and operates a total of 226 stores. These stores are spread across eight different cities, as detailed in the article.
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