<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on September 26, 2017</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Ho Wah Genting Bhd (HWGB) is teaming up with Switzerland’s Dufry Group to jointly operate a duty-free shop in SkyAvenue mall at the Genting Highlands Resort, Pahang.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia yesterday, HWGB said it had entered into a shareholders agreement with Dufry International AG, a member of Dufry Group, to incorporate a joint-venture (JV) company for the operation of the duty-free shop. HWGB will hold a 49% stake in the JV company, while Dufry will own the remaining 51% stake.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>HWGB said through the JV company, it will have the opportunity to tap into Dufry Group’s strength in the travel retail business and to expand into the travel retail business in Genting Highlands Resort.</p></div>

<div class=newsTextDataWrapInner><p>“The expansion will enable the HWGB group to share the operating results after tax of the JV company and is expected to contribute positively to the group’s result in the long term,” it added.</p></div>

<div class=newsTextDataWrapInner><p>The JV company will have an initial paid-up capital of US$500,000 (RM2.1 billion).<br />
&nbsp;</p></div>


KUALA LUMPUR: Ho Wah Genting Bhd (HWGB) is teaming up with Switzerland’s Dufry Group to jointly operate a duty-free shop in SkyAvenue mall at the Genting Highlands Resort, Pahang.

In a filing with Bursa Malaysia yesterday, HWGB said it had entered into a shareholders agreement with Dufr...

Ho Wah Genting, Dufry to start duty-free shop in Genting Highlands

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