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In another rare move today, someone pushed the share price to a high close of $0.15 - up $0.025, or 20%! - by mopping up a total of 415 lots in the later part of the afternoon session. Something positive brewing? Let's hope this is not an act by someone under heavy alcoholic intoxication!
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I've passed by some Harry's Bars around the Raffles Place and Boat Quay area, and I must say the crowd is not as large as I would have expected. For instance, the outlet near Boat Quay should be swarming with people after work (office workers), but usually they go to the Irish Pubs such as Molly Malones or Penny Black.
As for the Harry's at Far East Square, I passed by this outlet this evening at around 7 and it was not very crowded, while other watering holes and restaurants around the area were teeming with people. Could there be a reason for this? Pricing or variety of drinks/food?
I also visited the Esplanade branch before on a weekday evening and it was sparesly filled (about 20% of the tables).
The Company should release some info/suggestions on the profitability of outlets and the efforts they are undertaking to improve top line and margins.
(Not Vested)
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The problem is we don't have a culture for drinking. Unlike western culture where it's quite normal to pop into a pub for a few drinks after work or even during lunch time or like in China were drinking is part of their culture during meals.
In singapore there is no culture for drinking, in fact government disapproves drinking as often there's a lot of negative media attention to drink driving and authorities conduct nightly spot checks regularly and you must have seen for yourselves the penalties are stiff and offenders sometimes get their names published in the newspapers Drinking has now associated with bad behavior.
That's why If you try to stake out any of these Harry Pubs for a few days you will find their clientele is a lot of foreigners and very few locals because people only drink on social occasions and even then likely to go to a place with localized flavor like KTV or simple karaoke joint. If Harry's opened pubs in China then it could be a different story.
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The Offer is subject to the Offeror receiving valid acceptances, which when taken together with Shares owned, controlled or agreed to be acquired by the Offeror and parties acting in concert with the Offeror will result in the Offeror and parties acting in concert with the Offeror holding such number of Shares carrying more than 50% of the voting rights attributable to the Shares as
at the close of the Offer.
with mohan family giving their irrevocable intetion to accept the offer (they have about 45% stake), i guess this is almost a done deal.
i just hope that everstone is not as 'shaky' as the reliance brothers in terms of committed corporate actions.
huat ah!
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How is it that Soup Restaurant, Select Group and Breadtalk is doing so well but Harry cant?