Newly listed Berjaya Retail Bhd (BJR), the listing vehicle for Singer (Malaysia) Sdn Bhd and 7-Eleven Malaysia Sdn Bhd, is gearing up for the expansion of both companies in 2010.
For the second half of 2010, Singer Malaysia plans to open another 10 to 20 new stores, adding to the more than 400 stores nationwide currently.
Each store could cost an average of RM150,000 to RM200,000, depending on its size.
As for 7-Eleven Malaysia, it expects to open more than 100 new stores by end year-end, with 40 to 50 per cent to be located in the Klang Valley.
"The capital expenditure is about RM250,00 per store. The initial fee for franchise will be RM100,000 with the remainder for the shop. For franchised stores, we will get about RM25 million," so said a spokesperson.
Currently, 7-Eleven has 1,157 stores with 58 franchisees.
Currently both companies do not see any early prospect of a synergistic link up as they have different businesses and customers.
"We are two separate entities and customers are not exactly the same (but) given the fact that 7-Eleven can do a lot of things like accepting payments, so there is a possibility," he said.
"In other words, we can help to collect bills for Singer if our system allows us but currently we cannot do it. We need to invest in the system," he added.
BJR has been performing extremely badly on the Bursa since its IPO listing.
Vincent, what a shame!
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