https://www.businesstimes.com.sg/internatio...ge-malaysia-ipo

Dollar-store billionaire poised to emerge from Malaysia IPO

Eco-Shop Marketing operates more than 350 dollar stores across Malaysia

[KUALA LUMPUR] A discount chain with signature red storefronts has drawn legions of Malaysians looking for good deals – and made its founder a billionaire.

Eco-Shop Marketing, which operates more than 350 dollar stores across Malaysia, is on track to complete its initial public offering (IPO) in Kuala Lumpur on Friday (May 23) – the country’s biggest this year.

The listing will value the company at about US$1.5 billion, meaning its founder and controlling shareholder, Lee Kar Whatt, will end up with a US$1.15 billion stake, according to the Bloomberg Billionaires Index.

Eco-Shop’s growth over the last two fiscal years, with revenue increasing more than 50 per cent, reflects the demand for cheap everyday goods at a time of rising inflation, said Zhu Hann Ng, founder and chief executive officer of Tradeview Capital, a fund manager in Kuala Lumpur.

“Fixed-price retailers became a first choice,” Hann said, referring to the RM2.60 (S$0.61) price tag on all products in Eco-Shop stores in peninsular Malaysia. (Products sold in Malaysia’s two states on Borneo cost RM2.80.)

Lee, who’s 51, will remain in charge. He declined to be interviewed. He opened the chain’s first store in 2003 with his brother and a pair of other people. He still works out of the company’s headquarters in Jementah – a small town that’s a three-hour drive southeast of Kuala Lumpur.

Why all cina?? Maxam 99 speedmart

Sebab dia underpay melayu kan???

Another billionaire

Cos business sense, no ask tongkat, rajin kerja pagi sampai malam? Need ask more?

underpay the staff?

I can see 99speedmart staffs sometimes sit, sembang, relax enjoying aircon, sometimes very hardworking replenish the shelves.

I think they have their work life balance.

I can sense their happiness is, they will say "Thank you" after we checkout from the counter.

I noticed a lot of business that sell low value items need to raise money via IPO

But high value item remain as family business. They keep it and don't share the wealth

Greedy world we live in

KO JANGAN PROBOK PROBOK BOLEH TAK???

who force u to buy at eco shop or buy their stock ? please tell

ok, now, lets see your opinion about GLC and government sanctioned monopolies and cartels....

This post has been edited by Redhunt: May 22 2025, 11:53 AM

Sebab ada racist view macam u

IPO is to raise fund for expansion
Low margin product need volume to make money. So expansion is crucial and so money become necessity

High margin niche market can expand as it need. No need aggressive

Simple fact ya

Yeah. Either way the stakeholders in these companies continue to stay rich

Because no tongkat . . . .else why need to hard work kan kan ...

Time to buy

from 2 to 2.6

30% in how many years?

Eco-Shop's largest shareholder is Dato' Sri Lee Kar Whatt, the founder and Managing Director, who holds a significant portion of the company's shares.
After the IPO, his stake is reduced to 73.1%. Another major shareholder is Creador, which holds 1.9% of the shares.

It is business for profitability.
Not government nor NGO. Simple fact

Rindu zaman 2.10

And it's a problem because....?