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Funan DigitaLife Mall Closing for Redevelopment

Funan Centre

The news was a surprise to many retailers at Funan DigitaLife Mall. The mall will be closing for redevelopment in 3Q2016 for 3 years.

Funan DigitaLife Mall is home to Challenger’s flagship megastore including many IT retailers. Challenger will be shuttering its operations at its 53,000 sqft flagship store. Challenger mentioned that it will be employing a more ambitious e-commerce strategy to make up for the closure of the megastore.

I have previously divested all my stake in Challenger Technologies. Personally, I feel that unless prices are competitive, Challenger’s e-commerce platform will face tough competition. You can read more at my previous review (My Personal Analysis of Challenger Technologies).

Well, at least for me, I still enjoy shopping in a physical shop for technology gadgets as compared to shopping online.

What about you?

My Personal Analysis of Challenger Technologies

Challenger Technologies Logo

Challenger Technologies is an IT lifestyle retailer and has 40 stores island-wide. In my teenage days, I have enjoyed shopping at Challenger store at Funan centre for computer games, software and computer accessories.

I have been holding this stock since the year 2011 which has rewarded me with dividends over the years.

Challenger Technologies currently make up only 1% of my portfolio.

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Challenger Technologies new subsidiary Challenge Ventures Pte Ltd

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SGX Mainboard-listed Challenger Technologies Limited (“Challenger” or the “Group”), today announced it has set up a wholly owned subsidiary Challenge Ventures Pte Ltd (“CVPL”) to focus on investing in companies and businesses to complement Challenger’s existing business.

Over the past 2 years, Challenger Technologies Limited has been aggressively investing in its in-house brand “Valore”, which turns out to be a failure. All Valore concept stores have been converted into Challenger stores.

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