PADINI (7052) : Padini will not raise prices for existing products post GST
KUALA LUMPUR (Dec 12): The upcoming goods and services tax (GST) come April 1, 2015 will not result in Padini Holdings Bhd raising its prices for its existing products, says its executive director Chan Kwai Heng.
"We might only tweak prices for our new products, " he told reporters after the AGM today.
He said consumers tend to be "psychologically affected "by GST which then affects their consumption patterns,however he said the situation is temporary.
"Personally I feel that this psychological affect due to the gst should subside come Christmas next year," said Chan.
He added that he believes the retail sector would remain vibrant as there are still many shopping malls still being built in the country.
http://www.theedgemarkets.com
KUALA LUMPUR (Dec 12): The upcoming goods and services tax (GST) come April 1, 2015 will not result in Padini Holdings Bhd raising its prices for its existing products, says its executive director Chan Kwai Heng.
"We might only tweak prices for our new products, " he told reporters after the AGM today.
He said consumers tend to be "psychologically affected "by GST which then affects their consumption patterns,however he said the situation is temporary.
"Personally I feel that this psychological affect due to the gst should subside come Christmas next year," said Chan.
He added that he believes the retail sector would remain vibrant as there are still many shopping malls still being built in the country.
http://www.theedgemarkets.com
