Finance Malaysia Blogspot: The popular "POPULAR" Bookstore Chain was SOLD?

In the ever-evolving landscape of the retail industry, it is not uncommon for established businesses to face difficult decisions and changes.

Recently, rumors (until there is an official announcement from the company itself) have been circulating about the potential sale of one of the largest bookstore chains in the country.

I believe that the majority of us would have heard about this popular brand ~ POPULAR Bookstore.

Sold for How Much? 💰💰💰

The Popular bookstore chain has been acquired by a Hong Kong investment company for an undisclosed sum, Chinese newspaper Lianhe Zaobao reported on Thursday.

The report said Hong Kong-headquartered ZQ Capital has acquired Popular Holdings. Popular Holdings’ businesses include the Popular and other bookstore chains in Singapore, Malaysia, China and the United States.

Why sell the company? It was reported that this was due to the planned retirement of its Group CEO Chou Cheng Ngok, who is the son of the late company's founder.

Mr. Chou Cheng Ngok

About POPULAR (and in Malaysia)

POPULAR’s history started in Singapore under the trade name of Cheng Hing Company. It distributed Chinese storybooks and pictures. Cheng Hing Company was merged into the World Book Company in 1935.
In 1984, the first Popular Bookstore was opened in Kuala Lumpur, Malaysia. Today, it has become a household name in Malaysia and has now grown to more than 75 stores nationwide.
In 1997, Popular Holdings Limited (“POPULAR”) was listed on the main board of The Singapore Exchange.
In 2004, POPULAR made inroads into the book industry in China by establishing a joint venture Popular Modern Books Company Limited with the previous China National Publishing Industry Trading Corporation. POPULAR is currently the single largest Chinese book exporter in China.
In 2015, POPULAR Holdings Ltd was delisted from The Singapore Exchange on 5 May 2015.
In 2023, POPULAR was being sold to ZQ Capital? 💬💬💬

Who is ZQ Capital?

According to ZQ Capital’s website, the firm’s investment strategy “focuses on generating alpha that are least susceptible to market volatility and disruptive emerging business models”.

Established in 2016, ZQ Capital is one of the fastest-growing investment firms in Asia. With unique investment strategies, the firm has a strong track record of delivering consistent returns to investors.

The firm employs a fundamentally driven approach to source and invest in market leaders which are beneficiaries of long-term macroeconomic trends in China.

ZQ Capital has offices in Hong Kong, Shanghai, and Singapore and is a regulated entity under Hong Kong SFC with license type 1, 4, 6 and 9.

~ End ~

Source: