MUI's purchase of MetroJaya II

Look at this statement made.

"We feel this restructuring is mutually beneficial as it allows the MUI group to consolidate and enlarge its retailing division, which also controls the Laura Ashley group," said MUI Properties Bhd's executive director George Tang in a statement.

"Under MUI, Metrojaya will be able to expand more aggressively in Malaysia as well as in the region," he added.

What's so wrong?

Well, Metrojaya WAS once a listed stock.

MetroJaya WAS once doing fine until they privatise it.

Uner MUI, can MetroJaya expand aggressively?

Perhaps a guage of MUI's earnings performace would be a GOOD indicator.

No?

MUI has lost money its last 5 fiscal years!!!

1. fy 2001 lost 18.652 million


2. fy 2002 lost 996.506 million


3. fy 2003 lost 174.043 million


4. fy 2004 lost 405.474 million


5. fy 2005 lost 419.805 million

Currently? MUI lost 334.077 million for its most recent 4 quarters.

And look at what's being said again: "We feel this restructuring is mutually beneficial as it allows the MUI group to consolidate and enlarge its retailing division, which also controls the Laura Ashley group"

Here's the trick question.

So such a restructuring, how and WHO DOES it benefit???