DOCSLIB.ORG

Parkson Retail Group Limited Parkson

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Parkson Retail Group Limited Parkson stock code:3368 Parkson Retail Group Limited Parkson Retail Group Limited ϛଞਆพඑ྆τࠉʔ̇ $118$/5(3257ααం 22006006 ANNUAL REPORT CContentsontents CCorporateorporate PProfirofi llee 0011 Corporate Information 03 Milestones For The Year 04 CChairman’shairman’s StatementStatement 0055 MManaginganaging DDirector’sirector’s SStatementtatement 0077 Financial Highlights 11 Management Discussion And Analysis 13 Biographies Of Directors And Senior Management 27 CCorporateorporate GGovernanceovernance RReporteport 3322 Directors’ Report 37 Independent Auditors’ Report 61 Parkson Annual Report 2006 02 CCorporateorporate Profi le Parkson Retail Group Limited, one of the premier foreign-owned retailers in the People’s Republic of China ( the “PRC” ). The Company and its subsidiaries, jointly-controlled entities and associate ( hereinafter collectively refer to as the “Group” ) owns and manages 36 “Parkson” branded department stores and 2 “Xtra” branded supercentres in prime locations in 26 major cities in the PRC including Beijing and Shanghai. 01 Parkson Annual Report 2006 The Group positioned itself at the middle to middle-upper end of the department store sector, offers a wide range of internationally renowned brands of consumer merchandise which can be broadly categorised into 4 categories, namely “fashion and apparel”, “cosmetics and accessories”, “household, electrical goods and others” and “groceries and perishables”. The Group’s main focus is on fashion and lifestyle products, in particular the ladies’ fashion and cosmetics targeting the young and contemporary markets. Parkson Annual Report 2006 02 Corporate Information BOARD OF DIRECTORS EXECUTIVE DIRECTORS REGISTERED OFFICE REMUNERATION COMMITTEE CHENG YOONG CHOONG C/O M&C CORPORATE SERVICES LIMITED CHENG YOONG CHOONG ( CHAIRMAN ) MANAGING DIRECTOR PO BOX 309GT KO TAK FAI, DESMOND YAU MING KIM, ROBERT CHEW FOOK SENG UGLAND HOUSE CHIEF EXECUTIVE OFFICER SOUTH CHURCH STREET GEORGE TOWN GRAND CAYMAN CAYMAN ISLANDS PRINCIPAL SHARE REGISTRAR AND NON-EXECUTIVE DIRECTOR TRANSFER OFFICE TAN SRI CHENG HENG JEM BUTTERFIELD FUND SERVICES ( CAYMAN ) LIMITED CHAIRMAN HEAD OFFICE AND BUTTERFIELD HOUSE PRINCIPAL PLACE OF BUSINESS 68 FORT STREET P.O. BOX 705, GEORGE TOWN INDEPENDENT 9TH FLOOR PARKSON PLAZA GRAND CAYMAN, CAYMAN ISLANDS No.101 FUXINGMENNEI AVENUE BRITISH WEST INDIES NON-EXECUTIVE DIRETORS XICHENG DISTRICT STUDER, WERNER JOSEF BEIJING 100031 KO TAK FAI, DESMOND PRC YAU MING KIM, ROBERT HONG KONG BRANCH SHARE REGISTRAR AND PRINCIPAL PLACE OF BUSINESS IN TRANSFER OFFICE HONG KONG TRICOR INVESTOR SERVICES LIMITED 26TH FLOOR TESBURY CENTRE SUITE 1316 PRINCE’S BUILDING 28 QUEEN’S ROAD EAST 10 CHATER ROAD WANCHAI CENTRAL HONG KONG HONG KONG COMPANY SECRETARY PRINCIPAL BANKERS IN THE PRC BANK OF CHINA SENG SZE KA MEE, NATALIA AGRICULTURAL BANK OF CHINA FCIS, FCS, FHKIoD, EMBA INDUSTRIAL AND COMMERCIAL BANK OF CHINA CHINA MERCHANTS BANK JPMORGAN CHASE BANK SHANGHAI BRANCH QUALIFIED ACCOUNTANT WONG KANG YEAN, CLARENCE ACCA, CA ( MIA ) PRINCIPAL BANKERS IN HONG KONG BNP PARIBAS HONG KONG BRANCH STANDARD CHARTERED BANK AUTHORISED REPRESENTATIVES ( HONG KONG ) LIMITED THE HONG KONG AND SHANGHAI CHENG YOONG CHOONG BANKING CORPORATION LIMITED CHEW FOOK SENG UNITED COMMERCIAL BANK COMPLIANCE ADVISER AUDITORS BNP PARIBAS PEREGRINE CAPITAL LIMITED ERNST & YOUNG CERTIFIED PUBLIC ACCOUNTANTS AUDIT COMMITTEE KO TAK FAI, DESMOND ( CHAIRMAN ) LEGAL ADVISORS STUDER WERNER JOSEF SIMMONS & SIMMONS YAU MING KIM, ROBERT WEBSITE ADDRESS www.parkson.com.cn 03 Parkson Annual Report 2006 Milestones For The Year Completed the acquisition of the minority interest in 6 Parkson branded department stores. Completed the acquisition of the 100% ownership of two Parkson branded managed stores in Kunming . Completed the issuance of 5-years US$200 million high yield bond. Voted the Best Asian Bond by Euroweek. Voted the Best Asian Corporate Bond by Euroweek. Signed 5 