WILLEMSTAD, Curcacao, Nov. 17, 2014 /PRNewswire/ -- Retail Holdings N.V. (Symbol: RHDGF)
Retail Holdings N.V. (the "Company") announced today that it had opened its first store in Cambodia, in the city of Battambang. Two further stores will open early in 2015 with a planned roll-out to 50 stores. This is the Company's first entry into a new market in several years.
The store will be the largest, with the broadest selection of products in the local market, including a wide range of home appliances, electronics, furniture and selected commercial products for small businesses. Consumer credit and other financial services will be available to qualified customers.
Cambodia has one of the fastest growth rates in the region, which together with the continued development of the economy, represents a significant opportunity for expansion, building on the Company's experience and market leadership in a number of other Asian markets.
About Retail Holdings
Retail Holdings holds three principal assets: 1) a 54.10% equity interest in Sewko/Singer Asia, a distributor of consumer durable products in Bangladesh, India, Pakistan, Sri Lanka, Thailand and now Cambodia, with consumer credit and other financial services; 2) seller notes, arising from the sale of the non-Asian sewing business and Singer trademark in 2004; and 3) cash and cash equivalents. The Company has no operating activities other than those carried out through Sewko/Singer Asia.
Additional financial and other information about the Company may be found at the Corporate/Investor section of the Company's website: www.retailholdings.com. Price quotations for the Company's Shares are available on the "Pink Sheets" quotation service under the symbol "RHDGF".
For further information, please contact Amy Pappas at 1-914-241-3404.
SOURCE Retail Holdings N.V.
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