Its executive director, Ng Su Onn, said currently, the company has 1,103 stores, with three run by franchisees.

“We hope to grow the number of stores to 2,000 in three years’ time. To have 1,000 of the stores managed by franchisees during this period is achievable,” he told reporters after a signing ceremony between 7-Eleven Malaysia and Perwira Niaga Malaysia here Monday.

The collaboration between the two parties will see at least 100 ex-servicemen receive resettlement opportunities via job placements at 7-Eleven stores.

On the franchise programme, Ng said, the company has received about 1,300 applications, of which 76 had been selected.

Ng said the company would offer a full support franchise model, whereby beside training before the opening of the store, the franchisee would also get help from a field consultant in the operations.

He said to start a new store, a franchisee would need between RM400,000 and RM500,000, including RM200,000 worth of stocks.

“We have enough funds to sustain our business. With this franchise model, we expect this will further boost our sales.

“Based on the current situation, our franchised store’s sales have increased by 20 to 30 per cent,” he said.

On the listing exercise, Ng said, the company was still awaiting the Securities Commission’s (SC) approval.

“We expect to get it by the end of the first quarter next year. We are looking at listing by the second quarter in 2010,” he said.

Berjaya Retail Bhd (B-Retail) is the listing vehicle for subsidiaries, Singer (M) Sdn Bhd and 7-Eleven Malaysia Sdn Bhd, on the Main Market of Bursa Malaysia.

The plan includes Berjaya Corp’s wholly-owned subsidiary, Cosway Corp Bhd, selling its 100 per cent stake in Singer to B-Retail for RM360 million.

At the same time, B-Retail will buy the full stake in 7-Eleven from Premier Mechandise Sdn Bhd for RM600 million.

The Singer and 7-Eleven acquisitions will be satisfied via a combination of assumption of debt and issuance of new shares.

– BERNAMA

KUALA LUMPUR: 7-11 Malaysia Sdn Bhd aims to open 2,000 stores nationwide in three to five years, of which 50% of the new stores would be under its franchise scheme.

Executive director Ng Su Onn said on Monday, Dec 21 the franchise system would help expand its outlets. Currently, only three stores were under the franchise scheme.

He was speaking to reporters after 7-Eleven signed an agreement with Lembaga Tabung Angkatan Tentera (LTAT) subsidiary Perwira Niaga Malaysia (PERNAMA).

Earlier, an MoU was signed between the two parties to formalise a resettlement scheme for 100 ex-servicemen. The scheme would entail training with job placements at 7-Eleven stores.

7-Eleven will have 1,100 stores by end-December, said Ng.