Malaysian news stand and convenience store operator Bison Consolidated Bhd, which aims to expand its presence using proceeds from an upcoming public offer, plans to open 150 new myNEWS.com convenience stores across the country by 2017 from 205 stores currently.
As at 31 October 2015, Bison had 237 news stands and convenience stores under its portfolio of brands including myNEWS.com, Newsplus, MagBit and The Front Page. It also operates WHSmith outlets in Malaysia, in a joint venture with United Kingdom-based WHSmith plc.
"It has always been our plan to expand our network of stores. With the proceeds raised from the initial public offering (IPO), certainly we will make use of it to expedite our expansion plan," Bison founder and managing director Dang Tai Luk told The Edge Financial Daily in an interview.
(Source: The Malaysian Insider)