Kata Rocks
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.

Dan About Thailand

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
Ex-policeman faces action for departure gate outburst

Another brainless idiot, who during his time with (R)TP probably bought his Major rank. Good exampl...(Read More)


Ex-policeman faces action for departure gate outburst

Standard temper tantrum with complete absence of self-control... acting like a spoiled, ill-mannered...(Read More)


Ex-policeman faces action for departure gate outburst

Doesn't matter if he paid or not- until people are prosecuted for this sort of bahviour the '...(Read More)


Selected Phuket restrictions eased in efforts to return to normality

Usual negativity from Thailand haters - flights resume soon chaps so you can head home - personally ...(Read More)


Deputy AG who dropped ‘Boss’ charge a no-show at hearing

What a cluster #^$&. Wouldn't be surprised to find that all these players were probably com...(Read More)


Missing Brit found safe

I was thinking no Tourist can entry Thailand ?...(Read More)


Missing Brit found safe

If he would be a local Taxi driver and have killed somebody he would already be free. ...(Read More)


Deputy AG who dropped ‘Boss’ charge a no-show at hearing

When a Deputy AG 'gives' a no show for a hearing, expressing his dis-respect for the Thai La...(Read More)


Rally rivals set to face off

There we go again. All these rally happenings, also in cities north of Bangkok, only can backfire on...(Read More)