Malaysia's Lion to invest $2.7b

Malaysia's Lion to invest $2.7b

KUALA LUMPUR: Malaysian conglomerate Lion group plans to invest US$2.7 billion in the next decade to expand its businesses, with a large chunk going to China to tap the world's largest consumer market, a report said on Tuesday.

Chairman William Cheng was quoted by The Star newspaper as saying the group would allocate $1.5 billion to grow its Parkson departmental store chain in China, with targets to open an average six to eight outlets a year.

He said another $1.2 billion would be invested in Malaysia, Vietnam and Mexico in the next decade. -- AFP