Retail hypermarket operator Tesco Stores (Malaysia) Sdn Bhd, the joint-venture between UK-based Tesco PLC and local conglomerate Sime Darby Bhd, plans to expand its business presence in Malaysia by opening three major stores in 2014, said its CEO Georg Fischer. The group plans 3 more standalone stores – at Jitra (Ke
Retail hypermarket operator Tesco Stores (Malaysia) Sdn Bhd, the joint-venture between UK-based Tesco PLC and local conglomerate Sime Darby Bhd, plans to expand its business presence in Malaysia by opening three major stores in 2014, said its CEO Georg Fischer.
The group plans 3 more standalone stores – at Jitra (Kedah), Jenjarom (Selangor) and Mutiara Rini (Johor) – next year, bringing its total number of standalone stores to 50.
"We still have a lot of growth potential in Malaysia, and we have just started our e-commerce business. At the moment, we don't have plans to enter into Sabah and Sarawak," Fischer told reporters on the sidelines after the launch of Tesco Extra Ara Damansara here yesterday. The new Tesco Extra at Ara Damansara has a retail area of 7,000 square meters
Tesco Malaysia has a market share of nearly 11% in the domestic grocery retail segment.
Tesco Malaysia currently operates 47 standalone and two integrated stores.
On the impact of power tariff hike, Fischer said Tesco Malaysia, despite being a big energy user, has pledged to keep its prices of goods and products at a low level.
"We will continue to work hard with our energy professionals to keep our prices low," he said. Fischer added however, that the hike is likely to impact consumer behavior and spending power.
Tesco Puncak Alam is the first hypermarket in Malaysia that uses LED as light source.