Thursday, January 6, 2011

Poh Kong to invest between RM9m to RM15m for 3 new stores

KUALA LUMPUR: POH KONG HOLDINGS BHD [] (PKHB), the country's largest jewellery retail chain store, will open three new outlets this year to bring its total to 100 outlets nationwide.

Its executive chairman and group managing director Datuk Eddie Choon said the group would invest between RM3 million and RM5 million for each of the three new outlets, adding the first outlet for 2011 was expected to be opened within this quarter.

'We will have one outlet in Nilai while we are finalising the location of the other two outlets,' he told a press conference after the AGM on Thursday, Jan 6.

Choon said gold jewellery would continue to be the main revenue contributor while the group also stepped up sales of diamonds and gems through its products.

PKHB posted net profit of RM32.51 million on the back of a revenue of RM561.24 million in FY10.

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