new lease agreements for a total additional floor space of approximately 120,000 square meters. Parkson Annual Report 2006 04 CChairman’shairman’s SStatementtatement Introduction The year 2006 was another very successful year for the Group. We reported an impressive set of result with the total operating revenues increased by 79.8% to Renminbi ( the “RMB” ) 2,184.0 million and the profi t attributable to our shareholders increased by 85.8% to RMB460.8 million. Earning per share rose 50.9% to RMB0.83. On the back of this successful result, the Board of Directors recommended payment of a fi nal dividend per share of RMB0.27. Together with the interim dividend per share of RMB0.15 declared and paid in the month of August 2006, the full year dividend would amount to RMB0.42 per share or a dividend distribution ratio of 50.3%. Market Overview The People’s Republic of China ( the “PRC” ) economy surged to become the world’s fourth-largest economy on the back of decades of solid growth. The economy continued its remarkable growth for the year 2006. As reported by the National Bureau of Statistic of China the Gross Domestic Product ( the “GDP” ) expanded by approximately 10.7% to reach RMB20.9 trillion, led by the strong growth in export, fi xed asset investment and domestic consumption. Decades of solid economic growth has led to strong emergence of middle class, rising disposable income of the PRC consumers and the booming domestic consumption market. Supported by these positive factors, the retail industry expanded solidly by 13.7% in the year 2006 to top RMB7.6 trillion, making the TAN SRI CHENG HENG JEM PRC one of the biggest and fastest growing retail CHAIRMAN markets in the world. The department store sector is believed to have approximately 10% share of the total retail industry, giving us a staggering market size of approximately RMB760 billion. 05 Parkson Annual Report 2006 Looking Forward Going forward, at macro level the PRC economy On behalf of the Board, I would like to express my will continue its strong and solid growth despite gratitude to our workforce for their hard work and uncertainties in the oil price and the world economy. dedication, my sincere appreciation to our valued Amid the central government’s continuing efforts to customers, shareholders and business associates for their rebalance the economic growth away from fi xed asset continuing supports. Last but not least, my sincere thanks investment and export towards domestic consumption, to the members of the Board of Directors and the senior the strengthening of the RMB and more importantly the management for their contribution and devotion to the accelerating growth of disposable income, the retail Group. industry is poised to be the main driving force of the TAN SRI CHENG HENG JEM future economic growth. CHAIRMAN 26 FEBRUARY 2007 The strong brand equity of Parkson among the middle to middle upper end consumers in the PRC market will ensure that the Group continues to capitalize on the expansion of the retail industry. The liberalization of the foreign ownership in the retail industry and the emergence of various retails formats have brought along increased competition in the retail market. However, the department store sector particularly the lifestyle and fashion orientated department store will continue to be the preferred format of shopping among the increasingly affl uent Chinese consumer. The Group will remain fi rmly focus in the department store sector and with our proven business model, dedicated workforce and healthy fi nancial position, we are confi dent that we will continue to enhance our leadership position in the market and diligently execute our carefully developed expansion plans. Parkson Annual Report 2006 06 Managing Director’s Statement The PRC economy continued its remarkable growth for the year 2006. In line with the strong economic growth and the booming domestic consumption market, the Group made further progresses during the year. The Group achieved a strong double digit Same Store Sales ( the “SSS” ) growth of