ex reg

I see they are pulling out of Malaysia.

Not that they are very good there.

Aeon must be laughing.

ajw

Really? Haven't heard anything about this. Bit odd as Malaysia is one of their few profitable overseas businesses.

Carrefour recently pulled out, its stores purchased by Aeon.

ex reg

On Bloomberg earlier on.

Big losses everywhere.

kennyboy33

can't find anything about a Tesco pullout from Malaysia

JC3

Hi,

If Bloomberg says Tesco is pulling out of Malaysia, I think they are mistaken. Can you provide a link to the story?

According to Tesco's Strategic Update yesterday (2nd October):

Our focus on disciplined international growth has seen us further reduce our capital investment overseas, with a greater proportion allocated to those markets which offer us significant growth potential and the opportunity to deliver strong returns, such as Korea, Malaysia and Thailand.

That sounds like the opposite of a Malaysia pull-out to me!

JC3

bakedbean

Bit strange as they've built the big Tesco near straits quay. That seems to be doing a whole lot better than rivals Cold Storage. Even got a few reasonably priced bottles of wine in there now

ex reg

I don't think any wine sold in Malaysia or Singapore can be called 'reasonably priced'.

Anyway it's what I saw on Bloomberg and we'll all have to wait and see.

For us when we are in Malaysia we always look in Tesco but end up buying from Aeon.

geedee

I wish "Tescos" would either buck up or buck off! The store at Bukit Indah (?) is rubbish.

bakedbean

Yes I should've said Reasonably priced, comparatively speaking

Have to say I am warming to Tesco. I used to prefer Cold storage but that's gone totally downhill. Tesco has a good selection of fruits and veggies usually and a lot of produce is cheaper than cold storage.

JC3

Here's Laurie McIlwee, Chief Financial Officer at Tesco Plc, being interviewed by Bloomberg yesterday:

www.bloomberg.com/video/
tesco-cfo-says-central-europe-
hurting-earnings-kCz77hCfSdyRAt6defFvLA.htm

Towards the end of the video he says Tesco has a leading position in Malaysia, and that Tesco has created a great business in Asia.

There's no mention of Tesco pulling out of Malaysia.
What exactly did you see, and where? Are you sure it was on Bloomberg?

JC3

Bluenose1

They also opened a big store in Cheng last year. Must say, having listened to the Laurie McIlwee video, I don't get the impression they are looking to move out of Malaysia any time soon! Mind you when he was actually asked if Tesco were going to pull out of any other country after the USA, he was quite evasive in his answer!

kennyboy33

ex reg..what says they are leaving M'sia?

roystevenung

And you gotta love the free parking, shaded too

bakedbean

Just got a flyer in our postbox today for Tesco home deliveries so......presumably.....they are not pulling out? ExReg...any more info?

ex reg

I refer my hourable friend to the answers I have given above.