Singapore electronics and furniture retailer Courts Asia is planning further overseas expansion after its latest year’s profit grew to S$41.4 million (US$32.7 million).
“We have seen a positive topline momentum driven by initiatives that we’ve taken, from broad promotional activities to enhanced product mix and ranges,” said CEO Terence Donald O’Connor.
He said Courts Asia will expand to Indonesia with a big-box store to open in Jakarta in 2014.
“Retail (sales) momentum in the country bodes well for our foray into the market. One of the fastest growing economies in the region, Indonesia is seeing a consumer-led economic boom propelled by a growing middle-class,” the company said in a statement.
It will also target the Philippines and Vietnam.
Courts Asia currently operates 72 stores in Singapore and Malaysia. Two more stores are in the pipeline in Singapore for this year and a big-box mega store is slated for opening in Malaysia in August.