From a humble beginning as a wooden shop in Kota Bharu, Kelantan in 1957, MYDIN has grown steadily over the years.
We currently operate 68 outlets nationwide which includes hypermarkets, emporium, supermarkets, bazaar, franchise, convenience shop and premium supermarkets. MYDIN has recorded a sustainable sales turnover of RM2.5 billion in 2018 and 2019 while looking forward for exponential growth of RM2.8 billion in 2020. Following the establishment of our first hypermarket in USJ1 Subang Jaya in 2006, MYDIN’s rapid expansion was primarily driven by our market insights and industry experience, as well as the favorite store for families and bulk purchasers.
The expansion transformation from traditional store to hypermarket and mall concept requires large capital. Gaining trusts and meeting the scores set by the local banks posed a challenge for MYDIN in securing loans and gain access to financing facilities. These have driven us to tap into the bond/ Sukuk market as it offers the financial flexibility that complements MYDIN’s long-term strategic business plan. Danajamin was our first venture into the capital market, where the requirements and compliance are broader than normal bank financing.
MYDIN would not have been able to expand our business without the Sukuk financing.
Over the years, it has continually and consistently guided us in terms of monitoring and maintaining the bond/ Sukuk. The nine-year journey into the capital market with Danajamin has been very smooth and experience worthy, with constant and diplomatic communications from both sides.
MYDIN has since grown tremendously from our first fund raising of RM350 million in 2011 to build 3 hypermarkets in Seremban, Ulu Tiram and Johor Bharu. We would not have been able to expand our hypermarket business without the Sukuk financing and have since become the largest Bumiputera owned wholesale and retail chain in Malaysia with positive brand perceptions, which led to many awards and achievements.
Today, MYDIN employs around 7,500 employees, some of whom are persons with disabilities which has been MYDIN’s sincere initiatives since the company’s establishment as a way of giving back to the society. MYDIN will be opening another two hypermarkets in Jengka, Pahang and Tunjung, Kelantan in 2020/2021 as a continuity business plan to increase its domestic retail market share.