Supermarket operator Giant TMC has revealed the latest stage in its expansion plans with a further RM80m investment in Malaysia, earmarked for the construction of two new supermarkets and three hypermarkets.
“Giant will also be setting up an International Procurement Centre in the Klang Valley which will be a centre for the purchase and dispatch of goods to the retail outlets in the Asian region. This is to leverage on the economies of scale,” said Michael Kok, regional director of Dairy Farm International, which owns 90% of Giant.
By the end of this year, the Malaysian market will be worth RM900m to Giant, a figure that could reach RM1.1bn during 2001, when the company will have 16 outlets. In light of this, Giant is expected to increase its Malaysian store portfolio by a further 20 during 2002.