99 Speedmart

What 99 Speedmart does

99 Speed Mart Retail Holdings Berhad (Bursa Malaysia: 99SMART) is the largest minimarket chain in Malaysia, operating over 3,000 stores across all 13 Malaysian states and Federal Territories under the "NEAR n' SAVE" convenience-and-affordability principle. Founded in 1987 in Klang by Lee Thiam Wah as Pasar Raya Hiap Hoe and rebranded as 99 Speedmart, the company serves everyday mass-market Malaysian consumers with a wide assortment of fast-moving consumer goods (FMCG) across 50+ categories, including groceries, personal care, and household essentials. The company completed a MYR 2.4 billion IPO on Bursa Malaysia in August 2024 — Malaysia's largest IPO since 2017 — and reported FY2025 revenue of RM 11.43 billion with a GP margin of 19.47% and PAT margin of 5.31%.

The business model is anchored on three revenue streams: (1) directly operated retail store sales of FMCG merchandise at competitive unit pricing, (2) the 99 Bulksales wholesale-style program offering higher transaction values via larger pack sizes, and (3) Speedpoint Services, an in-store bill payment and e-wallet reload platform generating transactional fees from third-party service providers. Store locations are deliberately placed in residential neighborhoods to maximize proximity, supported by seven distribution centers and an electric light truck pilot at the Cyberjaya facility. Beyond Malaysia, the company opened its first international store in Fuzhou, China in August 2025, signaling a measured expansion of the format outside its home market.

Corporate ownership remains concentrated with founders holding over 79% post-IPO. The leadership team is founder-led with Lee Thiam Wah as Executive Director and CEO, Dato' Chua Tia Guan as Chairman, Yong Eng Kwang as COO, and Albert Lee Yan Zhong as Sustainability & Optimization Officer. Strategic positioning is reinforced by NielsenIQ No.1 FMCG retail certification (2021-2022), three consecutive Putra Brand Awards Silver (2023-2025), GreenRE Platinum certification for 10 outlets, and a net-zero carbon commitment by 2050 supported by the EV fleet rollout. Marketing is predominantly physical-store-driven with supporting social media presence on Facebook, Instagram, and LinkedIn.

Name

99 Speedmart

Legal name

99 Speed Mart Retail Holdings Berhad

Website

https://99speedmart.com.my

Company type

Public

Founded year

1987

Operating status

Ipo

Headcount range

5,001–10,000 employees

Short description

99 Speedmart is Malaysia's largest minimarket chain, operating 3,000+ stores nationwide selling FMCG goods to everyday consumers under the "NEAR n' SAVE" proximity-and-affordability principle, with FY2025 revenue of RM 11.43 billion.

Ownership category

akta.pro rank

Headquarters

HQ city

Klang

HQ country

Malaysia

HQ region

Asia

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Retail Store Operations: 99 Speedmart generates the majority of its revenue from operating a chain of over 3,000 retail minimarket stores across Malaysia, selling fast-moving consumer goods (FMCG) including household products, groceries, and daily essentials. The retail model operates on standard merchandise sales with gross profit margins of approximately 19.47% (FY2025).
2. 99 Bulksales: Bulk purchasing program allowing customers to buy larger quantities of goods at discounted prices, generating incremental revenue through higher transaction values.
3. Speedpoint Services: Bill payment and financial services offered at store locations, providing transaction convenience fees from third-party billers and service providers.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

99 Speedmart (99 Speed Mart Retail Holdings Berhad) operates a chain of minimarket retail stores across Malaysia, selling groceries, household essentials, and daily consumer goods at value prices. The company also offers bulk purchasing services through its 99 Bulksales program and bill payment services via Speedpoint counters at select locations.

Product overview

99 Speedmart is a Malaysian FMCG retail chain operating a network of over 3,000 minimart stores nationwide. The company offers a unified retail platform centered on its core store operations, complemented by two key service offerings: 99 Bulksales for bulk purchasing and Speedpoint Services for bill payments and financial transactions. All operations follow the 'NEAR n' SAVE' principle, emphasizing accessibility and affordability for everyday consumers. The company went public in 2024 with a MYR2.4 billion IPO and has recently expanded internationally with its first store in China in August 2025.

Differentiator

Problem solved

Functional benefit

Brands

• 99 Bulksales: Bulk purchase program offering 'buy more, save more' deals on high-demand goods.
• Speedpoint Services

Products and services

• 99 Speedmart Retail Stores
• 99 Bulksales
• Speedpoint Bill Payment Services
• 99 Speedmart International Store (Fuzhou, China)

Quantifiable outcome

• 99 Speedmart achieved RM 11.43 billion in FY2025 revenue, representing growth from RM 7.84 billion in FY2021.
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

18 partnerships are on record, tiered core and minor.

