Brown: ‘Right now, Malaysia’s convenience store market is underdeveloped as we are one-third of the industry’s penetration in Thailand, one-eighth of South Korea and a tenth of Japan.’
7-Eleven Malaysia Holdings Bhd
, the market leader of the 24-hour convenience store business, is confident it can maintain its aggressive expansion target beyond a three-year timeline due to the industry’s low penetration rate in Malaysia, as well as introducing new value-add services in its outlets.
According to the company’s chief executive officer Gary Thomas Brown, this presents great potential for the company to continue opening 200 new stores annually beyond the timeline agreed when it was re-listed in May last year.
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