Shares of 99 Speedmart Retail Holdings Bhd rose in early trading yesterday after the company confirmed the opening of its first store in China, located in Fuzhou, Fujian Province on August 31.
At 10.25am, the company's shares rose four sen to RM2.54 with 1.64 million units traded.
In a statement to Bursa Malaysia on Tuesday, 99 Speedmart confirmed local media reports on its overseas expansion efforts.
The company also plans to open a prototype store in Fuzhou before implementing a phased expansion in the city.
The establishment of the store is not expected to have a material impact on the group's revenue or net assets for the financial year ending December 31, 2025.
The firm did not disclose any further details, including the amount of investment.
