Dec 2011 Financial News

Prestige Holdings Limited - Possible Exit from the Dominican Republic

Dec 02, 2011

Prestige Holdings Limited has informed the Stock Exchange that due to economic issues in the Dominican Republic and Prestige’s decision to relinquish management control of the Joint Venture, in October 2009, KFGL has since suffered frequent management changes and significant losses. As a result, the company has been considering a possible exit from this market. The carrying value of this investment is estimated to be approximately $26 million, and the company therefore expects a significant impairment of its investment.


Source:
The Trinidad and Tobago Stock Exchange Limited
Friday December 2, 2011