Carrefour to stay in Malaysia – invests US$87mn

French retailer Carrefour said in 2008 it will invest RM300mn (US$87mn) in its operations in Malaysia. Doing this, the company ends all speculations on a possible exit from this Southeast-Asian market, which it entered in 1994. Currently Carrefour operates 11 hypermarkets in Malaysia.

The French retailer intends to use the invested sum to the refurbish and rebrand its existing stores and remodelling of five stores. “As a true corporate citizen of Malaysia, our long-term commitment in this country is for our stakeholders, our customers, our partners and our employees”, reads a company statement.

In recent years Carrefour has withdrawn from markets where was underperforming (Japan, Mexico, Portugal, Switzerland) but now the multinational hypermarket retailer clearly states that it will retain it business in Malaysia.

“We aim to always contribute towards the improvement of this country's social and economic sectors through our strength as a multinational company. This is evident with more than RM1 bn we have invested in this country.”