QL Resources to continue with Family Mart expansion despite weak sentiment

SHAH ALAM: QL Resources Bhd is maintaining its target of having 300 "Family Mart" convenience stores within the next five years despite weak consumer sentiment and intense competition.
"Competition means the market is growing, we still see opportunities in this space for new players like Family Mart," QL managing director Chia Song Kun told reporters after the company's AGM here today.
QL, which has set aside RM100 million for its five-year start-up plan, is scheduled to open the first "Family Mart" store by year-end in the Klang Valley.
"We'll be focusing on the Klang Valley because it is the main market. We've identified a few locations," he noted.