Carrefour to double outlets to 26 in Malaysia: report

Carrefour Malaysia is planning to invest some 373 million dollars over the next three years to double the number of its hypermarkets here to 26, a report said Wednesday.

The New Straits Times said the expansion, including the construction of three more outlets this year, would create 4,200 jobs.

"We expect to spend not less than 1.2 billion ringgit (373 million dollars) over the next three years for openings," Carrefour customer operations and marketing director Sivakumar Haridas told the daily.

"Prior to 2006, we only had eight stores. Between 2006 and January 2008 we have already added five stores. And within the next three years, we expect to double the number of stores from 13 today," he said.

The New Straits Times said the French retailer was the first foreign hypermarket to enter the country in 1994, but now trails behind Hong Kong's Dairy Farm Giant with 29 stores and Britain's Tesco which has 19 outlets.

It said Carrefour Malaysia is operated by Magnificent Diamond Sdn Bhd, which is 30 percent owned by a company controlled by the royal family of Negri Sembilan state.

Copyright © 2007 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.

Copyright © 2007 Yahoo! Singapore Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved.
Privacy Policy - Terms of Service - Community - Help