PETALING JAYA: The Teng family, best known as the founders of the Giant retail chain from which they divested in 1999, will continue to manage and majority-own the Jaya Grocer high-end supermarket retail chain.
Retail industry officials said that the Teng family will continue to hold 55% of Jaya Grocer, while a private equity fund, the Asean Industrial Growth Fund (AIGF), will own the remaining 45% stake.
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