Mydin to open two SAM grocery stores this year
Posted on April 18, 2013, Thursday
KUALA LUMPUR: Homegrown wholesale and retail giant Mydin Mohamed Holdings (Mydin) is investing about RM34 million to set up two Saya Anak Malaysia (SAM) grocery stores in Penang and KL Sentral this year.
SAM stores aim to attract high-end consumers especially from the urban population.
Its managing director, Datuk Ameer Ali Mydin, said the RM17 billion investment for each store comprised RM12 million for capital expenditure and RM5 million for stocks.
“We expect each store to contribute about RM13 million to the company’s annual group revenue,” he told Bernama, adding the company was eyeing to expand into Johor but with careful and strategic planning.
Ameer Ali said last year the company recorded a total turnover of RM2.1 billion, and this year targeted RM2.5 billion with the opening of four new hypermarkets with a total allocation of RM500 million.
“We opened a hypermarket in Jasin last month while the other three outlets will be located in Seremban, Kuala Terengganu and Semenyih.
“The hypermarket in Seremban 2 will be completed by October and the other two – in Kuala Terengganu and Semenyih – are expected to be completed by year end,” he said.
Mydin is also investing about RM160 million for two hypermarkets in Sarawak – in Bandar Baru Samariang and Isthmus – set to be operational by the second half of 2014, and plans to open another, bigger hypermarket at Vista Tunku in Kuching by 2015.
Mydin managed over 200,000 unique items and processed millions of transactions daily, Ameer Ali said.
“The key challenge is to gain insights into these huge volumes of transactions.
The company needs to track the exact products and volumes of goods going in and out of the company.
“All the imported goods will go to our retail warehouse at Vista Tunku and will be distributed to all Mydin outlets throughout Sarawak,” he added.
Mydin has grown to be the largest local Bumiputera retailer and wholesaler since 1957 with 189 branches nationwide, expanding at a rate of three to four hypermarkets annually. — Bernama