Malaysian group acquires border business

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Penang-based Atlan Holdings has branched out from its core business of making metal gift products to acquire a duty-free operation on the Malaysia-Thailand border, as first announced to the Kuala Lumpur Stock Exchange (TRW 05/09/02)

The 38,000sq ft (sq m) shop forms part of a larger shopping complex and is located in Padang Desar in the northern Malaysian state of Perlis. The full range of duty-free products is on offer, including liquor, tobacco, fashion, food and electronics, said a spokesman. Previously owned by a private company, Atlan - publicly listed in Malaysia since 1996 - now holds the concession on an open-ended basis. This new venture was expected to generate 75% of the company's future profits, chairman Dato Seri George Lim said last week.