“There are no concrete plans, but we are looking for good opportunities” to enter other markets, Lee said in an interview just days after 99 Speed Mart Retail Holdings raised more than US$530 million in Malaysia’s biggest initial public offering in seven years. “The feasibility is quite important.”
Malaysian billionaire Lee Thiam Wah is looking to leverage the US$530 million ($686.78 million) his convenience store chain’s public offering raised last week to expand the 99 Speed Mart network.
Lee wants to grow the number of outlets to 3,000 by the end of 2025 from the current 2,600 and establish a presence in Kelantan, the only Malaysian state 99 Speed Mart doesn’t yet have a store. He is also open to expansion abroad, should the opportunity present itself.
