DirectD eyes listing on Bursa in five years

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PETALING JAYA: DirectD Retail and Wholesale Sdn Bhd, which sells telecommunication products, aims to be listed on Bursa Malaysia within the next five years, said its chief financial officer Esther Kwan.

“Ultimately, the aim is for us to list the company on the stock exchange in the next five years, or maybe even less, depending on market conditions,” Kwan told The Edge Financial Daily yesterday after the opening the group’s sixth largest outlet in SS15, touted as the country’s largest gadget and mobile phone mega store.

Located off the Federal Highway, the new store occupies 18,000 sq ft of a 2-storey building. The store features some 1,000 types of accessories, and has a service centre, payment counters, credit facilities and telecommunications services.

Kwan said DirectD expects to maintain double-digit sales growth this year, driven by its smartphone business, which forms the bulk of its revenue. Currently, its same-store sales growth stands at 15%.

“Research has shown that smartphone sales continue to break their  own record, chalking up  43% growth in the first quarter of 2014. It also contributes significantly to the sales value of US$4.2 billion (RM15.6 billion) in Southeast Asia. The growth trend in smartphone is also reflective of our business,” Kwan said.

 

This article first appeared in The Edge Financial Daily, on March 31, 2015.