KUALA LUMPUR (Jan 22): Country Garden Real Estate Sdn Bhd (Country Garden Malaysia) said the recent integration of its organisational structure, which resulted in some job cuts, will help the company strengthen management control, improve efficiency and enhance operations. “This is not a peculiar phenomenon in the real estate industry. Country Garden Malaysia, a subsidiary of Hong Kong-listed Country Garden Holdings Co Ltd, was responding to a news report in theedgemarkets.com yesterday which said the company had laid off hundreds of staff since December 2019 as a result of the restructuring exercise. In its statement today, Country Garden Malaysia said that during the integration process, the company identified the need to manage overlapping skills and talents. Country Garden Malaysia said Forest City, as a key development project of the Malaysia-Singapore Region, will focus on building industrial capabilities.

Source: The Edge Markets January 22, 2020 12:33 UTC