“We are positive about OldTown’s sales channel distribution, which is focused on e-commerce in China. About 80% of its China sales are derived through these virtual stores. It noted OldTown had registered higher-than-expected FMCG export sales that grew 35% y-o-y, buoyed by strong growth in China. China (45% of total FMCG sales) has now eclipsed Malaysia (35%) as the FMCG segment’s biggest sales contributor. OldTown shares climbed 18 sen or 8.9% to RM2.21 yesterday, valuing it at RM997.7 million.

Source: The Edge Markets February 24, 2017 03:11 UTC