According to a report in the New Straits Times, Tesco is planning an investment of MYR650m (US$185m) in expanding its presence in the Malaysian market.

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The UK retailer was not immediately available for comment.


According to the Malaysian daily, Tesco plans to remodel and open new stores, cut prices and increase product promotions. It is believed that the move will create 3,200 jobs.


The company will invest MYR200m in opening 12 new stores, bringing its total number to 23, Chris Bush, head of Malaysian operations, reportedly said.


In December, Tesco almost doubled its floor sales space with the purchase of retail chain Marko Cash & Carry for an undisclosed sum.

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