approximately 17.1% for the year under review. The impressive SSS growth was made possible through attractive promotional activities to increase the traffi c fl ow and our philosophy of innovation by continuously varying our merchandise mix and brand mix to accurately target our intended customers. CHENG YOONG CHOONG MANAGING DIRECTOR 07 Parkson Annual Report 2006 As disposable income growth in the PRC is driving the consumption for more upscale branded merchandise, we see opportunities to bring distinctive fashion and affordable luxury brands to our customers. Last year we introduced the likes of ”Aquascutum”, “Armani Collezioni”, “Cartier”, “Dunhill”, “Hugo Boss” and “Lancel” brands to our Beijing and Shanghai fl agship stores. Besides maintaining a strong SSS growth, the Group continues to execute earning accretive and strategic acquisitions to further expand our business The Group further consolidated our position as one of and enhance the earning for our shareholders. The the leading department store operators in the PRC by Group acquired in the month of July last year, the signing fi ve new lease arrangements throughout the minority interest of six Parkson branded department year to add a total of approximately 120,000 square stores through the successful acquisition of the meters of retailing space to our existing portfolio. The remaining 44% equity interest not already owned Group targets to roll out all the fi ve new stores in the in Parkson Retail Development Co., Ltd ( the “44% year 2007. Beijing Parkson” ). The acquisition has immediately enhanced the profi tability of the Group and allowed the Group greater fl exibility in the implementation of In November 2006, the Group issued a 5-years Beijing Parkson’s business expansion plan. US$200 million High Yield Notes ( the “High Yield Notes” ) that carry an annual coupon of 7.875%. The gross proceeds from the High Yield Notes The Group acquired a 100% ownership of the was used to subscribe for a Credit Link Note ( the two Parkson branded managed stores in Kunming, “CLN” ) issued by JPMorgan Chase Bank N.A., ( the “Kunming Stores” ) in the month of November London Branch, and simultaneously JPMorgan Chase last year.
Load more

Recommended publications
  • Management Discussion and Analysis
    MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS AND OPERATIONS The Group is principally engaged in the operation of the “Parkson” and “Centro” brands department stores. Its stores offer a wide range of internationally renowned brands of fashion and lifestyle related merchandise in 4 main categories namely, Fashion & Apparel, Cosmetics & Accessories, Household & Electrical, and Groceries & Perishables, essentially targeting the young and contemporary market segment. In addition, the Group is also involved in the retailing of fashionable goods, operation of gourmet supermarkets and food and beverage (“F&B”) outlets, and consumer financing business. The businesses of the Group are spearheaded by Parkson Retail Group Limited (“PRGL”), listed on The Stock Exchange of Hong Kong Limited, which operates and manages 47 retail stores in China; and Parkson Retail Asia Limited, listed on the Singapore Exchange Securities Trading Limited, that houses 66 retail stores in Southeast Asia. The number of owned and managed stores in each location is as follows: Number of Stores As at 30 June 2018 2017 Malaysia 44 45 China 47 49 Vietnam and Myanmar 7 8 Indonesia 15 17 113 119 OVERVIEW 2018 2017 Change Consolidated Statement of Profit or Loss RM Million RM Million Gross sales proceeds 11,092 11,629 -5% Revenue 3,982 3,964 0.5% Operating profit/(loss) 3 (142) >100% (Loss)/profit before tax (83) 224 (#) - >100% Consolidated Statement of Financial Position Total assets 8,948 9,757 -8% Deposits, cash and bank balances 2,594 3,143 -17% Total liabilities 5,340 5,908 -10% Total borrowings 2,499 2,697 -7% Net assets 2,234 2,391 -7% (#): Included (i) gain on disposal of a subsidiary in China of RM828 million; and (ii) impairment losses on assets amounting to a total of RM428 million.
