By Business Times
TESCO Stores (Malaysia) Sdn Bhd is expanding its business in the northern region by opening three more outlets in Penang and Kedah within this year. Tesco Malaysia chief operating officer Tim Golding said the company wanted to bring its Tesco offers to more customers and the new outlets will be opened at Seri Tanjung Pinang in George Town, Penang, and in Kulim and Alor Star, Kedah.
He said the new outlet at Seri Tanjung Pinang is expected to open in June. The company has invested RM20 million on setting up the leased outlet, making it a long-term tenant at the development, which has been said to be the largest seafront project in Penang’s history.
“Tesco Malaysia also has further developments in Alor Star and Kulim, where two more of our outlets will be opening this year. Both projects cost about RM50 million each,” he said at the official launch of Tesco Bukit Mertajam at Jalan Rozhan yesterday.
Tesco Bukit Mertajam, which measures 9,000 sq m, opened for business on September 23 last year and is Tesco Malaysia’s 36th outlet in the country and Penang’s fourth. Apart from more than 60,000 product lines in fresh food, groceries, apparel, electrical appliances, furniture and health and beauty items, the outlet also features over 50 shop units and 30 pushcart stalls.
Golding said the new Alor Star outlet will be located in the Stargate township, a 124ha mixed development in Tandop. Tesco Kulim began constructions in September last year in Taman Lembah Impian. The two-storey hypermarket is expected to be completed in the second quarter of this year.
Golding said Malaysia was a fantastic market for Tesco, which plans to open seven to eight new outlets annually. The company is presently in planning stages for the new outlets nationwide. He added that Tesco Malaysia also boasts a 100 per cent local employment rate, with Malaysians filling various positions in the company across the country.
Tesco Malaysia government relations and legal affairs director Azlam Shah Alias said for 2011, the company would invest an estimated RM500 million.
It was reported earlier this month that Tesco Malaysia has plans to invest RM280 million and open four more hypermarkets over 12 months starting from March, bringing the total number of stores it has nationwide to 40.
Tesco Malaysia started operations here in 2002 with its first store in Puchong, Selangor, and has invested over RM3 billion since. Last year, it recorded RM3.6 billion in revenue.