25-04-2014, 09:26 AM
Thakral to diversify Aussie property focus
It will broaden distribution business which posted loss
Published on Apr 25, 2014 1:25 AM
Thakral's residential project, Australia Towers, in Sydney. It said it will start looking at retail, industrial, commercial and hotel property projects too. -- PHOTO: THAKRAL
Mr Inderbethal Singh Thakral, managing director of the company’s distribution business, on plans toexpand in Asia
By Audrey Kang
THAKRAL Corporation is betting big on Australia, unveiling plans yesterday to diversify its residential property holdings Down Under to other types of property.
Singapore Exchange-listed Thakral is also looking to broaden its consumer electronics distribution business, to include health, lifestyle and environment-related products.
The company's investment division recorded profits of $9.6 million last year, helping to offset losses in other areas notably its distribution business.
So far, Thakral has invested in only residential property projects in Australia, but said it will start looking at retail, industrial, commercial and hotel property projects.
At a luncheon in Novotel hotel, Mr Jaginder Singh Pasricha, managing director of Thakral's investments and corporate division, said the company is optimistic about its investments in Australia and will continue to explore new opportunities there.
The Australian housing market has been performing strongly. Last year, house prices in the country rose by 9.48 per cent.
While Thakral's main focus is Australia, Mr Pasricha said the company remains hopeful over investment opportunities in Japan.
Chief financial officer Anil Moolchand Daryanani said its investment division contributed significantly to the company's profit for 2013, in contrast to its distribution division, which suffered a loss.
It is also refocusing its distribution division as a result.
Mr Daryanani said although Thakral has always been focused on electronics distribution, it is going to shift to lifestyle, health and beauty, as well as environment-related products such as air purifiers.
It is looking into distribution of smartphones, wearable technology and fashion, among other product ranges.
Mr Inderbethal Singh Thakral, managing director of the company's distribution business, said: "The main focus for distribution for the next two years will be China and Asia, due to the growing affluence in the region. There has been a change in buying patterns as people get more affluent."
He said the shift in focus aims to meet the demands of what consumers want, especially in health and environment-related products.
audkang@sph.com.sg
Background story
FOCUS ON CHINA, ASIA
The main focus for distribution for the next two years will be China and Asia, due to the growing affluence in the region. There has been a change in buying patterns as people get more affluent.
- Mr Inderbethal Singh Thakral, managing director of the company's distribution business, on plans to expand in Asia
It will broaden distribution business which posted loss
Published on Apr 25, 2014 1:25 AM
Thakral's residential project, Australia Towers, in Sydney. It said it will start looking at retail, industrial, commercial and hotel property projects too. -- PHOTO: THAKRAL
Mr Inderbethal Singh Thakral, managing director of the company’s distribution business, on plans toexpand in Asia
By Audrey Kang
THAKRAL Corporation is betting big on Australia, unveiling plans yesterday to diversify its residential property holdings Down Under to other types of property.
Singapore Exchange-listed Thakral is also looking to broaden its consumer electronics distribution business, to include health, lifestyle and environment-related products.
The company's investment division recorded profits of $9.6 million last year, helping to offset losses in other areas notably its distribution business.
So far, Thakral has invested in only residential property projects in Australia, but said it will start looking at retail, industrial, commercial and hotel property projects.
At a luncheon in Novotel hotel, Mr Jaginder Singh Pasricha, managing director of Thakral's investments and corporate division, said the company is optimistic about its investments in Australia and will continue to explore new opportunities there.
The Australian housing market has been performing strongly. Last year, house prices in the country rose by 9.48 per cent.
While Thakral's main focus is Australia, Mr Pasricha said the company remains hopeful over investment opportunities in Japan.
Chief financial officer Anil Moolchand Daryanani said its investment division contributed significantly to the company's profit for 2013, in contrast to its distribution division, which suffered a loss.
It is also refocusing its distribution division as a result.
Mr Daryanani said although Thakral has always been focused on electronics distribution, it is going to shift to lifestyle, health and beauty, as well as environment-related products such as air purifiers.
It is looking into distribution of smartphones, wearable technology and fashion, among other product ranges.
Mr Inderbethal Singh Thakral, managing director of the company's distribution business, said: "The main focus for distribution for the next two years will be China and Asia, due to the growing affluence in the region. There has been a change in buying patterns as people get more affluent."
He said the shift in focus aims to meet the demands of what consumers want, especially in health and environment-related products.
audkang@sph.com.sg
Background story
FOCUS ON CHINA, ASIA
The main focus for distribution for the next two years will be China and Asia, due to the growing affluence in the region. There has been a change in buying patterns as people get more affluent.
- Mr Inderbethal Singh Thakral, managing director of the company's distribution business, on plans to expand in Asia