    [Show full text]
  • Parkson Retail Group Limited
    THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION If you are in doubt as to any aspect of this circular or as to the action to be taken, you should consult your licensed securities dealer, bank manager, solicitor, professional accountant or other professional adviser. If you have sold or transferred all your shares in PARKSON RETAIL GROUP LIMITED, you should at once hand this circular to the purchaser or the transferee or to the bank, licensed securities dealer or other agent through whom the sale or transfer was effected, for transmission to the purchaser or transferee. The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this circular, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this circular. PARKSON RETAIL GROUP LIMITED (a company incorporated in the Cayman Islands with limited liability) (Stock Code: 3368) DISCLOSEABLE TRANSACTION ACQUISITION OF MANAGED STORES IN KUNMING 8 December 2006 CONTENTS Page DEFINITIONS ............................................................ 1 LETTER FROM THE BOARD ............................................... 7 APPENDIX — GENERAL INFORMATION ..................................... 15 —i— DEFINITIONS In this circular, unless the context otherwise requires, the following expressions have the following meanings: “Acquisition” the transactions contemplated under the Sale and Purchase Agreement “Anshan
    [Show full text]
  • Profile of Key Senior Management
    PROFILE OF KEY SENIOR management Juliana Cheng San San Singaporean, female, 50 years of age Ms Juliana Cheng San San was appointed an Executive Director of Parkson Retail Group Limited (“PRGL”) on 28 August 2015. PRGL Group undertakes the Group’s retail business in the People’s Republic of China (“PRC”). Ms Juliana Cheng graduated with a Bachelor of Commerce (Management) from the University of Western Sydney, Australia in 1994 and completed a Program for Global Leadership from Harvard Business School, Boston, the United States of America in 2000. Ms Juliana Cheng started her career with the Lion Group in 1995 with stints in Singapore and Malaysia. During her tenure from 1995 to 2004, she held various positions in finance, human resource, administration and business development. In 2004, Ms Juliana Cheng was seconded to Parkson China as Cosmetics Manager and thus, began her career in the retail industry. She left Parkson China in May 2006 and joined Chanel (China) Co., Ltd. as the National Accounts Manager for business development in the PRC. In June 2010, she re-joined Parkson China as Regional Director overseeing its retail operations in the PRC. She is also a director of various subsidiaries of PRGL. During her more than 20 years with the Lion Group, Parkson China and Chanel (China) Co., Ltd., she has accumulated vast experience and knowledge of the retail and branding industry which enables her to contribute to the Group. Ms Juliana Cheng is the daughter of Y. Bhg. Tan Sri Cheng Heng Jem who is the Chairman and Managing Director, and a major shareholder of the Company.
