BIL, don't you lose my number

BIL International Limited (SIN:B16) has been in the news on both sides of the Causeway of late. Its KLSE listed holding company, Camerlin has surged following reports of a possible in specie distribution of BIL shares to Camerlin shareholders.

Over in Singapore, market sentiment is also warm towards BIL after a series of announcements regarding its foray into the UK gaming industry. In this connection, it has indicated that it wants to spend 31 million pounds to buy Rank Group’s Clermont Club. It has also applied for licenses to operate casinos within their Thistle hotels in UK. As a result, BIL's share price has chalked up a gain of 20% since we featured it in June 29.

Then, we had also alluded to the potential of the redevelopment of Molokai. Since then, news about this matter has been mixed. There are activists who resist development on what is known as Hawaii's last undeveloped island. In fact, in September, about 30 of them occupied La'au point on Southwestern Molokai at Shipwreck Cove to make their point that the island's development plans will have a negative impact on the island. However, Molokai Properties Limited, a fully owned subsidiary of BIL, proceeded to file a special management area permit to make a significant first step towards the re-opening of the abandoned 152 room Kaluakoi Hotel last week. The hotel is part of Kaluakoi Resort which Molokai Properties Limited purchased in 2001. The other part of the resort is a 18-hole course which has since been re-opened for play in 2004. The next step in the application process is for Maui County to review the application and seek comments from other stakeholders. More certainty on the outcome of the application should come through in the first quarter of 2007.

The title is a play on the Phil Collins top five smash hit, "Billy, Don't you lose my number". It was released in 1985 in the album, "No Jacket Required".