Retail trade: Asia Pacific
As of the end of fiscal 2002, we had retail trade operations through our subsidiaries in Thailand, Malaysia and Indonesia.
The following table sets out, for the periods indicated, net sales and store count, for the retail trade operations of our
consolidated subsidiaries in Asia Pacific.
2002 2001 2000
(in EUR millions except store count)
Net sales
Store count
Net sales
Store count
Net sales
Store count
Malaysia (1)
85
40
88
39
88
39
Thailand
336
49
285
44
297
41
Indonesia (1)
37
24
27
21
17
17
Total Asia Pacific
458
113
400
104
402
97
(1) Divested in September 2003.
In 1996, we formed a partnership in Malaysia, with companies of the Kuok Group, of which we held a 60% interest. The
Malaysian partnership, Ahold Kuok Malaysia, acquired the Parkson and Looking Good store chains in 1998. In December
2000, we became 100% owner of our Malaysian operations, which operated 40 stores as of the end of fiscal 2002.
Early in 1997, we entered into a partnership in Thailand with the Central Robinson Group, CRC Ahold Co. Ltd. ("CRC
Ahold Thailand"), of which we owned 49%. In 1998, we acquired 100% ownership of the partnership, subject to
repurchase options of up to 50% of the outstanding shares granted to the Central Robinson Group. As of the end of fiscal
2002, CRC Ahold Thailand operated 49 stores in Thailand.
In July 1997, we entered into a technical assistance agreement with the PSP Group in Indonesia in connection with the
potential development of a supermarket chain in that country. We acquired 70% of the PSP Group at that time and
acquired the remaining shares in September 2002. As of the end of fiscal 2002, the PSP Group operated 24 stores in
Indonesia.
As of the end of fiscal 2002, we operated 113 retail stores in Asia Pacific. In 2002, we also began a small operation in
Thailand delivering dry groceries to third-party retailers, primarily gas stations and convenience stores. In April 2003, we
announced that we had reached an agreement for the sale of our Indonesian operations to Hero, which was completed in
September 2003. In May 2003, we announced that we had reached an agreement for the sale of our Malaysian operations
to Dairy Farm Giant Retail Sdn Bhd, a subsidiary of Dairy Farm International Holdings Limited, and the transfer of assets
was completed in September 2003. For additional information, please see "Divestments" above and our financial
statements.
The following table sets out the net sales of our retail trade operations in the Asia Pacific segment for fiscal 2002, fiscal
2001 and fiscal 2000:
Fiscal 2002 Fiscal 2001 Fiscal 2000
EUR Change EUR Change EUR
(in EUR millions, except percentages) (restated) (restated)
Malaysia 85 34) 88 0 88
Thailand 336 17.9 285 (4.0) 297
Indonesia 37 37,0 27 58.8 17
Total Asia Pacific 458 Ï4J5 400 (05) 402
- Fiscal 2002
Net sales in the Asia Pacific retail trade segment increased by EUR 58 million, or 14.5%, to EUR 458 million in fiscal
2002 compared to fiscal 2001. Economic developments differed among countries in the Asia Pacific retail trade segment,
but, overall, development was positive compared to the prior year. The net sales growth in the Asia Pacific retail trade
segment came primarily from Thailand, which started wholesale activities in the second half of fiscal 2002. Retail
activities in Thailand, which constituted approximately 73% of our retail sales in the Asia Pacific segment in fiscal 2002,
experienced stagnation in terms of net sales caused by strong competition in the Bangkok area. Net sales in Thailand
increased by EUR 51 million, or 17.9%, to EUR 336 million in fiscal 2002 compared to fiscal 2001. In fiscal 2002,
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