    [Show full text]
  • Not for Release, Publication Or Distribution in Whole Or in Part in Or Into the United States, Canada Or Japan
    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN. CAPITAMALLS MALAYSIA TRUST (“CMMT”) (I) PROPOSED ACQUISITION BY AMTRUSTEE BERHAD (“TRUSTEE”), ON BEHALF OF CMMT OF GURNEY PLAZA EXTENSION PROPERTY (AS DEFINED HEREIN) FOR A PURCHASE CONSIDERATION OF RM215,000,000 (“PROPOSED ACQUISITION”); (II) PROPOSED PLACEMENT OF NEW UNITS IN CMMT (“UNITS”) BY WAY OF BOOKBUILDING, AT A PRICE TO BE DETERMINED LATER, TO RAISE GROSS PROCEEDS OF UP TO RM167.1 MILLION (“PROPOSED PLACEMENT”), AND ACCEPTANCE OF CMMT INVESTMENT LIMITED’S UNDERTAKING TO SUBSCRIBE FOR SUCH NUMBER OF UNSUBSCRIBED NEW UNITS SUBSEQUENT TO THE CLOSE OF THE BOOKBUILD; (III) PROPOSED PLACEMENT OF NEW UNITS TO CMMT INVESTMENT LIMITED, AT A PRICE TO BE DETERMINED LATER, TO RAISE GROSS PROCEEDS OF UP TO RM69.7 MILLION, WHICH REPRESENTS 41.74% (BEING THE CURRENT UNITHOLDING OF CMMT INVESTMENT LIMITED IN CMMT) OF THE TOTAL GROSS PROCEEDS TO BE RAISED FROM THE PROPOSED PLACEMENT (“PROPOSED PLACEMENT TO CMMT INVESTMENT LIMITED”); (IV) PROPOSED AUTHORITY TO ALLOT AND ISSUE NEW UNITS OF UP TO 20% OF THE APPROVED FUND SIZE OF CMMT PURSUANT TO CLAUSE 14.03 OF THE SECURITIES COMMISSION’S GUIDELINES ON REAL ESTATE INVESTMENT TRUSTS (“REITS GUIDELINES”) (“PROPOSED AUTHORITY”); AND (V) PROPOSED INCREASE IN THE EXISTING APPROVED FUND SIZE OF CMMT FROM 1,350,000,000 UNITS UP TO A MAXIMUM OF 2,000,000,000 UNITS (“PROPOSED INCREASE IN FUND SIZE”) (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”) 1. INTRODUCTION On behalf of the Board of Directors of CapitaMalls Malaysia REIT Management Sdn.
    [Show full text]
  • MR.DIY X Shopeepay RM4 Cashback 2021 Locate Your Nearest MR.DIY Stores Now NO. STORE NAME 1 1 Arena Tawau 2 1 Beaufort Commercia
    MR.DIY x ShopeePay RM4 Cashback 2021 Locate Your Nearest MR.DIY Stores Now NO. STORE NAME 1 1 Arena Tawau 2 1 Beaufort Commercial Kk 3 1 Borneo Hypermall 4 1 Segamat 5 1 Shamelin Mall 6 1 Telipok Tuaran Sabah 7 1 Utama Bandar Utama 8 1st Avenue Mall 9 3 Damansara 10 88 Marketplace, Kota Kinabalu 11 9 Avenue Nilai 12 A Mart Kempas 13 Aeon Alpha Angle 14 Aeon Au2 15 Aeon Bandaraya Melaka 16 Aeon Big Bukit Minyak 17 Aeon Big Bukit Rimau 18 Aeon Big Kluang 19 Aeon Big Kluang - (2) 20 Aeon Big Puchong Utama 21 Aeon Big Seri Petaling 22 Aeon Big Subang Jaya 23 Aeon Big Tun Hussein Onn 24 Aeon Big Tun Hussein Onn 25 Aeon Big Wangsa Maju 2 26 Aeon Ipoh Station T18 27 Aeon Mall Klebang Ipoh 28 Aeon Mall Kota Bahru 29 Aeon Mall Kuching Central 30 Aeon Mall Shah Alam 31 Aeon Mall Taman Maluri Cheras 32 Aeon/Jusco Kulai Jaya 33 Aeon/Jusco Mall Bm 34 Aeonbig Ampang 35 Aeonbig Ipoh Phase 1 36 Aeonbig Ipoh, Phase 2 37 Aeonbig Kepong 38 Aeonbig Penang Prai 39 Aeroville Mall Kuching 40 Aiman Mall, Kota Samarahan Sarawa 41 Alamanda Putra Jaya 42 All Season Place 43 Amanjaya Mall,Sungai Petani 44 Amber Plaza,Jalan Jelawat Cheras 45 Amcorp Mall, Pj 46 Ampang Point Shopping 47 Aneka Jerai Plaza 48 Angsana Ipoh Mall 49 Atria Shopping Gallery 50 Aurora Place@ Bukit Jalil 51 Avenue K, Ampang 52 Axis 53 Ayer Tawar, Perak 54 Balakong 55 Balok Darat Kuantan 56 Balwin Business Center Tapah 57 Bandar Baru Ayer Hitam 58 Bandar Baru Betong 59 Bandar Baru Jerteh, Terengganu 60 Bandar Baru Kubang Kerian 61 Bandar Baru Permyjaya Emart Tudan 62 Bandar Bestari Jasin 63 Bandar Bukit Sentosa 64 Bandar Bukit Tinggi, Klang 65 Bandar Cheras Batu 11 66 Bandar Darulaman Jaya, Jitra 67 Bandar Indera Mahkota 68 Bandar Kok Lanas,Ketereh 69 Bandar Maran, Pahang 70 Bandar Pasir Puteh 71 Bandar Perdana Sandakan 72 Bandar Perlan.
