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Malaysia: Higher tax rate damper for Supermax

PETALING JAYA: CIMB Equities Research has cut Supermax Corp’s financial year (FY) 2018-2019 (forecast) estimates by 10.8% to 14.3% to account for a higher tax rate and higher operating expenses, especially in the contact lens segment. The research firm said its “hold” call remains but its target price was lowered to RM1.74, still based on […]

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Indonesia: Retail Association Exlpains Closing of Ramayana Supermarkets

TEMPO.CO, Jakarta – The Indonesian Retailers Associations (Aprindo) deputy chairman Tutum Rahanata has confirmed the reports on the shutting down of Ramayana supermarkets. Tutum was told that Ramayana closed its supermarkets for layout and formatting changes. “Whether the closing was due to loss or not it cannot be confirmed yet,” he said Thursday, August 31. Tutum said that he […]

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Philippines: Ayala Corp completes Zalora purchase

LISTED conglomerate Ayala Corp. announced on Thursday it has completed the acquisition of a significant stake in BF Jade E-Services, Inc., which owns the online fashion retailer Zalora. Ayala Corp. said it has acquired over 269 million shares, equivalent to a 43.28 percent stake in BF Jade, while Ayala Land Inc. (ALI) in a separate […]

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