99 Speed Mart Retail Holdings Berhad: A Strategic Move by EPF and Anticipated Sales Boost
In a significant development for Malaysia’s retail sector, the Employees Provident Fund (EPF) has made a strategic investment in 99 Speed Mart Retail Holdings Berhad, acquiring a 5.02% stake through a direct off-market deal. This move marks EPF’s first investment in the home-grown mini market chain, signaling confidence in the company’s growth potential. The acquisition involved the purchase of 421.79 million shares on June 4, 2025, as reported by multiple sources including KLSescreener and The Edge Malaysia.
The investment by EPF, a major institutional investor, is likely to bolster investor confidence in 99 Speed Mart, which operates approximately 2,800 stores across Malaysia. The company, listed on Bursa Malaysia, has a market capitalization of 18,396,004,480 MYR and a close price of 2.09 MYR as of June 5, 2025. Despite a high price-to-earnings ratio of 36.8151, the company’s strategic initiatives and strong market presence continue to attract significant interest.
In addition to the EPF investment, 99 Speed Mart is poised for a potential sales boost with its decision to advance the daily opening hours of its outlets by one hour to 9 am starting July 1, 2025. This change is expected to increase foot traffic and enhance sales, leveraging the company’s extensive network of stores and its 12-hour operational shift.
The broader convenience store segment in Malaysia has been performing exceptionally well, with retail sales in the mini-market, convenience store, and cooperative subsector expanding by 8.5% in 2024. However, rising costs could temper consumer sentiment moving forward. Despite these challenges, 99 Speed Mart’s strategic initiatives and strong institutional backing position it well to navigate the evolving retail landscape.
As the company continues to expand its footprint and adapt to market dynamics, the investment by EPF underscores the growing importance of convenience stores in Malaysia’s retail sector. Investors and market watchers will be keenly observing 99 Speed Mart’s performance in the coming months, particularly in light of its operational changes and the broader economic environment.