    [Show full text]
  • Malaysia Real Estate Highlights
    A comprehensive analysis of Malaysia's residential, retail, office and industrial markets Real Estate Highlights knightfrank.com/research Research, 1st Half 2020 REAL ESTATE HIGHLIGHTS KUALA LUMPUR HIGH END CONDOMINIUM MARKET Market Indications Highlights The COVID-19 pandemic is driving the global economy into recession and many countries, including Malaysia, are responding with stimulus packages to avoid a cascade of bankruptcies and emerging market debt defaults. The country’s dependency on oil revenue The recovery path of the property will further strain the government’s fiscal position amid declining oil prices. market since 2019, which was supported by the extended Home The country’s economy expanded 4.3% in 2019 (2018: 4.7%), the lowest growth since the Ownership Campaign (HOC), has global financial crisis in 2009. It weakened further to record at 0.7% in 1Q2020 (4Q2019: been thrown off by the onset of the 3.6%), reflecting the early impact of measures taken both globally and domestically to COVID-19 pandemic in 1Q2020. contain the spread of the novel coronavirus. Malaysia's economic growth for 2020, as measured by gross domestic product (GDP), is projected at between -2.0% and 0.5%. 6-month automatic loan moratorium to provide a short-term breather to The period of low headline inflation, recorded at 0.7% in 2019 (2018: 1.0%), mainly reflects borrowers impacted by the pandemic. the lapse in the impact from the Sales and Services Tax (SST) implementation. It continued to remain modest at 0.9% in 1Q2020 (4Q2019: 1.0%) due to lower fuel costs. The country’s The Central Bank has also lowered average headline inflation for 2020 is expected to turn negative due to lower global fuel the Overnight Policy Rate (OPR) thrice prices coupled with weaker domestic growth prospects and labour market conditions.
    [Show full text]
  • 5465 434 Aeon Co
    No. Counter name Region TELEPHONE Address 1 Address 2 1 AEON CO. (M) BHD. KINTA CITY Central 05 - 5465 434 AEON CO. (M) BHD. KINTA CITY AEON IPOH STORE & KINTA CITY SHOPPING CTR, NO. 2 JLN TEH LEAN SWEE OFF, JLN SULTAN AZLAN SHAH UTARA, 31400 Ipoh 2 PARKSON GRAND - IPOH Central 05 - 2410 650 PARKSON GRAND - IPOH G01,F01, IPOH PARADE, NO.1 5 JLN SULTAN ABDUL JALIL, GREEN TOWN, 30450 IPOH 3 PACIFIC HYPER & DEPT STORE-TAIPING MALL Central 05 - 8048 850 PACIFIC HYPER & DEPT STORE-TAIPING MALL LEVEL GF, JALAN TUPAI, 34000 TUPAI, 34000 TUPAI 4 PACIFIC HYPER & DEPT STORE-KB MALL East Coast 09 - 7419 686 PACIFIC HYPER & DEPT STORE-KB MALL LOT PT 101 & 102, JLN HAMZAH, SEKSYEN 16, 15050 KOTA BHARU 5 PACIFIC HYPER & DEPT STORE-MENTAKAB East Coast 09 - 2785 052 PACIFIC HYPER & DEPT STORE-MENTAKAB LORONG BENDERA BENDAHARA 1, MENTAKAB STAR CITY, 28400 MENTAKAB 6 PARKSON GRAND - EAST COAST MALL East Coast 09 - 5609 245 PARKSON GRAND - EAST COAST MALL GROUND LEVEL, LEVEL 1, LEVEL 2, ZON ONE, JLN PUTRA SQUARE 6, PUTRA SQUARE, 25200 KUANTAN 7 AEON CO. (M) BHD. BANDAR UTAMA Kuala Lumpur/ Selangor 03 - 7726 6393 AEON CO. (M) BHD. BANDAR UTAMA AEON BANDAR UTAMA STORE, Lot LG/G/F/S125, 1 UTAMA SHOPPING CENTRE, No. 1, LEBUH BANDAR UTAMA, 47800 PETALING JAYA 8 AEON CO. (M) BHD. METRO PRIMA KEPONG Kuala Lumpur/ Selangor 03 - 6252 6973 AEON CO. (M) BHD. METRO PRIMA AEON METRO PRIMA STORE & SHOPPING CTR, LOT 4 86 FASA 332,JLN KEPONG/ JLN METRO PRIMA, MUKIM BATU, 52100 KL 9 AEON CO.
