Malaysian Convenience Store Chain 99 Speedmart Accelerates Expansion
This story is part of Forbes' coverage of Malaysia's Richest 2025. See the full list here.
Last September's listing of 99 Speed Mart Retail Holdings raised $532 million in what was Malaysia's biggest IPO in seven years. It catapulted the minimart chain's founder Lee Thiam Wah into the ranks of billionaires and earned the 61-year-old CEO a debut spot among the country's richest this year.
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Lee started out in 1987 with one shop selling sundries in the port city of Klang and has grown it into a chain of 2,750 convenience stores, bigger than rival 7-Eleven in Malaysia, which had just under 2,700 as of December. He has earmarked part of the IPO proceeds for store expansion, targeting a store count of 3,000 by year-end with new outlets in the east Malaysian states of Sarawak and Sabah.
'Backed by the proceeds from our IPO, we are well poised to accelerate our expansion and meet growing demands,' Lee said in February when the company reported a 23% jump in after-tax profit for 2024 to 490.3 million ringgit.
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We first consulted with our team who has personal experience with duvet covers from Amazon and asked for their top tested recommendations. We considered duvet covers from well-loved brands that we have experience with that are reputable and offer high-quality products. We searched through hundreds of customer reviews to determine the upsides and drawbacks to each product, and if we think they're worth the money. We only considered duvet covers with a 4-star rating or higher on Amazon. We took important features into account such as materials used, thread count, weave and notable certifications. A duvet cover can change the feel of your bedding and make a difference in how comfortable you sleep depending on your needs and preferences. The most common materials used include cotton, linen, bamboo and polyester. Natural fibers like cotton and linen are better at regulating temperature and help wick away moisture, while polyester is an affordable and wrinkle-resistant material. However, synthetic materials restrict breathability, which makes it 'more difficult for our bodies to regulate temperature, resulting in overheating and restless nights sleep," says Lauren Wood, co-founder of sustainable and ethically made linens company Sirimini. Weave This refers to the way a fabric's thread pattern is woven, and it also contributes to the overall feel of your duvet cover. Duvets with a percale weave feel more crisp, lightweight and fresh like a high-end hotel sheet. Bedding with a sateen weave tends to be softer, more buttery and gives off a subtle sheen, but it generally sleeps warmer than percale. Thread Count Thread count is a common measurement when it comes to bedding that helps indicate quality and weight. Wood says, 'In hot weather, an organic cotton percale with a thread count of 200 to 400 would be a good choice; the lower thread count benefits sleepers because of their lower density and higher breathability.' 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