Carrefour Ready to Leave Southeast Asia

Reportedly, Carrefour plans to release its supermarket business is spread in Thailand, Malaysia and Singapore for failing to achieve a dominant position.

As quoted from the Thailand Business News, October 3, 2010, analysts said, Carrefour's difficult to compete with Tesco, the UK supermarket franchise in gaining market share. Carrefour itself has 43 stores in Thailand, 23 in Malaysia and two stores in Singapore.

Supermarket Sector in Asia alone is worth U.S. $ 389 billion in 2009. While analysts Euromonitor International estimates the business growth to reach 3.3 percent by the year 2014. The global supermarket business growth at 2.1 percent.

Currently, Thailand has been stuffed by several players internaional than Tesco. They are the Aeon of Japan and French retailer Casino.

Meanwhile, local companies also includes a great player. For example, Central Group, which is a consumer goods company and manufacturing company owned by Berli Jucker PCL, and majority owned by state-owned energy company, PTT.

According to Kim Eng Securities Chowvikran Mayuree strategy, Berli Jucker PCL and Casino likely to be a major bidder in Thailand. Singapore may be a smaller market but have a prosperous population, including a large expatriate community.

While the market for Malaysian, Malaysian Trade Minister said the other hypermarket companies have expressed interest to take over Carrefour Malaysia.

Mentioned, Chairul Tanjung is also planning to buy ownership of Carrefour Malaysia and Singapore. The Group Chief Executive Officer, said today his company signed the purchase tender list.

According Chairul, shares are offered to 100 percent. Currently Chairul through the flag of the Group controls about 40 per cent of PT Carrefour Indonesia.

If finally win, Chairul Malaysian company would hold in order to work together to manage Carrefour by forming joint ventures.

Carrefour's business in Malaysia and Singapore is currently estimated to be worth U.S. $ 350 million to U.S. $ 400 million. Giant hypermarkets this world decide to sell their business in Southeast Asia because they want more focus on developing business in India and China, which regarded the prospect of a larger market. Indonesia Today

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