18/04/2025 11:17 pm MYT
This week, i Capital features 99 Speed Mart Retail Holdings Berhad (99 SMART), a prominent player in the grocery-based retail industry. 99 SMART operates the “99 Speedmart” chain of mini-market outlets involved in the retailing of daily necessities.
The history of the Group can be traced back to 1987, when Lee Thiam Wah established a traditional sundry shop named “Pasar Raya Hiap Hoe” in Klang. 99 SMART was listed on the Main Market of Bursa Malaysia on September 2024. It is the largest player in the mini-market industry (40.1% market share) and the leading grocery retailer (11.6% market share) in terms of revenue in Malaysia (figure 1).
99 SMART operates 2778 outlets located across Malaysia as at 31 December 2024 with the highest number of stores in central region of Peninsular Malaysia, which includes Selangor, Kuala Lumpur and Putrajaya (figure 2). Each of its outlets carry daily necessities comprising mainly fast moving consumer goods (FMCG) such as food and beverages, personal and baby care products as well as household products.
Affordability and Convenience
99 SMART’s business model emphasizes affordability and convenience, catering to mostly low-mid-income households. It offers a diverse product portfolio, approximately 3,300 SKUs on average across approximately 50 product categor
Note from Publisher
Tun Abdullah Ahmad Badawi was Malaysia’s 5th prime minister and he was strongly supported by i Capital. He led the country from 2003 to 2009 with far-sighted socio-economic policies, so far sighted that his predecessor could not comprehend. Unlike the high-pressured and dictatorial rule of his predecessor, he tolerated differences in opinions and opened up space for criticism of the government. He established the Judicial Selection Committee to promote judicial independence and ordered the government to compensate the six former judges dismissed by his predecessor, which was equivalent to clearing their names. He set up the Anti-Corruption Commission to deal with the country’s serious problems of corruption and abuse of power. He promoted civilised Islam (Islam Hadhari) to fight conservative and extreme religious ideas. He was a prime minister with the nation’s sole interests at heart, bravely and wisely abolishing many non-sensical projects by his arrogant predecessor. Even after being forced to step down, he left office with grace and did not interfere with his successor’s administration. Thank you and rest in peace, Pak Lah !
i Capital will pause its publication for one issue in the week beginning 28 Apr. However, www.icapital.biz will be updated as usual. Our Kuala Lumpur office will be closed on 1 May. Normal operating hours will resume on 2 May. The next issue, Volume 36, number 34 of i Capital, will be dated 8 - 14 May 2025.
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