Thursday 28 Mar 2024
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KUALA LUMPUR (Jan 13): Yee Lee Corp Bhd’s wholly-owned subsidiary has ceased to be the non-exclusive distributor of Red Bull Energy Drink and Red Bull Sugarfree in Malaysia.

In a statement to Bursa Malaysia, Yee Lee said its wholly-owned unit, Yee Lee Trading Co Sdn Bhd, has served a written notice to Red Bull Asia FZE, to terminate the distribution agreement with effect from Apr 30, 2015.

Yee Lee expects no “material impact” on its earnings or net assets for the financial year ending Jan 13, 2015.

Shares of Yee Lee (Fundamental Score 1; Valuation Score 1.2) ended up 1 sen or 0.7% to RM1.42, giving the firm a market capitalisation of RM254.71 million.

(Note: The Edge Research's Fundamental Score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. A score of 0 means weak fundamentals and a score of 3 means strong fundamentals. Meanwhile, the Valuation Score determines if a stock is attractively valued or not, calculated based on historical numbers. A score of 0 means valuations are not attractive. Vice versa, a score of 3 means valuations are attractive.)

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