Parkson’s Cambodia expansion seen boosting earnings in the long term
PETALING JAYA: Parkson Holdings Bhd (PHB)’s expansion into Phnom Penh, Cambodia, via its proposed Parkson Mallwould provide it with a steady income stream in the long term, mainly from rental yield, according to Affin Investment Bank.
The proposed location of the mall – directly opposite the Phnom Penh International Airport – would allow it easy access to surrounding international brand car showrooms and infrastructure facilities, said Affin.
PHB unit True Excel Investments (Cambodia) Co Ltd has entered into a conditional option agreement as well as a sale and purchase agreement with PPSW Development Co Ltd (PPSW), in which True Excel may lease two floors in the mall for 50 years at an indicative refundable deposit of about RM138.6mil and purchase six floors for an indicative purchase price of RM247.8mil. ...
PHB is also to lease to Parkson Cambodia the anchor tenant space at the second and third floors of the mall for a rental rate of US$778,000 (RM2.53mil) per month. ...
