Tesco plans to raise the bar in Malaysia, expanding its network across the country and renovating its existing stores.

Without disclosing the number of new stores planned, Tesco Malaysia says it will spend RM60 million (US$20 million) on new stores and refurbishments of many of its 45 existing shops.

“We also plan to open new stores in Sabah and Sarawak as the prices of some goods there are often higher than those in Peninsular Malaysia and we hope to narrow the price gap,” said CEO SungHwan Do.

Tesco has a long term investment in the Tesco Ambient Distribution Centre (TADC) which it says can serve as many as 100 stores. TADC had cost Tesco RM260 million (US$62 million).

Tesco Malaysia was founded in 2001 as a 70:30 alliance between Tesco UK and local conglomerate Sime Darby Berhad.

GB