Mydin To Open 14 More Branches Nationwide
SUBANG JAYA, Aug 18 (Bernama) -- Mydin Mohamed Holdings Bhd plans to open 14 more branches nationwide with gross development value of RM1.6 billion in two years.
Its managing director, Datuk Ameer Ali Mydin, said the company has bought 14 parcels of land worth RM165 million nationwide to build hypermarkets.
"We are looking at various options to fund this plan, such as internally-generated funds, bank borrowings or build and lease," he told reporters after the launch of AmBank-MyKasih Community Programme at Mydin Hypermarket USJ Subang Jaya here Wednesday.
Ameer Ali said the new hypermarkets would be built in Kuching, Kota Kinabalu, Sungai Petani, Bukit Mertajam, Kota Baharu, Kuantan, Johor Baharu, Kuala Terengganu, Seremban and Kajang.
"Our immediate plan is to add 20 mini market branches this year and another 50 by 2011," he said.
Currently, Mydin has 57 branches nationwide, which include four hypermarkets, 18 emporiums, two bazaars, 24 mini markets ("MyMydin"), three 24-hour convenience stores ("My Mart") and six franchises ("Mydin Mart").
Ameer Ali said Mydin expected sales to increase to RM1.6 billion this year from RM1.35 billion last year in line with the uptrend in the domestic economy.
"The healthier the nation, the better our economy will perform and as a result there will be better sales," he said.
He said Klang Valley business operations continued to contribute to higher sales growth, followed by Melaka.
Ameer Ali urged small and medium enterprises (SMEs) to produce a wide variety of products and supply to the company.
He said SMEs should look into handicrafts, garments and accessories.
"So far we are happy with SME products that met the criteria but they must look at other products needed by the market," he said.
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