Fraser & Neave Holdings Bhd (F&N) stands to lose some RM420 million in revenue next year as The Coca-Cola Company (TCCC) is not extending the bottling and distribution agreements with the company when they expire early next year. In a filing to Bursa Malaysia yesterday, F&N disclosed that TCCC does not intend to renew the agreements upon the expiry on Jan 26, 2010.
There's no announcement on which new firm will handle and tie up with Coca Cola for it's bottling and distribution contract, but whoever gets it will be in for a hell of profits. Hehe.
No wonder F&N's share price dropped from rm9 per share to rm7.850 at the close of today's market, a lost of 12.8% in a single day trade. I was a bit surprised to see the high volume and sudden drop of price in the market today for F&N, now I know why :)
1 comment:
Server them right, its god’s punishment for bullying that old man with the rotten tea pot sweetened condensed milk complaint. Anyone know what happened to that old man? The last I read he was still fighting in court with those idiots.
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