KUALA LUMPUR (May 25): Malaysia continues to be the core market for Focus Point Holdings Bhd's optical business, said its president and chief executive officer Datuk Liaw Choon Liang.

While expanding its optical business domestically, the optical retail chain store operator said it is planning to grow its food and beverages (F&B) segment overseas.

“For optical, we have no plan for the next three years. But for F&B, definitely, because currently we have [operations] in Brunei and the Philippines, and we are still talking to other potential investors,” Liaw told reporters after hosting the group’s 14th annual general meeting (AGM) on Thursday (May 25).

He noted that the group currently has a total of 186 owned and franchised optical outlets, while its F&B arm has 32 Komugi outlets in Malaysia, the Philippines and Brunei.

“We are still expanding the franchise business (for optical) and in fact this year we want to launch a new scheme of franchise.

“For optical, for the short period — within the next three to five years — we have no plan to go outside the Malaysian market and we really want to focus in Malaysia,” he said.

Specifically, the group intends to further expand its new brand, Optometris Anggun, this year. The mid-to high-end brand targeting the Malay demographic which was launched in March 2022.

Meanwhile, Liew expects tourism recovery in Malaysia to boost its retail business.

“We can see that tourists are a very important segment because we have several locations attourist spots [such as Pavilion Bukit Bintang, Suria KLCC and Genting Premium Outlets]," he said, adding that prices in Malaysia are much more competitive and there is the option to shop at duty free zones.

For the financial year ended Dec 31, 2022 (FY2022) the group's net profit more than doubled to RM35.86 million year-on-year from RM14.05 million in FY2021, as revenue jumped 45% to RM248.82 million from RM170.43 million. This is mainly attributed to higher sales from all its business segments after the Covid-19 pandemic.

At the time of writing, shares in Focus Point fell one sen or 1.31% to 75.5 sen, valuing the group at RM348.81 million.