7-Eleven Malaysia to expand pharmacy business into Indonesia via JV

TheStar Mon, Nov 29, 2021 07:05pm - 2 years View Original


7-Eleven Store

KUALA LUMPUR: 7-Eleven Malaysia Holdings Bhd (SEM) has team 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 established 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 represents an opportunity for the SEM Group to venture into the pharmaceutical industry in Indonesia," it said.

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