Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Metro supermarkets close after five-year decline

  • The Jakarta Post

Jakarta   /   Mon, March 31 2008   /  12:12 am

PT Metro Supermarket Realty Tbk (MTSM) has closed down its trading business due to a steady decline in customers over the last five years, a company official said Saturday. "The supermarket business has been really slow in the last five years due to a decrease in the number of consumers," MTSM director Arief Amin said in a report to the Indonesia Stock Exchange on Friday. Arief said the situation had hurt the company's net income, making it impossible for the company to cover its operational costs. "This is why we closed down our supermarkets." MTSM has three divisions, real estate, property management and supermarkets. In a public disclosure on Dec. 10, 2007, MTSM's management said last year's profit had fallen short of expectations due to sky-rocketing oil and fuel prices and an increase in natural disasters, all of which had influenced con...