SINGAPORE (Dec 3): RHB Research is downgrading Kimly to “neutral” from “buy” given the latter’s dream of building a major F&B player like Frasers and Neave is over.

This comes after Kimly has terminated its agreement to buy Asian Story Corp (ASC) due to Pokka ending its manufacturing agreement with ASC.

Kimly chairman and director under probe; $16 mil acquisition cancelled

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