KUALA LUMPUR: Newly listed Berjaya Retail Berhad will focus on expanding its 7-Eleven and Singer stores this year, with its capital expenditure (capex) coming from internally generated funds.
7-Eleven Malaysia Bhd executive director Ng Su Onn said another 100 stores requiring RM25 million will be added to its 1157 store nationwide. According to Ng, it will also collect RM25 million from franchising existing stores this year which will cover the capex required.
"About 40% to 50% of our expansion plans will be in Klang Valley," Ng told reporters after the group's listing ceremony on Monday, Aug 16.
Meanwhile, Singer Malaysia Sdn Bhd managing director Yeap Dein Wah said that around 10 to 20 stores will be added by year end, costing RM150,000 to RM200,000 each.
Berjaya Retail debuted 3% higher at 51.5 sen at the opening bell on Monday.
Its chain of 7-eleven stores and franchise is the highest topline contributor at 77%, said Ng. However, its net profit after tax is equally contributed by both 7-Eleven and Singer.
7-Eleven Malaysia Bhd executive director Ng Su Onn said another 100 stores requiring RM25 million will be added to its 1157 store nationwide. According to Ng, it will also collect RM25 million from franchising existing stores this year which will cover the capex required.
"About 40% to 50% of our expansion plans will be in Klang Valley," Ng told reporters after the group's listing ceremony on Monday, Aug 16.
Meanwhile, Singer Malaysia Sdn Bhd managing director Yeap Dein Wah said that around 10 to 20 stores will be added by year end, costing RM150,000 to RM200,000 each.
Berjaya Retail debuted 3% higher at 51.5 sen at the opening bell on Monday.
Its chain of 7-eleven stores and franchise is the highest topline contributor at 77%, said Ng. However, its net profit after tax is equally contributed by both 7-Eleven and Singer.
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