7-Eleven Malaysia ventures into Indonesia’s pharmacy market
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7-Eleven Malaysia Holdings Bhd has teamed up with a listed company on the Jakarta Stock Exchange to set up a retail pharmacy chain in Indonesia.
SEM, in a filing today, said its 75% owned Caring Pharmacy Retail Management Sdn Bhd has entered into a joint venture with PT Era Prima Indonesia (EPI) to establish the business.
Caring would take a 50.1% stake in the JV.
SEM said the total funding of the proposed JV was about RM8.55mil. “The proposals represent an opportunity for the SEM Group to venture into the pharmaceutical industry in Indonesia,” it said.
EPI is a subsidiary of listed firm PT Erajaya Swasembada Tbk, a distributor and retailer of mobile communication products.
Questions & Answers
Q.What is the primary purpose of this joint venture for 7-Eleven Malaysia?
What is the primary purpose of this joint venture for 7-Eleven Malaysia?
The joint venture provides an opportunity for the SEM Group to enter the pharmaceutical industry within Indonesia. It marks their first venture into this specific market segment in the country.
Q.Who are the main parties involved in setting up this new retail pharmacy chain?
Who are the main parties involved in setting up this new retail pharmacy chain?
The main parties are 7-Eleven Malaysia Holdings Bhd, specifically its 75% owned Caring Pharmacy Retail Management Sdn Bhd, and PT Era Prima Indonesia (EPI). EPI is a subsidiary of PT Erajaya Swasembada Tbk.
Q.What is Caring Pharmacy Retail Management's ownership stake in the new joint venture?
What is Caring Pharmacy Retail Management's ownership stake in the new joint venture?
Caring Pharmacy Retail Management Sdn Bhd will hold a 50.1% stake in the joint venture. This gives them a majority ownership in the newly established retail pharmacy business in Indonesia.
Q.What is the estimated total funding for this proposed joint venture?
What is the estimated total funding for this proposed joint venture?
The estimated total funding for the proposed joint venture is approximately RM8.55 million. This figure covers the initial investment required to establish the retail pharmacy chain in Indonesia.
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