KUALA LUMPUR, 99 Speed Mart Retail Holdings Bhd has confirmed the opening of its first overseas store in Fuzhou, China on Aug 31.
In a filing with Bursa Malaysia, the convenience store operator said it will also establish prototype outlets in Fuzhou, with plans for progressive expansion in the city.
The company noted that the move is not expected to have a material impact on its earnings or net assets for the financial year ending Dec 31, 2025. 99 Speed Mart, which made its Main Market debut last September, did not disclose further details such as investment size.
The confirmation follows reports in Chinese media earlier Tuesday about the store launch in Fujian province, which said the operations in China would be wholly owned by 99 Speed Mart. As of end-June, the group operated 2,894 outlets across Malaysia.
On Tuesday, shares in 99 Speed Mart closed two sen lower, or 0.79% down, at RM2.50, giving the company a market value of RM21.17 billion.
