What percentage of Wuxi Sanyang Parkson Plaza Co Ltd is owned by Parkson Retail Group?

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Parkson Retail Group Holds 60 Per Cent Stake in Wuxi Sanyang Parkson Plaza Co Ltd

Parkson Retail Group Ltd, through its indirect Chinese unit, holds a 60 per cent ownership in Wuxi Sanyang Parkson Plaza Co Ltd (WSPP). This stake facilitates WSPP's operations as a department store tenant in the acquired property.
WSPP Acquires Property in Wuxi

Wuxi Sanyang Parkson Plaza Co Ltd (WSPP), a subsidiary in which Parkson Retail Group Ltd (PRGL) has a 60 per cent interest, has successfully acquired a portion of a property in Wuxi, China. The acquisition was made through a judicial auction following the bankruptcy of Sanyang Yinhui Properties Development Co Ltd (SYPD).
Property Utilised as Department Store Since 2008

The acquired property, located at 121 Renmin Zhong Road, Liangxi District, Wuxi, has been utilised by WSPP as a department store since 2008. WSPP had been a tenant of the first to fifth floors of this building prior to its successful bid in the auction.
Strategic Implications for Parkson Retail Group

PRGL stated that this acquisition is expected to offer flexibility for the group's future business development and expansion strategies. It also serves to mitigate potential risks associated with future increases in rental expenses.
Financial Impact on Earnings

The financial implications of this property acquisition are not expected to have a material impact on PRGL's earnings for the financial year ending June 30, 2018. Parkson Holdings Bhd is the parent company, holding a 54.97 per cent stake in PRGL.

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What percentage of Wuxi Sanyang Parkson Plaza Co Ltd is owned by Parkson Retail Group?

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