The owner of popular British supermarket chain, Tesco, is looking into a possible sale of its operation in Malaysia and Thailand. This came after a statement made on Sunday (8th December 2019), where they revealed that a review was done on its operations in the two markets.
According to Reuters, the trigger for the review was due to a reported “inbound interest” that seems interested in Tesco’s operation in Malaysia and Thailand. However, no information has been given by the company over where the interest is from.
Currently, 30% of the Tesco Malaysia is owned by Sime Darby, which operates the Tesco supermarkets in major cities. However, Sime Darby group is recently looking into trimming its operation on what they considered non-core assets, with the supermarket chain being one of those assets.
Supermarket-goers have nothing to worry about at the moment, as talks of the sale is still in its early stages with no decision being made just yet. Tesco has also ensured customer that an announcement will be made if they decide to move forward with the sale.
“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,” the company said.
So are you a regular at Tesco? If so, do you have a fond memory you like to share about the supermarket chain? Let us know about it in the comments section below.
Source: Free Malaysia Today.
