
KUALA LUMPUR (Sept 2): 99 Speed Mart Retail Holdings Bhd (KL:99SMART) on Tuesday confirmed that it opened its first overseas store in Fuzhou, China on Aug 31.
"The company will also set up prototype outlets with plans to progressively expand within Fuzhou," the mini mart operator said in a filing with Bursa Malaysia.
“The establishment of the store is not expected to have a material impact on the group’s earnings or net assets for the financial year ending Dec 31, 2025,” the company added.
99 Speed Mart, which was listed on the Main Market last September, did not provide further details including the investment size.
The announcement came after local Chinese media reports on Tuesday about the company’s store opening in Fujian province. According to the reports, the new operations in China will be wholly-owned by 99 Speed Mart.
As of end-June, 99 Speed Mart had 2,894 outlets across Malaysia.
Shares in 99 Speed Mart closed down two sen or 0.79% at RM2.50 on Tuesday, valuing the company at RM21.17 billion.