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Xingquan International to attract more FIIs
23
Jul '10
Xingquan International Sports Holdings Ltd, an outdoor wear producer of footwear and apparels is planning to bring in more institutional investors. It is in talks with funds in Taiwan and China in an effort to attract investments.

The company had been able to attract four large institutional investors from US and Europe in the month of May 2010 and now will be able to draw investment from China as Malaysia has been approved under the Qualified Domestic Institutional Investor (QDII) Scheme.

For the third quarter ending March 31, the company posted net revenues totaling to RM 170.2 million, a hike of 60 percent and a net profit of RM 32.7 million, up 46 percent from the same period in the previous year.

Xingquan International is sold in 25 provinces in China, in around 2,000 outlets and is now in the process of expanding into five more provinces.

While speaking to fibre2fashion, Guan Hoe, spokesperson of Xingquan said that, “We are very excited after one year of listing. We are expanding and our products are well accepted as evidenced by the sales order position”.

He added by saying that, “Orders from the latest Autumn/Winter 2010 sales fair amounted to RM 323 million and in addition, our stock is also attracting Foreign Institutional Investors and the industry we are in, is getting popular with each passing day in China.”

Fibre2fashion News Desk - India

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