WITH the opening of its 41st hypermarket in Tanjung Pinang at Tanjung Tokong, Penang, Tesco is expecting the outlet to contribute 4% of the overall revenue of Tesco Stores Malaysia Sdn Bhd.
Its chief executive officer Tjeerd Jegen said the company was expecting a double-digit growth and was also looking forward to opening new stores soon.
He, however, did not reveal further details.
He said the latest store, which is the fifth in Penang (three on Penang island and two on the mainland), has brought Tesco’s direct investment in Malaysia to over RM4.5bil to date.
“This store sees a total investment of RM80mil and we have 90 tenants.
“In the first 10 days, the store has exceeded the target budget of 15% and it is a good achievement,” he said.
“Before it was opened, we found out that there are only about 5% of residents in the area who shop in our two other stores in Gelugor and Sungai Dua,” he said after the official launching ceremony on Tuesday.
He said since there were about 750,000 people living on the island, there should be one hypermarket catering for every 100,000 residents.
Jegen said the hypermarket featured over 60,000 products, of which 95% were sourced locally and showcased in the sales floor measuring 9,000sq m.
“Our store is complemented by a mall area of 10,000sq m. There are more than 1,200 free parking bays for the convenience of our shoppers,” he said.
Jegen said since the company was supportive of the state go-vernment’s no free plastic bag initiative, it had ‘saved’ over 100 million plastic bags from being disposed of at the landfills.
The hypermarket was launched by Yang di-Pertua Negri Tun Abdul Rahman Abbas.
Chief Minister Lim Guan Eng, who also attended the event, said Tesco had invested some RM21mil to reduce the prices of over 500 items at its stores nationwide through its Price Cut programme.
During the ceremony, the company also presented a RM5,000 cheque to Sekolah Kebangsaan Tanjung Pinang as part of its corporate social responsibility initiative.
Tesco Tanjung Pinang is open from 8am to 1am daily.