7-Eleven Malaysia introducing new cafe-lifestyle concept, including seating areas

Updated: Monday June 23, 2014 MYT 7:16:01 AM

7-Eleven introducing new cafe-lifestyle concept, including seating areas


KUALA LUMPUR: Through its plans to expand network and refurbish some selected stores, 7-Eleven Malaysia Holdings Bhd targets to introduce a new concept in 200 outlets in the next three to four years.

The new store format, deputy chief executive officer Gary Brown said, was to offer a lifestyle concept similar to a neighbourhood cafe for the convenience store chain.

Among the selling points of the new concept stores are the array of fresh food and beverages as well as seating areas.

“The next generation of stores will be available in key cities in the Klang Valley, Penang and Johor. It is not possible to provide fresh food in every outlet because we have to look at the right demographic and store location,” Brown said at the opening of the 1,600th 7-Eleven store in Malaysia.

In the Klang Valley, he expected there to be at least 150 of these new concept stores.

The company has set aside RM80mil for 200 new stores and 200 refurbishments this year.

It intended to invest some RM520mil over the next three years for its business expansion which include opening 600 new stores nationwide, refurbishing some 600 existing stores, improving its IT system and setting up a new 166,000 sq ft combined distribution centre in Shah Alam. For refurbishment, RM27.3mil will be funded from its initial public offering proceeds and the rest through internally generated funds. The chain will also expand more aggressively in Sabah and Sarawak where it currently has a combined 68 stores. The stock closed last week’s trade at RM1.90, up 38% from its initial public offering price of RM1.38.


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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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