Tesco sells businesses in Thailand, Malaysia for US$10.6b
LONDON (March 9): Britain's biggest retailer Tesco said on Monday that it agreed to sell its businesses in Thailand and Malaysia to Charoen Pokphand Group for an enterprise value of US$10.
COVID-19 outbreak a wake-up call: AEON MD
KUALA LUMPUR (March 9): The sluggish retail market outlook, contributed by an already slowing economy and now the COVID-19 outbreak, has not deterred the spirits of AEON Co (M) Bhd.
Retailers in tourist zones record over 70% slump in sales amid coronavirus outbreak
KUALA LUMPUR (Feb 18): At least two retailers are experiencing drastic sales decline at their outlets located at tourist zones, following concerns over the 2019 novel coronavirus (COVID-19) outbreak.
COVID-19: Too early to provide rental rebate to retailers, says PPK Malaysia
PETALING JAYA (Feb 18): It is still premature to immediately give out rental rebate to retailers affected by the ongoing COVID-19 outbreak, said the Malaysia Shopping Malls Association (PPK Malaysia) in response to the joint media statement issued by several retailer groups yesterday.
COVID-19: Retailers' sales drop 50%, appeal for rent relief
KUALA LUMPUR (Feb 17): Retailers in the country are urging mall and shop unit landlords to provide rental rebates of 30% to 50% for six months from February 2020 as their businesses have been affected since the COVID-19 outbreak.
COVID-19 a boon and bane for Parkson's China unit
PETALING JAYA (Feb 15): The COVID-19 outbreak in China is both a boon and a bane for The Stock Exchange of Hong Kong-listed Parkson Retail Group Ltd (PRG), The Edge Malaysia reported today.
Jasons Food Hall in Bangsar to shut down after 20 years
KUALA LUMPUR (Feb 11): Jasons Food Hall, an upscale supermarket owned and operated by Hong Kong's Dairy Farm International Ltd, is shutting down and moving out of Bangsar Shopping Centre (BSC).
Giant to exit Sabah and Sarawak
PETALING JAYA (Feb 1): GCH Retail (M) Sdn Bhd, which operates Giant, Cold Storage, Mercato and Jason’s branded hypermarkets and supermarkets, will exit Sabah and Sarawak within the next couple of months as part of the reorganisation of its operations, The Edge Malaysia reported today.
Thai tycoons bid for Tesco’s US$7b Asia business
PETALING JAYA (Dec 28): Thai tycoons are looking to buy the Thailand and Malaysian operations of Britain's biggest retailer Tesco, Bloomberg reported yesterday.
One of Petaling Jaya’s oldest supermarkets to shut down
KUALA LUMPUR (Dec 16): The shutters are coming down at Cold Storage in Section 14 — one of the oldest supermarkets in Petaling Jaya, Selangor.
