The eight Makro cash & carry stores in Malaysia are up for sale. This was announced yesterday by controlling shareholder SHV Holdings n.v. who holds a 65 per cent share in Makro Malaysia and its two Malaysian partners who hold the rest of the shares. Dutch retailer SHV didn’t comment extensively on the decision and only said it was reached after a thorough strategic review of its portfolio.

“Makro has been in Malaysia since we openend our first store in 1993, pioneering the cash & carry concept in this country and setting the stage for the hypermarket and discount store era” Makro Malaysia’s managing director Pieter C. Boone said to the New Straits Times Press. “This represents a unique and attractive opportunity for new shareholders to take over a well-managed and sound business that offers a good footprint of strategically-located stores, experienced staff, proven operating systems and a loyal customer base.”

Given Boone’s very positive remarks about Makro Malaysia’s condition, one might wonder why SHV is selling its stake. Of course his remarks are part of the sale strategy and SHV clearly doesn’t want to wait longer until the tide is turning for Makro Malaysia. In February 2003 the Dutch retailer was forced to close its eight stores in Taiwan due to stiff competition and a slow economy leading to suddenly plummeting sales in its stores. That’s surely a scenario to prevent at all cost.