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MyTown Shopping Centre has opened in the Kuala Lumpur CBD as a joint development by Boustead Holdings and retail banker Ikano. It features 1.6 million sqft (148,644 sqm) of retail space (more than 400 stores), an alfresco dining area and a park. Anchor…
Thai ambassador to Cambodia Nuttavudh Photisaro says Central representatives have already studied the proposed site, not yet revealed publicly. “By investing in a shopping mall, they hope the trade volume between the two countries will increase,” says…
Parkson Retail Asia has flipped from a S$2.9 million (US$2 million) net profit a year ago to a net loss of $2.23 million for its second quarter. This is despite a 7.4 per cent year-on-year rise in revenue to $111.14 million, with Parkson attributing its red…
After closing some of its department stores in Hanoi within a two-year period, Parkson, a retail giant from Malaysia, has officially decided to leave the capital. Parkson Viet Tower on Thai Ha street will close on December 15. Meanwhile, Vincom, just opened…
Sunway Velocity Mall has opened in Cheras, with a catchment of 1.72 million residents including the nearby areas of Ampang and Kuala Lumpur. With a neo-futuristic appearance, the sphere-shaped shopping centre, known as the “KL Orb”, is set to be a landmark on…
The last Hanoi Parkson department store has been closed after eight years of trading. In an announcement to customers released on November 19, the company said the center “will be moved” on December 15. The 11,000 sqm department store located in Viet Tower in…
South-east Asian department store operator Parkson Retail Asia narrowed its fourth quarter net loss by 80 per cent, owing to the absence of costs associated with a store closure a year earlier. Parkson, which does not have stores in Singapore, reported a net…
Two Kuala Lumpur malls, collectively offering more than 2 million sqft (185,806 sqm) in net lettable area, will open in Cheras, Klang Valley, by the end of the year. Moreover, the MyTown Shopping Centre (below picture) and Sunway Velocity Mall (above picture)…
Is there too much retail space in Saigon – downtown Ho Chi Minh City – the commercial hub of Vietnam? With more than 1.1 million sqm of retail space, it looks like the Saigon retail market is oversupplied. The closing of Parkson Paragon in the city’s District…
Parkson Vietnam has closed another of its stores as it continues to struggle to make its business profitable. The Malaysian department store operator has closed the 19,000 sqm District 7 outlet in Ho Chi Minh City, a multi-story department store beneath a…
Giant Cambodia has opened its first store in the kingdom, in Phnom Penh’s Grand City Mall. It is part of a major expansion into Cambodia by the Malaysian wholly owned subsidiary of pan-Asian retailer Dairy Farm International, which also has a 70 per cent…
Despite economic growth cooling, Parkson Retail Group (PRG China) is confident about its shopping mall opening this month in Qingdao. This confidence is underlined by an Asian Development Bank prediction that the Chinese economy will grow 6.5 per cent this…
Parkson Retail Group Ltd (PRG), a unit of Parkson Holdings Bhd, is confident its new shopping mall in Qingdao, China, which opens later this month, will attract strong retail interest, even as rapid economic growth in China cools down. The Asian Development…
Mobile commerce, millennials and faster fulfilment will drive retail innovation this year, according to commercial supply chain specialist Manhattan Associates. It predicts a rapid migration to more personalised shopping, with mCommerce presenting big…
Department store operator Parkson Retail Asia has posted a second quarter net profit of $2.9 million, down 71.6 per cent from the same period a year ago. Revenue in the three months to Dec 31 fell 12 per cent to $103.5 million, driven by a 7.3 per cent fall…
Hit with a 15 per cent sales slump since the introduction of GST in Malaysia, embattled department store operator Parkson is set to enter new categories – gourmet food, supermarkets, beauty – and import new fast fashion brands. The company has invested RM100…
