KUALA LUMPUR: The Malaysian franchise industry has been growing at a rapid pace in the past two years and is currently at a commendable level.
Shamsuzaman Sulaiman, Domestic Trade and Consumer Affairs Ministry’s senior director of Distributive Trade and Services Sector said the industry has contributed significantly to the country’s socio-economic development, based on the Franchise Business Annual Report (LTPF).
He said statistics from the 2018 LTPF report revealed that the sales value of franchise companies had increased to RM11.15bil from RM8.62bil in 2016 -- a 30% rise within a mere two years.
“Currently, there are 583 local franchises, 63 master franchisee and 269 foreign franchise brands registered under the Franchise Act 1998, ” he said in an interview on Bernama Radio recently.
Shamsuzaman said there are 13,017 franchise premises which are currently operating; of which 5,419 are premises belonging to franchisors, while 7,599 are owned by the franchisees.
Most commendably, 65 local brands, including Daily Fresh, Rotiboy and Smart Reader have successfully expanded their franchise business, opening more than 3,000 new outlets in 66 countries, he said. — Bernama
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