Indonesian financial group Macrovalue is in development style, which firmly established itself as a key player in the local supermarket industry this week with the purchase of Cold Storage and Giant stores in Singapore.
Owner and founder of Macrovalue, Andrew Lim Tatt Keong, said the deal, worth S$ 125 million ( US$ 93 million ), will make his business Malaysia’s third-largest supermarket operator, behind AEON and Lotus ( previously Tesco ), in the wake of its$ 93 million ( US$ 93 million ) acquisition.
It also aligns with his group’s plan to achieve range in a fiercely aggressive environment.
The goal of any food and food organization is to grow until it is” important” in order to profit from better bulk discounts and back-end offer suppliers. We hope to be that group in Malaysia, Lim said, only like NTUC FairPrice and the Central Group in Thailand, which have 50 % of the market share.
In addition, Lim even stated to CNA that he had no intention of denying the possibility of launching new Cool Storage and Giant operations in Singapore as the new owner.
One more thing, it will be business as usual. No cuts, no cuts, and no. three, Lim Boon Cheong, has agreed to take the group on, he said, referring to the managing director of Food Singapore for DFI Retail Group.
He added that both the Cold Storage internal Meadows materials and the Yuu loyalty program will remain.
Lim emphasized that his Macrovalue wholesale group’s long-term investment in Singapore was not just a” cut and ball” transaction. ”