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  • STI Straits Times Index
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    -10.8 (-0.43%)
     
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Reenova Investment^0.003+0.001
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Nasdaq 9,412.4 +72.1
HSI 23,301.4 -83.3
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Jakarta 4,641.6 +14.8
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SSE Comp 2,836.8 -9.7
Shanghai A 2,973.3 -10.2
Shanghai B 207.0 -1.1
KOSPI 2,031.2 +1.4

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News - Detailed News Story

EC World Reit bullish on e-commerce

10 Sep 2019 09:00

By NAVIN SREGANTAN

WHILE the rest of the world frets about trade wars and a China slowdown, the chief executive of EC World Reit's manager remains calmly bullish about e-commerce in Asia's largest economy.

"If the economic growth slows, more consumers are likely to pivot to e-commerce purchases as it offers better value for money," says Goh Toh Sim, executive director and CEO of the manager of EC World Reit. "Moreover, the consumption of domestic products and services has been growing steadily."

That confidence is perhaps necessary for Mr Goh, who leads a property trust that maintains a portfolio of mostly logistics-related assets in China.

In June, the manager added an eighth property to its stable of logistics facilities when it acquired Fuzhou E-Commerce for 1.11 billion yuan (S$223.6 million) from its sponsor, Shanghai-headquartered conglomerate Forchn Holdings Group.


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Source: Business Times
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