Thursday, September 6, 2012

Parkson ... Sep12

It is moving closer to its goal to own and operate shopping malls, Parkson Holdings’ wholly owned unit agreed to pay rm98 million for a 23.22 acre site in Melaka from a company controlled by Tan Sri William Cheng. Parkson Holdings intends to morph into an entity that owns and manages shopping malls. The purchase will be using internally generated funds.
 
HK Listed Parkson Retail Group Ltd and Parkson Retail Asia Ltd, which is listed in Singapore and both are units of Parkson Holdings. Its second mall would be in Melaka and would cost some rm400 million to build. Its first mall is located in Setapak, KL which is the only mall in the portfolio of Parkson Holdings.
 
A retail centric REIT will be considered once its asset pool is big enough.

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