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Asiatravel to expand into China
Asiatravel.com Holdings Ltd announced during its 3Q results announcement that it is expanding in China. It reported a 1.9% lower revenue year-on-year at $22.2 million while it narrowed its PATMI loss to $2.1 million for the quarter. Since last quarter, Asiatravel has focused on turning around its business in Southeast Asia and Middle East. It has also been spending substantial resources and management time to set up a China Operation Centre in Beijing. This will be operational in Sep 2015. It is working with 2 substantial China shareholders on this expansion plan. The plan includes fundraising and M&A activity. The objective is to position it as a fully integrated China online domestic, international outbound and inbound player.
GET TO THE POINT : It takes real Management courage to be expanding to the China market while turning around the rest of the markets. Yet, if there is strategic help from its shareholders, then perhaps this is a viable strategy and approach.
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