PETALING JAYA: 7-Eleven Malaysia Holdings Bhd’s long-term prospects remain rosy, supported by its expansion drive and synergy realisations with Caring Pharmacy and Berjaya Corp Bhd (BCorp)-related companies, said CGS-CIMB.
The research house said although 7-Eleven Malaysia’s near-term sales could be impacted by weaker footfall in light of the rise in Covid-19 cases and movement restrictions nationwide, it gathers that 7-Eleven Malaysia remains focused on improving its product mix and optimising its cost base. This was illustrated in FY20 when the convenience store segment’s profit after tax margin remained stable year-on-year (y-o-y) at 2.3% (FY19: 2.3%) despite segment revenue declining by 12.7% y-o-y.
KUALA LUMPUR (April 20): Malaysian Rating Corp Bhd (MARC) has assigned a preliminary rating of AA- to 7-Eleven Malaysia Holdings Bhd s proposed RM600 million medium-term notes (MTN) programme with a stable outlook to reflect the group s strong and established market position in the Malaysian convenience store segment.
In a note today, MARC analysts said 7-Eleven Malaysia Holdings had proposed the MTN to refinance existing borrowings and as the convenience-store operator with about 2,400 stores nationwide is expected to continue its rapid pace of expansion with a target of opening 100 to 150 new outlets annually. The assigned rating mainly reflects 7-Eleven Malaysia Holdings strong and established market position in the convenience store segment, gained from a long operating track record with a wide store network that has supported stable earnings generation.
20 Apr 2021 / 21:37 H.
PETALING JAYA: Malaysian Rating Corp Bhd (MARC) has assigned a preliminary rating of ‘AA-’ to 7-Eleven Malaysia Holdings Bhd’s proposed RM600 million medium-term notes (MTN) programme with a stable outlook.
“The assigned rating mainly reflects 7-Eleven’s strong and established market position in the convenience store segment, gained from a long operating track record with a wide store network that has supported stable earnings generation.
Moderating the rating are the prevailing competition within the convenience store segment, particularly in the urban areas, and high operating cost inherent in the convenience store business model that has weighed on operating margins,” MARC said.
The Covid-19 pandemic has turned out to be a great reset for Tan Sri Vincent Tan, the patriarch of Berjaya Group. The group that is anchored on a gamut of economic activities ranging from gaming to fast food, pharmaceutical products, property development, hotels and resorts has taken a beating from the global recession.
Berjaya’s weak fundamentals despite an array of assets were laid bare when shareholders’ value for the group as a whole was shaved by more than 30%. According to data compiled by a private research unit, Tan’s paper wealth dropped to RM1.4 billion from RM2.16 billion in 2019, causing him to slip out of the list of top 40 richest Malaysians.
March 08, 2021
Great Eastern, Columbia Asia, Thomson Hospital Kota Damansara Inks MOA with DoctorOnCall
KUALA LUMPUR, Malaysia, March 8, 2021 /PRNewswire/ DoctorOnCall, Malaysia s first and largest digital health platform today announced partnerships with insurance companies and health industry stalwarts in ensuring that Malaysians are given digital access to healthcare amidst the rising COVID-19 cases in Malaysia.
Dato Koh Yaw Hui - CEO of Great Eastern Life Assurance (Malaysia) Berhad
Shahrul Azlan Shahriman - CEO Great Eastern Takaful Berhad
Great Eastern Life Malaysia and Great Eastern Takaful Berhad are the first insurer and takaful operator respectively, in Malaysia to partner with DoctorOnCall to include telemedicine as an optional benefit in their medical suite of products. With this partnership, their customers will not only be able to seek medical advice with a general practitioner, but also purchase medication through prescription online with free delivery.