Carrefour Malaysia, Singapore deny exit report

CARREFOUR Malaysia and Singapore said yesterday that it is business as usual for all its stores here and in the republic.

Denying any store closure in Malaysia and in Singapore, the hypermarket said four Carrefour outlets opened for business in Malaysia this year and another four hypermarkets were slated to open by year-end,” Carrefour said in a statement in response to recent reports about the French retail giant's operations in Malaysia, Singapore and Thailand.

Recent reports said Carrefour was in early stages of selling its units in Malaysia, Thailand and Singapore, which could raise up to US$1 billion and planned on shutting down its operations in these three countries. — Bernama


- by Business Times