Tesco is set to nearly double its stores in Malaysia after buying eight new outlets for a reported £80 million, including the cost of conversion.
According to the Times, the stores, bought from cash-and-carry chain Makro, will become Tesco Extra hypermarkets and will combine both retail and wholesale sales.
The move could see it rival the country’s Giant Hypermarket for the position of market leader.
The Times said Tesco plans to open 300 more stores abroad in the second half of its financial year. It posted a healthy 17.5 per cent rise in international sales in the three months to the end of November.
