Its chief executive officer Tjeerd Jegen said it would continue to do this but the number would depend on the government's approvals.
"As far as we are concerned, we want to open up many stores, including in Sabah and Sarawak within the next 10 years, to make our stores accessible to customers," Jegen told reporters after launching Tesco's 10th year anniversary here yesterday.
Tesco now operates 39 stores and two distribution centres.
It is now focusing on expanding its business in the north.
So far this year, Tesco had opened three stores with investments worth some RM240 million. In the next six months, it will open another three.
"The three new stores will be located in Penang, Old Klang Road in Kuala Lumpur, and Sri Iskandar in Perak. Usually, we will invest between RM80 million and RM200 milllion for a store," he said.
Tesco Malaysia is a joint venture between Tesco plc, one of the world's largest international retailers, and Sime Darby Bhd. It started operations in May 2002, with the opening of its first hypermarket in Puchong, Selangor. It currently employs some 15,000 people.
Apart from new stores, Tesco Malaysia will also help upgrade 152 small retail shops under a government plan called Tukar.
Tukar, one of the Entry Point Projects under the Economic Transformation Programme, aims to modernise these shops to increase their competitiveness. To date, three major retail chains, namely Mydin, Carrefour and Tesco have signed up.
Tesco Malaysia has adopted two retail outlets, one in Shah Alam and the other one in Bukit Puchong under the project.
"We have contributed some RM80,000 in terms of shelving and equipment to a shop in Shah Alam and another RM60,000 to the shopowner in Bukit Puchong.
"They have since managed to increase their sales. For instance, the shopowner in Shah Alam managed to double her sales, while the other shop in Puchong managed to increase its workforce," he said.
By Business Times
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