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Due to high rental and high electricity and water bills, Cold Storage forced to sell their businesses to Jiuhu company.

C

ChenShuang

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DFI Retail Group sells Singapore food business, including Cold Storage and Giant, for S$125 million to Macrovalue​

The purchaser is South-east Asian retail conglomerate Macrovalue (Malaysia)

Crystal Heng

Crystal Heng​

Published Mon, Mar 24, 2025 · 01:00 PM
DFI Retail Group
 
How come Singapore never implement 3 quarter tank rule to protect Singapore grocery chains

All Cold Storage, Giant outlets in S’pore to be sold to Malaysia group for $125m​

A total of 11 Giant outlets closed in 2024, while five new stores under DFI’s stable of supermarket brands opened during the year.
 
SINGAPORE - All Cold Storage and Giant supermarket outlets located in Singapore will be sold to Malaysian retail group Macrovalue for an initial price of $125 million.

Current owner DFI Retail Group and Macrovalue both said on March 24 that the deal covers all 48 Cold Storage stores here - including those under the CS Fresh, CS Gold, and Jason’s Deli brands - and 41 Giant outlets, as well as two distribution centres.

The transaction is expected to complete in the second half of 2025, with Macrovalue acquiring a 100 per cent of the businesses.
 
Singapore-listed DFI will turn its focus towards its Guardian Pharmacy and 7-Eleven convenience businesses here and in the region.

Besides Singapore, DFI has a presence in other markets such as Thailand, Hong Kong and the Phillippines.

Macrovalue, on the other hand, already owns the Cold Storage and Giant operations in Malaysia, having bought over Malaysia-based GCH Retail Group in 2023, which operated the supermarket brands there previously.
 
By bringing the Singapore counterpart under its fold, Macrovalue can “enhance operational efficiencies, optimize regional supply chain capabilities and elevate the overall customer experience”, said co-owner Andrew Lim.


“We will ensure the continuity of local management and operational teams to continuously improve the quality of service for... customers,” he said.

“As new shareholders, Macrovalue’s existing operations in Malaysia will also be able to support Cold Storage’s operations in Singapore across supply chain and procurement to help improve range and value for our customers.”
 
Owing to high rental and cost of living, more foreigners will be priced out of S'pore and be forced to go elsewhere. However, CECAs are unlikely to want to shift back to their filthy shit hole home.
 
That is why i move to Malaysia. Cold storage is the best supermarket in sg and is sold to a Malaysian company, will it maintain the good supermarket standard. If that is not the case , then Malaysia's Jaya Grocer is my best supermarket liao.
 
tobelightlight said:
That is why i move to Malaysia. Cold storage is the best supermarket in sg and is sold to a Malaysian company, will it maintain the good supermarket standard. If that is not the case , then Malaysia's Jaya Grocer is my best supermarket liao.
Click to expand...
Mount Elizabeth and Gleneagles Hospitals were the pride of S'pore, but were sold to Khazanah Nasional Bhd which is Malaysia's sovereign wealth fund.
 
ChenShuang said:
Macrovalue, on the other hand, already owns the Cold Storage and Giant operations in Malaysia, having bought over Malaysia-based GCH Retail Group in 2023, which operated the supermarket brands there previously.
Click to expand...
Then ok lah. i been to cold storage in jb too and it is same as in sg.
 
tobelightlight said:
That is why i move to Malaysia. Cold storage is the best supermarket in sg and is sold to a Malaysian company, will it maintain the good supermarket standard. If that is not the case , then Malaysia's Jaya Grocer is my best supermarket liao.
Click to expand...
Jaya grocery is atas
 
my question is if the current business owner cannot pay the high rental and electrical bill in Sg, what makes the new owner capable of paying it?

This part i do not understand.

In addition to it, they have to pay 125 million to acquire it.
 
All the angmohs are withdrawing from the east. Like surrender to china.
 
tobelightlight said:
my question is if the current business owner cannot pay the high rental and electrical bill in Sg, what makes the new owner capable of paying it?

This part i do not understand.

In addition to it, they have to pay 125 million to acquire it.
Click to expand...
Maybe Cold Storage slashed their price
 
tobelightlight said:
That is why i move to Malaysia. Cold storage is the best supermarket in sg and is sold to a Malaysian company, will it maintain the good supermarket standard. If that is not the case , then Malaysia's Jaya Grocer is my best supermarket liao.
Click to expand...
Jaya Supermarket is wholly owned by Singapore based GRAB✊
 
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