99 Speedmart takes no 1 spot in sales among franchise businesses

SERDANG, March 25 (Bernama) -- Mini-market chain operator 99 Speedmart Sdn Bhd recorded the highest sales among all franchise businesses in the country last year, at RM3.4 billion, said Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail.

“The large number of outlets is a factor that enabled for 99Speedmart to clinch the topmost position in terms of sales,” he said in his speech at a franchise networking session at the Malaysia Agro Exposition Park Serdang (MAEPS) today. 

Saifuddin said the franchise business that chalked up the second highest sales last year was fast-food chain McDonald's (RM2.2 billion) followed by Senheng Electric (M) Sdn Bhd (RM988 million).

 He said the country's franchise industry made a significant contribution of RM30.3 billion last year to the Gross Domestic Product, up from about RM10 billion in 2009.

“The target for this year is RM32 billion, followed by RM35 billion in 2020,” he said.

Saifuddin said among potential areas that could be explored to invigorate the industry were "multibrand” (various brands located in one area) and “multifranchising” (various franchise firms operating within the same premises).

Today's franchise networking session was held in conjunction with the upcoming 26th Franchise International Malaysia (FIM2019) exhibition and conference at the Kuala Lumpur Convention Centre from April 5 to 7.

Saifuddin said so far, 120 franchisors had registered to open exhibition booths at the annual event and the number was expected to rise to 150 by the time the event was held.

-- BERNAMA