    [Show full text]
  • New Tenants for Parkson KLCC Space
    Wednesday, 27 March 2019 New tenants for Parkson KLCC space KUALA LUMPUR: More than 50 new tenancies will take over the space previously occupied by the Parkson departmental store in Suria KLCC, a development which will boost income and yield for premier shopping destination Suria KLCC Sdn Bhd. Chief executive officer Andrew Brien said the new tenants comprise mainly those in food and beverage, cosmetics and fashion businesses. The asset enhancement exercise “will be around RM50mil, and would see a positive impact on its earnings due to higher net property income contributed by the new tenancies next year, said KLCC Property Holdings Bhd (KLCCP) group chief executive officer Datuk Hashim Wahir on the sidelines of the Invest Malaysia event last week. In a subsequent interview, Brien said: “Around the world, departmental stores are closing down. We need to provide variety. We are not doing it in response to the retail mall being planned in Tun Razak Exchange (TRX).” “Malaysia’s issue is not online shopping but too many retail malls. Online sales only account for 4% of retail sales,” said Brien. The redevelopment will provide new customer experience which would satisfy the ever-changing and challenging retail landscape in the city, said Brien. The three floors occupied by anchor Parkson totalled 12% or 124,435 sq ft of Suria KLCC’s net lettable area (NLA) but contributed about 3% to its total gross income. The breadth and depth of new tenants will help to pull up yield because anchor tenants enjoy a lower rental rate. According to Brien, the retail scene in the Klang Valley is, and will be even more challenging this year, which makes it all the more important for established malls to keep evolving.Phase one of the redevelopment, to comprise mainly food and beverage outlets, is estimated to be completed by the fourth quarter of this year.
    [Show full text]
  • Formation of Joint Venture
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. PARKSON RETAIL GROUP LIMITED 百盛商業集團有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock code: 3368) MAJOR TRANSACTION: FORMATION OF JOINT VENTURE THE JOINT VENTURE COOPERATION AGREEMENT The Board is pleased to announce that on 15 October 2020, Shanghai Shengrui (an indirect wholly-owned subsidiary of the Company) and Hongxiang Real Estate entered into the Joint Venture Cooperation Agreement in respect of the formation of the Joint Venture. IMPLICATIONS UNDER THE LISTING RULES As one or more of the applicable percentage ratios (as defined in Rule 14.07 of the Listing Rules) in respect of the consideration under the Joint Venture Cooperation Agreement are more than 25% but all of such ratios are less than 100%, the entering into the Joint Venture Cooperation Agreement constitutes a major transaction of the Company under Chapter 14 of the Listing Rules and is therefore subject to the announcement, circular and shareholders’ approval requirements under Chapter 14 of the Listing Rules. 1 To the best of the knowledge of the Directors, no Shareholder or any of their respective associates has any material interest in the Joint Venture Cooperation Agreement and none of the Shareholders is required to abstain from voting in favour of the resolution to approve the entering into the Joint Venture Cooperation Agreement.