• Alliance BankcoreGTM or Marketing Partner · 3 June 2026Alliance Bank and 99 Speed Mart collaborated in June 2026 to offer SMEs (Small and Medium Enterprises) 0% instalments on bulk purchases. This partnership enables SME customers to benefit from interest-free installment payment options when purchasing in bulk through 99 Speedmart's 99 Bulksales program, expanding financial accessibility for business customers.
• Majlis Agama Islam dan Adat Istiadat Melayu Perlis (MAIPs)minorStrategic or Co-development Partner · 5 March 202699 Speedmart donated RM10,000 worth of celebration baskets for 160 recipients from B40 and asnaf groups. The donation was presented by Yong Eng Kwang (COO) at the Anjung Rezeki MAIPs foodbank inauguration ceremony attended by Tuanku Syed Faizuddin Putra, Raja Muda Perlis.
• Majlis Agama Islam dan Adat Istiadat Melayu Perlis (MAIPs)minorStrategic or Co-development Partner · 3 December 202599 Speedmart partnered with MAIPs for the Anjung Rezeki foodbank program, providing dry goods to vulnerable groups, asnaf, and those in need. The program places foodbank supplies at strategic mosque locations and UNISIRAJ in Perlis.
• St. John Ambulans MalaysiaminorStrategic or Co-development Partner · 25 October 202599 Speedmart partnered with St. John Ambulans Malaysia for flood relief logistics, distributing drinks, biscuits, and bread to flood victims in Larut, Matang, and Selama districts of Perak.
• Kementerian Digital MalaysiaminorStrategic or Co-development Partner · 11 October 202599 Speedmart partnered with the Ministry of Digital to distribute 800 food baskets for B40 families in preparation for Deepavali 2025. The handover ceremony was attended by YB Gobind Singh Deo, Minister of Digital, and Yong Eng Kwang (COO) of 99 Speedmart.
• Jabatan Kebajikan Masyarakat (JKM)coreStrategic or Co-development Partner · 1 July 202599 Speedmart was selected as Strategic Partner of JKM 2025, receiving recognition from the Department of Social Welfare for active involvement in programs under the Ministry of Women, Family and Community Development. The award was received by Yong Eng Kwang (COO) at the JKM Strategic Partners Appreciation Ceremony 2025.
• Zoo Negara Malaysia / Malaysian Zoological SocietyminorStrategic or Co-development Partner · 22 May 202599 Speedmart continued its 4th year of sponsorship to Zoo Negara Malaysia worth RM132,572 for the conservation of White Lions Manja Li and Manja Ros. The handover was attended by Ng Lee Tieng (Non-Executive Director) and Lee Lay Liang (Executive Director) of 99 Speedmart.
• Warisan TC Holdings Berhad / Angka-Tan Motor Sdn. Bhd.coreOthers · 7 May 202510 units of Foton eAumark electric light trucks were delivered to 99 Speedmart at its Cyberjaya Distribution Center. The electric vehicles support 99 Speedmart's logistics operations as part of its sustainability agenda to achieve net-zero carbon emissions by 2050. The handover ceremony was attended by Lee Thiam Wah (CEO) and Lee Yan Zhong (Sustainability Officer) of 99 Speedmart.
• GreenRE Sdn BhdcoreStrategic or Co-development Partner · 23 November 202499 Speedmart was recognized as a winner of the GreenRE Sustainable Development Awards 2023/2024 in the Best Retail Outlets category. 10 branches achieved Platinum certification through GreenRE assessment, demonstrating sustainable building practices. GreenRE is a green building certification entity in Malaysia.
• Jabatan Bomba dan Penyelamat MalaysiaminorStrategic or Co-development Partner · 27 December 202399 Speedmart donated RM75,000 in food kits to flood victims in Kelantan, Terengganu, and Pahang through Jabatan Bomba Malaysia. 600 food kits were distributed at SK Tasik Bakong Rantau Panjang, Kelantan. Additionally, 99 Speedmart established the 99 Speedmart Malaysia Voluntary Fire Brigade team.
• Majlis Paralimpik MalaysiacoreStrategic or Co-development Partner · 3 December 202399 Speedmart awarded RM37,500 to 39 medal winners from the 2022 Hangzhou Asian Para Games (7 gold, 15 silver, 17 bronze medals), distributed through Majlis Paralimpik Malaysia.
• Jabatan Bomba dan Penyelamat MalaysiaminorStrategic or Co-development Partner · 1 December 202399 Speedmart symbolically handed over RM400,000 worth of disaster food kits to Deputy Director (Operations) Norhisham Bin Mohammad of Jabatan Bomba Malaysia for Northeast Monsoon preparedness and early assistance during flood season. 99 Speedmart also established its Voluntary Fire Brigade team.
• Majlis Paralimpik MalaysiacoreStrategic or Co-development Partner · 16 October 202399 Speedmart signed a 3-year sponsorship MOU with Majlis Paralimpik Malaysia worth RM 750,000, announced by YB Hannah Yeoh, Minister of Youth and Sports. The sponsorship supports Malaysian Paralympic athletes. In September 2025, 99 Speedmart additionally pledged RM35,000 for each gold medal winner, RM15,000 for silver, and RM7,000 for bronze at the Paris 2024 Paralympics.
• Konfederasi Hoki MalaysiacoreStrategic or Co-development Partner · 16 October 202399 Speedmart signed a 3-year sponsorship MOU with Konfederasi Hoki Malaysia worth RM 1,200,000, announced by YB Hannah Yeoh, Minister of Youth and Sports. The sponsorship supports Malaysian hockey athletes and development programs.
• Kementerian Sumber Asli, Alam Sekitar dan Perubahan Sekitar (NRECC)coreStrategic or Co-development Partner · 9 May 202399 Speedmart partnered with NRECC to launch the MADANI Reusable Bag program and No Plastic Bag campaign. The event was officiated by YB Nik Nazmi Bin Nik Ahmad, Minister of NRECC. 99 Speedmart received Platinum GreenRE Certification at this event and introduced the MADANI Reusable Bag priced at RM2 with free replacement and RM2 refund upon return.
• St. John Ambulance MalaysiaminorStrategic or Co-development Partner · 28 August 202299 Speedmart partnered with St. John Ambulance Malaysia to conduct a blood donation campaign across 8 states, collecting 1,734 bags of blood from donors in Selangor, Melaka, Johor, Penang, Kedah, Sabah, Perak, and Terengganu.
• Hospital Tengku Ampuan Rahimah (HTAR)minorStrategic or Co-development Partner · 21 November 202099 Speedmart conducted its 10th blood donation campaign in collaboration with Hospital Tengku Ampuan Rahimah Klang, collecting 254 bags of blood. The partnership has been ongoing with multiple blood donation drives held at the Jalan Kebun distribution center and other locations.
• Majlis Bandaraya Diraja Klang (MBDK)minorStrategic or Co-development Partner99 Speedmart collaborated with MBDK and HTAR for annual blood donation campaigns, including the 13th campaign in July 2024 that collected 621 bags of blood at Dewan Hamzah MBDK.

