7-Eleven Malaysia to expand pharmacy business into Indonesia via JV 


7-Eleven Store

KUALA LUMPUR: 7-Eleven Malaysia Holdings Bhd (SEM) has teamed up with a listed company on the Jakarta Stock Exchange to set up a retail pharmacy chain in Indonesia.

SEM, in a filing today, said its 75% owned Caring Pharmacy Retail Management Sdn Bhd has entered into a joint venture with PT Era Prima Indonesia (EPI) to established the business.

Caring would take a 50.1% stake in the JV.

SEM said the total funding of the proposed JV was about RM8.55mil. "The proposals represents an opportunity for the SEM Group to venture into the pharmaceutical industry in Indonesia," it said.

EPI is a subsidiary of listed firm PT Erajaya Swasembada Tbk, a distributor and retailer of mobile communication products.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Ringgit opens marginally higher on mixed signals
Strong dividend outlook on Hap Seng Plantations
Hibiscus completes acquisition of Fortuna international Petroleum
FBM KLCI slumps following wild trading on Wall Street
Trading ideas: Opcom, Maybank, Greatech Technology, MISC, Luster Industries, Aimflex, AirAsia and YB Ventures
Sinovac regimen gets strong boost from Pfizer, AstraZeneca or J&J COVID shots - study
Tesla countersues JPMorgan, claims bank sought 'windfall' after Musk tweet
Oil price falls 2% as Fed rate hike talk spooks risk markets
Bitcoin bounces off six month lows as buyers step in
Wall Street reverses, ends higher in late session rally

Others Also Read


Vouchers