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Malaysia
Malaysias geography can be divided into two demographic and economic regions: West Malaysia, also referred to
as Peninsular Malaysia along the Straits of Malacca, and East Malaysia, which consists of two states on the island of
Borneo.
2002
2003
2004
0.3
4.4
5.4
7.1
CPI (%)
1.4
1.8
1.1
1.5
Unemployment
In 2004, unemployment was at 3.5%, or almost full
employment. The improved labour market conditions
led to a signicant decline in the number of retrenched
workers and higher demand for labour during the course of
the year.
Malaysia
Unemployment
2001
2002
2003
2004
3.7
3.5
3.6
3.5
Economic forecasts
GDP is expected to grow 4.8% in 2005, decelerating from
7.1% in 2004 due to the slowdown in the manufacturing
sector. The private sector is expected to remain the main
engine for Malaysias growth, with private consumption
staying resilient, stemming from income gains, low
interest rates and positive consumer sentiment. Private
consumption is expected to grow by 8.5% in 2005 and
7.5% in 2006.
Bank Negara Malaysia (BNM), the central bank, expects
the Malaysian economy to grow by between 5% and 6%
in 2005. All sectors of the economy are expected to enjoy
growth, with the manufacturing and services sectors
leading the way. The Malaysian Institute of Economic
2006
2007
GDP (%)
4.8
5.1
5.1
CPI (%)
2.6
2.1
1.9
3.7
3.8
4.2
Malaysia
FDI
2001
2002
2003
2004
FDI
(MYR bn)
2.28
12.15
10.63
11.39
FDI
(USD bn)
0.6
3.2
2.8
3.0
Other regulations
Wholesale and retail regulations
The wholesale and retail sector falls under the supervision
of the Ministry of Domestic Trade and Consumer Affairs
(MDTCA) through the Committee on Wholesale and Retail
Trade. The Committee was set up in 1995 to regulate and
supervise the industry, including foreign participation in the
sector. Approval from the Committee is needed for foreign
companies wanting to set up wholesale or retail operations
locally, and for the opening and relocation of branches.
The government has also amended Foreign Investment
Committee (FIC) guidelines to provide further exibility on
foreign equity participation in local companies. In the case
of acquisitions, foreigners can own up to 70%, as long as
the 30% (minimum) Bumiputera (indigenous Malays and
other ethnic groups) condition is met.
FIC and MDTCA are generally exible on the shareholder
structure. However, exceptions are examined on a
case-by-case basis. Other conditions placed on foreign
investment in the industry include:
Malaysia
Population evolution
Urban/Rural split
Population
Population (m)
2001
2002
2003
2004
24.0
24.5
25.0
25.5
% of total population
1998
2003
2008 (f)
Urban
55.9
59.4
62.9
Rural
44.1
40.6
37.1
1998
2003
2008 (f)
0 14 years
35.6
33.7
31.8
15 64 years
60.4
61.9
63.3
Over 65 years
3.9
4.4
4.9
Income/Buying power
Malaysia is classied as an upper-middle income country
and considered as one of the most developed of the
developing countries. The proportion of middle-income
households, dened as those earning between MYR1,200
and MYR3,499 per month, has increased from 47.7% in
1999 to 47.9% in 2002. Mean monthly gross income per
household increased from MYR2,472 in 1999 to MYR3,011
in 2002, denoting an average monthly income growth of
6.8% per annum.
Malaysia
23%
22%
5%
2%
18%
6%
19%
Food
Miscellaneous Goods and
Services
Recreation Entertainment
Education and Cultural
Services
Transports and Communication
Lifestyles/Shopping habits
Income per capita (% of growth)
Income (per capita)
2001-02 growth (%)
6.4
8.1
11.5
Consumer behaviour
Average household spending patterns
Malaysians spend a high percentage of their household
income on food, groceries and personal care items,
ranking third out of the ten major economies in the AsiaPacic region (excl. Japan). According to ACNielsen,
Malaysians on average spent MYR505 per month on food
and groceries, with just under half of that on fresh food like
meat, fruits and vegetables.
Malaysia
Brand/Price sensitivity
Malaysian consumers are becoming more knowledgeable
and discerning, and are not easily inuenced by
advertisements and promotions. They are price-conscious,
but at the same time desire brand quality. With the growing
afuence and changing lifestyle, consumers are becoming
more demanding, not only of the quality of goods but also
the services they receive. According to ACNielsen, strong
brands inuenced almost 90% of consumers purchase
decisions. Strong brands were also found to retain at least
75% of their customers loyalty.
