iMOL Archives - France's Carrefour retreats from Malaysia: govt
Welcome iMOL Archives



Home 2SubscribeTrigger HappyEthnic ClashForumHistorySocialPoliticsEconomyEducationPlantation WorkersAbout me
Silence is not an option when things are ill done - Lord Alfred Dennings
Search   in  

 Create an AccountMain Home | Submit News | Your Account | Content | Topics | Top 10  

· Home
· Advertising
· AvantGo
· Feedback
· Forums
· Private Messages
· Recommend Us
· Search
· Statistics
· Stories Archive
· Submit News
· Surveys
· Top 10
· Topics
· Your Account

Who's Online
There are currently, 6 guest(s) and 0 member(s) that are online.

You are Anonymous user. You can register for free by clicking here

Select Interface Language:

Random Headlines

[ Religion ]

·Hindu Influence and Southeast Asia
·Spiritual leader Sathya Sai Baba passes away
·Hindu mum wants conversion fight brought to apex court
·Conversion a favorite hobby of religious zealots
·Harry Potter star Afshan threatened by family for dating Hindu boy Read more: H
·S'gor MB: No more developments that displace temples
·Finas regrets Deepavali clip offended Hindus
·Misleading advertisement of FINAS
·Julia Roberts embraces Hinduism

France's Carrefour retreats from Malaysia: govt

Contributed by Anonymous on Tuesday, August 24 @ 10:37:30 CDT

(AFP) – Aug 24 2010
KUALA LUMPUR — French retail giant Carrefour plans to sell its business in Malaysia, a minister said, amid speculation the firm will also offload its Singapore and Thai stores and exit Southeast Asia altogether."We heard that Carrefour is considering divesting. It is for the purpose of rationalisation of their overseas business," deputy trade minister Mukhriz Mahathir told AFP late Monday.

"They want to sell their business (in Malaysia)," he said, adding that "other hypermarkets are keen to take over" Carrefour's 23 stores in the country."There are many suitors," he said.Low Ngai Yuen, Carrefour's marketing and communications director, declined to respond to the comments.Yeah Kim Leng, group chief economist with financial research firm RAM Holdings, said Carrefour's impending departure from Southeast Asia had been well flagged."The news has been around for some time. It is an open secret that Carrefour wants to pull out from Malaysia, Thailand and Singapore. They have put feelers out to the industry on their plan," he said.Yeah said Carrefour wanted to consolidate its business and move its resources to the booming Indian market."It is not surprising for them to move to India. The middle class segment is a large expanding group," he said.The New Straits Times newspaper last month reported that Carrefour had put a tag of 1.0 billion dollars collectively on its business in Malaysia, Singapore and Thailand.Yeah said the growth of the hypermarket industry in Malaysia was not spectacular compared to the opportunities presented by the fast-growing Indian market but that it remained profitable."The hypermarket industry in Malaysia is dynamic and very competitive," he said."Given the growth potential in the region, we will likely see other players buying Carrefour. Players that exit will be able to find suitors."Other players in the Malaysian market who are possible buyers of the Carrefour outlets include Britain's Tesco, Japan's Jusco, and Giant, which is owned by the Dairy Farm group.



Don't have an account yet? You can create one. As a registered user you have some advantages like theme manager, comments configuration and post comments with your name.

Related Links
· More about Economy
· News by sound

Most read story about Economy:
Why Iskandar Development Region Will Fail

Article Rating
Average Score: 0
Votes: 0

Please take a second and vote for this article:

Very Good


 Printer Friendly Printer Friendly

Disclaimer: The views expressed by the authors and comments on this website are the sole responsibility of the writers themselves. The writer will take full responsibility, liability, and blame for any libel or litigation that results from something written in or as a direct result of something written in a comment. The accuracy, completeness, honesty, exactitude and factuality of the articles and comments are not guaranteed by iMOL.

If you do not wish any of your writing republished here, please send mail to sound20[at] Allow us one month to remove it. Thanks. Copyright 1998 iMOL

Page Generation: 0.24 Seconds