Parkson's HK unit enters property development JV

KUALA LUMPUR: Parkson Holdings Bhd's Hong Kong-listed unit, Parkson Retail Group Ltd, has announced a collaboration to locate suitable land resources within Jiaxing City in Zhejiang, China, for the development of properties.

Parkson said in a filing with Bursa Malaysia that its 54.97%-owned Hong Kong arm, had via its indirect subsidiary Shanghai Shengrui Commercial Management Co Ltd, teamed up wtih Hongxiang Real Estate Co Ltd to form the joint venture.