Tesco Expands As Retail Prospects Remain Bright

Although Malaysia is increasingly one of emerging Asia's more established mass grocery retail (MGR) markets, BMI continues to predict a bright medium-term future for Malaysian retail, with industry sales forecast to increase by 50% to reach MYR20.7bn (US$6.49bn) in 2014. Having been a key beneficiary of sector growth to date, UK retail major Tesco continues to favour the market, unveiling plans to invest MYR500mn (US$156.7mn) in opening five new outlets in 2010. On announcing its plans, Tesco appeared to adopt a cautious tone, highlighting the lengthy retail planning process in Malaysia. Nonetheless, while BMI also recognises these risks, we believe

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