Go Shop will stop operating on Oct 11, part of Astro's realignment strategy
Firdaus Azil
October 2, 2023
Astro Malaysia Holdings Bhd said the strategic decision was made after looking at the challenging economic landscape and changes in consumer shopping behavior as a whole.
Go Shop will stop operating on Oct 11, part of Astro's realignment strategy
Astro Malaysia Holdings Bhd said the strategic decision was made after looking at the challenging economic landscape and changes in consumer shopping behavior as a whole.
KUALA LUMPUR: The operator of Go Shop, Astro GS Shop Sdn Bhd (AGSS), will completely stop their business operations on October 11.
Astro Malaysia Holdings Bhd (AMH) in a statement today said the strategic decision was made after looking at the challenging economic landscape and changes in consumer shopping behavior as a whole.
In addition, he said, it is also part of the realignment strategy that Astro is currently carrying out, including the implementation of key cost-saving measures.
"The decline in the home shopping business has been significant since the pandemic and its closure will ensure that resources are focused on businesses that can make the biggest difference to overall operations.
"Go Shop is not considered a material subsidiary of AMH and is not expected to have a material impact on total consolidated earnings per share, net assets per share or in preparation for the financial year ending 2024," according to the statement.
Astro GS Shop Sdn Bhd, a subsidiary of AMH through Astro Retail Ventures Sdn Bhd (ARV), and its joint venture partner from Korea, GS Retail Co Ltd (GSR), each holding a 60-40 equity interest.
In the same statement, Go Shop thanked all its customers and partners for their support over the past few years.
"We would also like to thank the Go Shop team for their passion and dedication to this brand over the years," according to the statement.
