KUALA LUMPUR — Apri 14, 2016: The decision by QL Resources Berhad to open FamilyMart convenience stores in Malaysia will benefit the group’s earnings in the longer term as well as provide a strategic downstream expansion of its existing food manufacturing and distribution businesses.
“We believe the concept of convenience stores will be favourable to consumers in view of the fast paced environment nowadays,” JF Apex Securities said in its review of QL’ new business today.
QL announced two days ago its decision to on having the Japanese-based FamilyMart convenience stores in Malaysia. FamilyMart is the second largest convenience store chain in the world after 7-Eleven, with 17,540 stores in 7 countries as at last March 31.
“Marked as a worldwide leader in convenience store business, the FamilyMart brand focuses on retailing convenience products, emphasising on ready-to-eat food and beverages and providing food conveniency to consumers.
QL expects to open the first FamilyMart in Malaysia by this December. Along the way, QL plans to open 300 stores in Malaysia in five years, based on the track record or experience of FamilyMart stores in other countries.