Sa Sa International (00178) said it has decided to rationalise its business by closing all stores in Taiwan to concentrate its resources on mainland China, Hong Kong, Macau, Singapore and Malaysia markets as well as its e-commerce business.
It is expected that the stores in Taiwan will be closed on 31 March.
The Group's performance in Taiwan has recorded losses for six consecutive years and has been persistently weak. While the closure of all the stores in Taiwan will result in a loss, it will not have a significant adverse effect on the Group's financial performance and operations as the Taiwan market only accounts for a small portion of the Group's turnover (2.5% for the six months ended 30 September 2017).
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