CEO Morning Brief

Ministry Invites Supermarket Chains to Expand to Sabah, Sarawak and Labuan

edgeinvest
Publish date: Fri, 16 Aug 2024, 09:24 AM
edgeinvest
0 24,271
TheEdge CEO Morning Brief

SHAH ALAM (Aug 15): The Ministry of Domestic Trade and Cost of Living has invited large supermarket chains such as Lotus’s Stores (M) Sdn Bhd (Lotus's Malaysia) to open branches in Sabah, Sarawak and the Federal Territory of Labuan, with an eye on promoting its Buy Malaysian Goods Campaign.

Its minister Datuk Armizan Mohd Ali said that with the opening of more such supermarkets, consumers in these states and Federal Territory will have more choices in addition to creating healthy competition.

“If we look at the price of chicken sold at Lotus’s Malaysia, we find that they consistently and over a long period of time offer a reasonable price of as low as RM6.99 per kg compared to the high market prices in Sabah, Sarawak and Labuan.

“That’s why we invite it (to go to Borneo) if they can provide a wide selection of products at reasonable prices, why not explore the market in the three areas,” he said at a press conference after officiating the 2024 Lotus’s Buy Malaysian Goods Campaign in Setia Alam here on Thursday.

Armizan said as the ministry responsible for regulating the retail sector, it will facilitate the process for any supermarket chain to expand its retail branches to Sabah, Sarawak and Labuan, as well as in other states.

He said the ministry can help expedite the process, including in negotiations with the state governments, local authorities and ministry branches in the states involved.

“If Lotus’s or any other supermarket can offer good prices of goods to consumers, we will help as much as possible to facilitate their process of opening a branch because they already have a licence,” he said.

Armizan said Lotus’s Malaysia is one of the 16 major retail companies involved as a strategic partner of the ministry in making the Buy Malaysian Goods campaign, which is held from June to December every year, a success.

He said last year, Lotus’s Malaysia recorded an increase in the sales of local goods to RM40.59 million compared with RM40.16 million and RM34.63 million in 2022 and 2021 respectively.

This campaign also saw the number of Stock Keeping Units of local goods marketed at the supermarket increase to an inventory of 2,009 items in 2023, compared with 1,687 and 1,633 in the previous two years, he said.

Uploaded by Lam Seng Fatt

Source: TheEdge - 16 Aug 2024

Related Stocks
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment