When the bubble bursts
Retreats, checkered histories and changing tides.
🚀 In today’s issue:
→ Loob folds its IPO, and a cautionary tale for F&B aspirants weighing PE money.
→ Malaysia’s chip dreams, rebooted. Same playbook?
→ Wilmar wobbles under two convictions, one dividend cut, and zero contrition.
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Loob Holdings’ chief Bryan Loo confirmed with The Edge this week that he is halting the firm’s IPO process to give the group a “breather” and focus on strategic priorities like fast-moving consumer goods (FMCG) over the next 18 months.
Readers of this newsletter will know why Loob’s billion-ringgit IPO was structurally flawed, and I highlighted that time and fundamentals were working against the firm that owns the Tealive and Bask Bear chains.
It seems that now Loo and co have truly surrendered. But there are some points to take note of: