Parkson Retail's plans stay intact
Posted on 19 April 2013 - 05: 37am
Kang Siew Li
PETALING JAYA (April 19, 2013): The vision, direction and strategic organization plans of Parkson Selling Group Limited (PRGL) and Parkson Full Asia Ltd (PRA) will remain the training course, outgoing exec director and managing representative Datuk Alfred Cheng Yoong Choong explained, despite him stepping down coming from his content at equally companies effective May thirty-one. " There's no change in vision, direction or strategies of the firms. They stay the same. Really my responsibility as a mature advisor towards the board to ensure they remain on track, " Alfred, forty-nine, told SunBiz over the mobile phone from London, uk. In a submitting with the Hong Kong and Singapore stock exchanges on The spring 5, 2013, PRGL and PRA respectively announced that Alfred will be abandoning his positions in equally companies for personal reasons and you will be replaced by simply current nonexecutive director and chairman Color Sri William Cheng Heng Jem, 75, who is also the granddad of Alfred, from May well 31. Alfred's current collection, which involves the day-to-day supervision of the companies' business, will probably be handled by the respective region CEOs. " My decision is a personal one. We have spent a lot of the last quarter of a century travelling 3 weeks monthly and it's about time I devote more time to my family that is residing in Birmingham. " I'll remain positively involved in promoting the team to handle the business. The CEOs are all highly qualified, experienced and competent. The business is still on track, " said Alfred. Alfred stay put as nonexecutive director and senior mechanic to the chairman and the board of the two PRGL and PRA. In his new capacity, Alfred can continue to support the proper direction, eye-sight and advancement the companies' businesses in the area. Alfred is actually a substantial aktionar in PRA with a 6. 2% stake, and is the owner of 0. 03% in PRGL. Alfred, who has been in the helm of the Parkson organization for 18 years, started out his career with the Parkson group in 1987, holding various positions including while COO and general supervisor of promoting department at its Malaysian additional, Parkson Corp Sdn Bhd. Alfred is one of the founding users of PRGL and PRA, which have cultivated to become one of many largest variety store operators in their respective marketplaces. Under his stewardship, Hong Kong-listed PRGL has now widened its network to fifty-five stores across 35 metropolitan areas in China and tiawan, while Singapore-listed PRA works 53 retailers across Malaysia, Vietnam and Indonesia. Alfred is giving at a time when ever PRGL can be facing falling profits amongst a competitive landscape when PRA continues to be experiencing progress. PRGL's net profit fallen 24. 2% to RMB850. 8 million for the financial season ended Dec 31, 2012 due to the tough operating environment and larger operating expenses associated with new stores opening plus the leases file format. However , PRA's net earnings for the six months finished Dec 31, 2012 (H1 FY13) increased 27. five per cent to S$26. 9 mil, from S$21. 1 , 000, 000 a year ago, generally driven by strong growth in same-store sales, increased sales production from existing stores, the opening of new stores plus the inclusion of the operations in Indonesia, acquired in June 2011. Intended for FY13, PRA targets to open seven new stores across Malaysia, Vietnam, Indonesia, Cambodia and Myanmar. In Come july 1st last year, PRA announced it is expansion into Sri Lanka through the acquisition of a 42. 19% stake in Colombo-listed store Odel PLC, as part of it is vision of becoming the leading mall operator in South and Southeast Asia. (Market development)
Matrix Ideas to start RM680m tasks in 2013
Posted on 18 April 2013 - 03: 06pm
Last updated in 18 04 2013 - 06: 12pm
PETALING JAYA (April 18, 2013): Matrix Principles Holdings Bhd, enroute intended for listing on the Main Industry of Bursa Malaysia by first half of this year, programs to release new real estate projects well worth up to RM680 million in gross development...