Sheng Siong Group, a Singapore retailer with 25 supermarkets, plans to expand internationally by opening outlets in Malaysia.

Through a partnership with an as yet unidentified Malaysian listed company, Sheng Siong plans to open a total of 50 supermarkets in Malaysia, with the first outlet to be opened in Johor.

“Singapore and Malaysia’s cultures are similar. Malaysia has a rising population, a lot of natural resources to boost its economy and thus grow consumer spending,” said Lim Hock Chee, Sheng Siong’s CEO and co-founder.

In Singapore, Sheng Siong aims to open four to six outlets yearly, catching up with rivals Dairy Farm International and NTUC. The group also plans to introduce an online retail portal in 2014.

“If we open four to six outlets a year, we hope to see revenue growth of about 10 per cent annually,” said Lim.

Sheng Siong is Singapore’s third largest supermarket retailer, after NTUC and Dairy Farm International with a booked revenue of S$628.4 million in 2010.

GB