Carrefour denies store closures in Malaysia, Singapore

8th July 2010, Comments 0 comments

French supermarket giant Carrefour has denied that its stores in Malaysia and Singapore will close following reports that it would shut down its Southeast Asian outlets.

On Tuesday, produce industry website Fruit Net said the supermarket chain planned to sell its interests in Malaysia, Singapore and Thailand in a deal worth up to 1.0 billion dollars.

"Carrefour Malaysia and Singapore denies any store closure in Malaysia and in Singapore, reminding that it is business as usual for every store," the company said in a statement late Wednesday.

"In 2010 itself, four Carrefour hypermarkets have been newly opened in Malaysia and another four additional hypermarkets are slated to be opened by year end."

According to the company's website, it has 22 stores in Malaysia, two in Singapore and 40 in Thailand.

It said Asia accounted for 7.6 percent of its total net sales of 85.96 billion euros (108.25 billion dollars) in 2009, compared to 13.7 percent for Latin America and 35.7 percent for Europe excluding France.

© 2010 AFP

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