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.