The Jakarta Post
Encouraged by Indonesia’s strong economic growth and a rising middle class, Malaysian retailer Parkson Retail Group is planning to establish a foothold in the country by investing US$15 million to open five new stores next year, a company executive says. “We are very bullish about the Indonesian market as the political stability has provided a fantastic foundation for the growth of the private sector, “ Parkson Retail Group’s managing director, Datuk Alfred Cheng, told The Jakarta Post on Wednesday.
“Indonesia has been the most attractive country for investors as consumers’ purchasing power has been growing very quickly,” he added.
Parkson has a total of 108 stores spread across Malaysia, China and Vietnam. In September 2013, Parkson will open its first store in Indonesia, which will be located in The St. Moritz within the Puri CBD in West Jakarta.