Core business
2003-2004
growth (%)
1,185
1,306
10.2
British American
Tobacco (Malaysia)
Bhd
842
859
2.0
699
763
9.2
424
455
7.3
KFC Holdings
(Malaysia) Bhd
284
349
22.9
Carlsberg Brewery
Malaysia Bhd
231
259
12.4
191
233
22.2
Malaysia
Core business
2003-2004
growth (%)
Unilever (Malaysia)
Holdings Sdn Bhd
156
161
3.2
132
145
10.4
10
Dairy processing
98
111
12.8
2002
2003
2004
2005 (f)
Total sales
(USD bn)
11.7
12.1
12.6
13.6
14.5
Growth
rate (%)
1.7
3.0
3.6
7.9
6.5
Number of
stores in
2004
2004 Net
sales
(USD m)
Ownership
Retail formats
Store brands
Hypermarkets (15),
supermarket (46),
pharmacies (161)
Giant, Cold
Storage, Guardian
222
647
Dairy Farm
International,
Hong Kong
Jaya Jusco
Jusco Selection
11
401
The Store
Corporation
The Store
Corporation Bhd
Department storescum-supermarkets
(37), hypermarkets (4)
The Store
41
306
Carrefour
Magnicent
Diagraph, France
Hypermarket
Carrefour
263
SHV, The
Netherlands
Wholesale retailer
Aro, Q-Biz,
Savepak
204
Courts Mammoth
Courts Plc, UK
Retailer of furniture
and electrical goods
No own brand
80
153
Malaysia
Number of
stores in
2004
2004 Net
sales
(USD m)
151
Ownership
Retail formats
Store brands
Tesco
70:30 JV between
Tesco, UK and
Sime Darby Bhd,
Malaysia
Hypermarket
Tesco
Parkson Retail
Group
Parkson
Corporation,
retailing arm of
Lion Diversied
Department store
Parkson, Xtra
(31), Supermarkets (8)
39
109
Suiwah
Corporation
Suiwah Corp
Supermarkets and
department stores
92
10
Metrojaya
Metrojaya Bhd
Metrojaya, East
India Company,
Somerset Bay,
Living Quarters,
Reject Shops, La
Senza Girl
65
78
11
Jerasia Capital
Jerasia Capital
Bhd
Fashion garments
and accessories
boutiques (13
international brand,
1 local brand) and inhouse outlets
Franchise: MNG,
Naf Naf and Calvin
Klein Own brand:
Charlie, Ladylike,
Lois, Milani
14
67
12
Padini
Padini Holdings
Bhd
Retail garments,
shoes and
accessories
boutiques and inhouse outlets
Padini, Padini
Authentics, P&Co,
PDI, Seed, Vincci,
Miki Kids, Rope
170
55
13
Ngiu Kee
Corporation
TKN Enterprise
Supermarkets and
department stores
12
45
Malaysia
E-commerce
According to the Malaysian Communication & Multimedia
Commission, the number of internet users in Malaysia
reached 9.9 million as of end-2004 and 13.2 million at
the end of rst quarter 2005, representing almost 39% of
the nations total population in 2004. Internet shopping
has gained popularity from 24% of internet users as a
percentage of the Malaysian population in 2002 to 28% in
2003. At least one-third of internet users have purchased
items online and the bulk of this spending went to
consumer goods such as books, CDs, clothing and owers
(45%); computing products (18%); and travel products
(7%).
Malaysia
M&A activity
M&A activity since 2003
Seller
Industry sector
Deal value
(USD m)
Cosway
Corporation
Personal care
22.64
2004
Padiberas
Nasional
Tradewinds
Corporation
Food Flour/Grain
6.58
2004
Toys R Us Malaysia
Toys R Us
Singapore Pte
Metrojaya
Toys
2.3
2004
DNP Clothing
DNP Holdings
Apparel
manufacturer
0.27
2004
Yoshinoya Food
Systems Malaysia
DNP Holdings
Retail Restaurant
0.13
2003
FFM Bhd
PPB Group
FFM minority
shareholders
Food Flour/Grain
208.08
2003
Lion Diversied
Holdings
Amsteel
Corporation
Retail
131.37
2003
Durrington Group
Unza Holdings
minority
shareholders
Personal care
101.63
2003
KFC Holdings
(Malaysia)
Private investor
Government
of Singapore
Investment Corp
Restaurant
19.46
2003
Tops Retail
Dairy Farm
International
Royal Ahold NV
Retail
Supermarket
N/A
2003
Lion Diversied
Holdings
Aktif Lifestyle
Corporation
Retail
Department store
**
Year
Target name
2004
Acquirer
Malaysia
Opportunities
Emerging trends
Leisure themes
Lifestyle retailing has also changing the countrys shopping
landscape. Key leisure themes like health and beauty,
and lifestyle and tness is gaining much attention from
consumers. New concepts like an indoor tropical forest
complete with the water feature in Sunway Pyramid and
ea markets are gaining popularity with shoppers.
Malaysia
Franchise business
The visibility of food and beverages (F&B) franchises in
Malaysia has become so prominent that it has created a
perception that equates franchise businesses exclusively
to F&B franchise. However, there are many other
possibilities for local franchising industry besides F&B.
High potential sectors included education and training,
services such as healthcare, printing and plumbing,
technology, retail and motor vehicles. Among some of the
more notable local franchises are San Francisco Coffee,
Bonia, Edaran Otomobil Nasional (EON) (motor vehicles
distributor), Royal Selangor, Marrybrown Fried Chicken,
The Chicken Rice Shop and Sugar Bun. EON is the largest
locally developed franchise, with more than 250 outlets.
Around 40% of franchises operating in Malaysia are
franchises adopted from overseas and 70% of these
are acquired from the US. Over the past ve years, the
industry recorded an annual increase of 10% in the
number of outlets.
Shoppingtainment
Malaysian shopping malls have become not only shopping
havens but also entertainment hubs with mini-cinemas,
ice-skating rinks, bowling alleys, indoor theme parks,
3-D theatres etc. The ve most popular shopping malls
in the Klang Valley (Mid-Valley Megamall, Suria KLCC,
Sungei Wang Plaza, Sunway Pyramid and 1-Utama), all
have inbuilt entertainment elements. These shopping
malls capture the meaning of the latest buzzword
shoppingtainment. The continued development of
massive shopping centres and malls will mean that the
major retail chains are likely to continue to operate under
one roof, rather than take on separate high-street sites.