Scale indicators8 records

Recent moves4 records

Expansion highlights6 records

Direct peers

• 7-Eleven Malaysia Holdings: Listed Malaysian convenience store chain operating ~2,500+ 7-Eleven outlets nationwide. Direct competitor with the same neighborhood format, FMCG assortment, extended hours, and similar target customer of everyday Malaysian consumers.
• myNews Holdings: Listed Malaysian convenience store operator with hundreds of myNews.com outlets. Competes directly with 99 Speedmart in the small-format neighborhood convenience segment, including FMCG, snacks, beverages, and on-the-go purchases.
• FamilyMart Malaysia: Japanese-origin convenience chain with a presence in Malaysia operating small-format stores focused on ready-to-eat, beverages, and daily essentials. Directly competes for nearby convenience shoppers in urban and suburban catchments.

Broad incumbents

• Mydin Mohamed Holdings: Malaysian hypermarket and discount retail chain (Mydin Mart, Mydin Wholesale, Mydin Hypermarket) competing for household FMCG and grocery spend with broader assortment and bulk pricing across multiple formats.
• Lotus's Malaysia (formerly Tesco Malaysia): Major Malaysian hypermarket chain offering grocery, fresh, household and FMCG assortments at scale. Overlaps with 99 Speedmart for everyday household FMCG spend, particularly via value positioning on everyday essentials.
• AEON Co. (M) Bhd: Diversified Malaysian retail group operating AEON Big hypermarkets and AEON Stores. Competes with 99 Speedmart in mid-market FMCG and household spend, with broader non-food assortment and private-label depth.
• Econsave Cash & Carry: Malaysian hypermarket chain providing grocery, household, and FMCG goods at value pricing across multiple states. Competes for the same mass-market household shopper targeted by 99 Speedmart's 99 Bulksales program.

Regional players

• Indomaret (PT Indomarco Prismatama): Indonesia's largest minimarket/convenience chain with 20,000+ outlets. Closest Southeast Asian comp in business model (neighborhood small-format FMCG) and demonstrates the regional scale-up arc 99 Speedmart's China entry aspires to replicate.
• Alfamart (PT Sumber Alfaria Trijaya): Indonesia's second-largest convenience chain with 16,000+ stores. Strong benchmarking comp for neighborhood convenience FMCG at scale, useful for projecting 99 Speedmart's cross-border growth potential across ASEAN.

Emerging players

• Jaya Grocer: Malaysian premium supermarket chain with strong private-label and imported assortment. Targets higher-income Malaysian households, representing an adjacent tier partially complementary to 99 Speedmart's mass-market core.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php?id=100068298965018
• LinkedInlinkedin.com/company/99-speedmart-mini-market
• Instagraminstagram.com/99_speedmart
• Xx.com/99_speedmart

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 99 Speedmart