Bursa Malaysia: Parkson- expanding to Indonesia

Recent Corporate Development

Yesterday, Parkson announced that its indirect wholly-owned subsidiary, Parkson Retail Asia Pte Ltd ("Parkson Asia") and Centro Retail Pte Ltd (a wholly-owned subsidiary of Parkson Asia) proposed to acquire100% shareholding of PT Tozy Sentosa ("TS"), a subsidiary of PT Tozy Bintang Sentosa ("TBS") at a total consideration of USD12,799,249. This is pursuant to a conditional joint-venture agreement with PT Mitra Samaya and Parkson Asia for the purposes of combining the Malaysian and Vietnamese retail business of PHB with the Indonesian retail business of TBS. For more, go here.

Three days earlier, Parkson announced that it had completed the acquisition of a property located in Hai Phong, Vietnam for a cash consideration of USD24.15 million by Parkson Haiphong Co Ltd ("Parkson Haiphong"), a wholly-owned subsidiary of the Company, from Thuy Duong Investment Joint Stock Company of a property located in Hai Phong. For more, go here.

These two announcements signify Parkson's ambition to grow its department store operation aggressively in Vietnam & Indonesia.

Recent Financial Results

Parkson's net profit increased by 12% q-o-q or 26% y-o-y to Rm105 million for QE31/3/2011. Its turnover increased by 6% q-o-q as well as y-o-y to RM801 million.

The parkson in everyone very same style one, once you go in you can clearly see it's Parkson...

the bb is very lagging one [You must be registered and logged in to see this image.]

bernardlcn wrote:the bb is very lagging one [You must be registered and logged in to see this image.]

monitor d bb 0.10 but don dare buy cos no1 touching it but tot 2 get some 0.105 but some1 beat me 2 it ...