Landmark- The rival removed his gloves?

In the Business Times today, you will find an article entitled "Syed Yusof may reveal bid for Landmarks". As I've said yesterday, Syed Yusof cannot maintain his silence for too long as the proposed private placement could seriously jeopardise his chances of gaining control of Landmark. He needs to come out & stop the proposed private placement. What would be the basis of his objection? Being a shareholder, he has a strong ground to protest a private placement at a big discount of 10% below the market price. However, that will not be enough. He must also protest that the existing shareholders' interest in the company will be diluted by the proposed private placement. Otherwise, the incumbent management can turn around and say "OK, we will do the placement at market price." What then? Well, it is only going to get more interesting over the few days & weeks.

With this latest development, our hope of gaining entry into Landmark at RM1.50/1.52 will likely be dashed. At the end of this morning session, Landmark share price was up 7 sen to close at RM1.69.