Guardian Pharmacy Malaysia
Dairy Farm expands with Malaysian acquisition - Dairy Farm International Holdings, Giant TMC - Brief Article - Statistical Data Included Hong Kong-based Dairy Farm International Holdings has expanded its supermarket operations in Malaysia with the purchase of a 90% stake in the Giant TMC group. Giant operates five supermarkets and two hypermarkets in Malaysia and is forecasting in excess of US$200m (??181.8m) for 1999.
"This agreement will allow Dairy Farm to strengthen its position as the leading international player in this important market," said Michael Kok, Dairy Farm' s regional director for South Asia. The Giant acquisition will not only allow Dairy Farm to strengthen its Malaysian operations but will also provide it with a platform to extend the hypermarket format throughout the rest of Asia. Dairy Farm has a 75% stake in the Malaysian supermarket chain Wellsave and a 65% interest in the Guardian pharmacy chain.
COPYRIGHT 1999 Agra Europe Ltd.
COPYRIGHT 2000 Gale Group
|
