It appears one of our homegrown companies has recently made its international debut! Over the weekend, 99 Speedmart opened its first store in China, marking the mini-mart’s maiden overseas entry.
Earlier this year, several local news outlets reported that 99 Speed Mart Retail Holdings Bhd (99SMART), the operator of the 99 Speedmart chain of convenience stores, had recently opened an outlet in China. Following the reports, the company confirmed the establishment of its debut store in Fuzhou, Fujian Province, on 31st August 2025 (Sunday). The new outlet marks 99 Speed Mart Retail Holding’s maiden entry into the global market.
Along with the new store, the company will also set up prototype outlets in the area. The group also confirmed plans to expand in Fuzhou and the Fujian region, hoping to cater to its over 40 million population. However, 99SMART mentioned that the new store isn’t expected to have a material impact on its earnings or net assets in the financial year ending 31st December 2025.
While the new overseas outlet is surprising to many, 99SMART had previously outlined plans to expand beyond Malaysian borders during its second-quarter results. Of course, entering the Chinese market comes with risks due to the highly competitive nature of the country’s retail environment. However, some analysts are optimistic that the chain can survive, as long as the company plays its cards right.
According to analysts’ research, there aren’t many well-known or major small supermarket chains in Fujian Province, suggesting the industry is currently dominated by independent mom-and-pop stores or that customers prefer to shop at supermarkets. As such, analysts said that if 99SMART can replicate its “near and save” model in the foreign market, the group can find success through industry consolidation or a favourable shift in consumer preferences.
Meanwhile, the reaction to 99 Speed Mart’s opening a store in China has been mixed. While some hope the Malaysian company will succeed, others have been slightly more pessimistic. What are your thoughts on this?
Sources: Bernama, Oriental Daily, Business Today
