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Carrefour denies closure of its stores
Jul '10
Denying any shutting down of their store across Malaysia and Singapore, Carrefour Company affirmed that, it was everyday business for them at each store.

More so, with the launch of four Carrefour hypermarkets in Malaysia, early this year, four more stores are scheduled to be introduced by the year-end, revealed a company statement.

Supposedly, as per market rumours, during the past couple of days, Carrefour SA was said to have been seeking for buyers for its properties in Malaysia, Thailand and Singapore, which was likely to raise about US $1 billion.

The so-called sales of these aforesaid properties were to take place, as the company intended to focus on its businesses in China and India, which is providing them with increased growth potential.

Post these rumours, a Thai distributor of people's goods, Saha Pathanapibul Pcl had also shown its interests in bidding for Carrefour SA's stores located in Thailand.

Saha Pathanapibul Pcl's Chairman, Boonchai Chokwatana, said that, Carrefour had contacted them for the probable sales, and that Saha was studying the details of Carrefour's plans to sell its stores in South-East Asia.

More so, another market report revealed that, Big C and Tesco firms too were keen in buying properties in Thailand. While Tesco, Dairy Farm and Japanese supermarkets were interested in buying out the Malaysian stores, Tesco was also keen in the Singapore-based outlets of Carrefour.

Fibre2Fashion News Desk - India

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