    [Show full text]
  • China Retail Cities
    Spotlight | 2018 CHINA 20 RETAIL CITIES savills.com.cn/research This Publication This document was published in Oct 2018. All economic data is from the end of 2017. Store numbers were collected at the end of June 2018. Savills China retail cities study, which began in 2014, uses 16 series to determine leaders in two categories: the “economic index” is based on city’s macroeconomic figures and the “retailer index” is based on how many stores that 50 international brands have opened in the city. The series are weighed and aggregated to give a final score to each city. FOREWORD Great Expectations Despite challenges ahead, the market maturity between different regions and the emergence of new property and retail technology is expected to bring new dynamics to bear on the retail market. China’s retail market looked to be in full recovery towards the end of 2016 when During the past 12 months, Alibaba launched its “New Retail” concept to China saw balanced invest into the physical retail market. With expansion rates across Tencent also entering the physical retail main retailer categories market in 2017—through partnerships with while central and western a number of department stores and cities continued to supermarket chains—more capital and online outperform their peers in players began seeping into the offline market both economic growth and and giving the physical retail market a facelift. retailer expansion. We look at these retail trends in However, the recent turbulence and Chinese cities in this uncertainty in the property and stock special report. markets, as well as continuous deleveraging of the financial market and trade disputes Retailers between China and US, are straining the F&B segment continued underlying fundamentals of the economy and to outperform fashion may impact consumer sentiment in the near sector.
    [Show full text]
  • China Propertiesproperties
    ChinaChina PropertiesProperties NovemberNovember 28,28, 20072007 Disclaimer Wheelock (Stock code: 20) & Wharf (Stock code: 4) Group Presentation Disclaimer All information and data are provided for information purposes only. All opinions included herein constitute Wheelock and Wharf’s judgment as of the date hereof and are subject to change without notice. The Group, its subsidiaries and affiliates hereby disclaim (i) all express, implied, and statutory warranties of any kind to user and/or any third party including warranties as to accuracy, timeliness, completeness, or fitness for any particular purpose; and (ii) any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the information and data contained herein. China Properties 2 Presentation Outline Introduction Flagship Projects - Shanghai Wheelock Square, Shanghai - Wuxi Super Tower, Wuxi - Suzhou Super Tower, Suzhou - Hongxing Lu, Chengdu 。IFC 。IFC Tiandi Residential Projects China Properties - Wholly-owned -J/V Outlook 3 China Macro Economic Environment Government revenue rose by 30% Vs last year Foreign exchange reserves ~ US$1,400B at Q3 2007 Low foreign debts ~ about 12% of GDP as at end of 2006 Inflation rate ~ 4.4% (Jan – Oct 2007) China Properties 4 Market Outlook China Property Market Robust economic growth and steady wealth creation process with increasing domestic demand in housing in China → continue to benefit its real estate developments Robust economic growth – 8-9% GDP growth p.a. and even higher in certain cities (11% in 2007) Growth in private enterprise formation ~ over 16% for 2006, ie. about 5 million private enterprises in mainland now (for 10-year up to 2005, the annual growth rate was about 30%!) Growth in automobile sales ~ over 20% p.a.
    [Show full text]
  • Parkson Retail Group Limited
    THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION If you are in doubt as to any aspect of this circular or as to the action to be taken, you should consult your licensed securities dealer, bank manager, solicitor, professional accountant or other professional adviser. If you have sold or transferred all your shares in PARKSON RETAIL GROUP LIMITED, you should at once hand this circular to the purchaser or the transferee or to the bank, licensed securities dealer or other agent through whom the sale or transfer was effected, for transmission to the purchaser or transferee. The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this circular, 10.06(1)(b)(xi) makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this circular. This circular is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of PARKSON RETAIL GROUP LIMITED. PARKSON RETAIL GROUP LIMITED (a company incorporated in the Cayman Islands with limited liability) (Stock Code: 3368) NOTICE OF ANNUAL GENERAL MEETING GENERAL MANDATES TO REPURCHASE SHARES AND TO ISSUE NEW SHARES AMENDMENT OF ARTICLES OF ASSOCIATION RE-ELECTION OF RETIRING DIRECTORS A notice convening an Annual General Meeting of Parkson Retail Group Limited to be held at Victoria I, Level 2, Four Seasons Hotel, 8 Finance Street, Central, Hong Kong on 28 April 2006, Friday at 10:00 a.m.
    [Show full text]