BRITISH INTERNATIONAL SCHOOL, PHUKET
Oak Maedow Phuket BRITISH INTERNATIONAL SCHOOL, PHUKET Kata Rocks
The Phuket News Novosti Phuket Khao Phuket

Login | Create Account | Search


Tesco reviews options to sell operations in Thailand, Malaysia

Tesco reviews options to sell operations in Thailand, Malaysia

PHUKET: British retail giant Tesco has begun reviewing its operations in Thailand and Malaysia with a view to possible sale to an “investor interest”.

economics
By The Phuket News

Monday 9 December 2019, 09:07AM


The main Tesco-Lotus branch on Phukte's busy bypass road. Photo: The Phuket News / file

The main Tesco-Lotus branch on Phukte's busy bypass road. Photo: The Phuket News / file

The news was announced through a statement issued yesterday. (See here.)

“Tesco PLC (Tesco) confirms that, following inbound interest, it has commenced a review of the strategic options for its businesses in Thailand and Malaysia, including an evaluation of a possible sale of these businesses,” the statement read.

“The evaluation of strategic options is at an early stage, no decisions concerning the future of Tesco Thailand or Malaysia have been taken, and there can be no assurance that any transaction will be concluded. A further announcement will be made if and when appropriate,” it added.

Tesco in Thailand is operated under the merger name “Tesco-Lotus” through Ek-Chai Distribution System Co Ltd.

Tesco Lotus serves more than 15 million customers each week through a network of more than 2,000 stores served by more than 60,000 employees around Thailand, and through its and online shopping channels.

tile-it - Phuket’s Quality Tile Boutique

Ek-Chai Distribution CEO John Christie explained at a British Chamber of Commerce in Thailand (BCCT) event in Phuket in 2017 that over the preceding five years Tesco had undergone a fundamental change from a UK-based global business to a local business originating from the UK.

“In Asia, Thailand is at the centre of where Tesco global wants to invest,” Mr Christie noted, highlighting the Kingdom’s role for Tesco’s overseas operations. (See story here.)

 

 

 

Comment on this story

* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.

CAPTCHA

Be the first to comment.

 

Have a news tip-off? Click here

 

Phuket community
Video shows cameras being removed from shootout gambling den

Oh yeah..."The commissioner said if police had solid evidence that the place operated as a casi...(Read More)


Four Points by Sheraton opens 600-room resort in Patong

Agreed. Horrible timing for such a huge and massive resort to show up on the market. Smaller guestho...(Read More)


More stranded Russians fly home from Phuket

Suvarnabhumi's website reports quite a lot of actual international arrivals and departures, incl...(Read More)


‘Safe and Sealed’ brings hope for tourism revival

another dose of wishful thinking, who on earth would pay twice the price to be herded to third rate ...(Read More)


Dual prices on agenda

SEC2, a electric- and water bill not show or you are Thai or Foreigner. It even can be a bill from ...(Read More)


Search resumes for missing people from sunken ferry

Where is the 3rd lorry, with another 45 tons of garbage blocks ? Were the lorries not secured to th...(Read More)


Patong workers file complaint over unpaid salary, no social security payments

How is this unacceptable employers behaviour possible on Phuket? A shameful situation. Phuket Provin...(Read More)


Dual prices on agenda

When you see the photo., it is plain thick skin racism/discriminatory/ anti foreign tourist. Time fo...(Read More)


Investigation into capsized ferry as 1 confirmed dead, 4 still missing

@BigA, a tanker ship with all tanks secured/closed, has always reserve buoyancy, no matter how littl...(Read More)


More stranded Russians fly home from Phuket

CaptainJack69, normal foreigners still not allowed to fly in. These repatriation flights are probab...(Read More)