Chief Financial Officer
CurrentTF Value-Mart Sdn Bhd is a national chain of hypermarkets, principally operating in tier 2 area of Peninsular Malaysia. 30th November 2020 was a momentous day to mark a change of shareholders at TF Value-Mart Sdn Bhd (TFV). Our TFV journey started with KV Asia Capital (KVA) back in 2016 when they entrusted us to grow and expand the business from an annual revenue of RM1 billion to RM1.6 billion (FY2020), 18 stores to 37 stores and EBITDA of RM42.1 million to the excess of RM90 million. Ushered in Intermediate Capital Group (ICG), a global and well-resourced conglomerate listed in London Stock Exchange to partner us in an MBO-led acquisition to buy 100% of TFV from KVA. We are now on our 2nd journey.Ten months have gone for 2021 and it has been tough for all companies in Malaysia with the ongoing COVID-19. There are signs of green shoots with c. 95% of adult population who has been fully vaccinated with freedom to travel. It is coming to our first anniversary of our 2nd journey with ICG and Altair Capital which joined in the fun in the beginning of 2021. Altair is a private equity firm based in Singapore and focused on buyout or significant minority investments in quality companies across Southeast Asia. TFV has taken its time to build its brand and consolidate its strength at its own turf, tier 2. The TFV team is like "The Barbarians at the Gate" (of Klang Valley). Hence, our new store at Taman Connaught, Cheras, Kuala Lumpur which opened for business on 22nd October 2021, is our first store in Klang Valley, followed by Petaling Jaya USJ19 which started trading on 23rd December. So, the Barbarians have arrived! TFV finished well financially for the year to 31st December 2021 with 40 stores. TFV is now poised for another great year, 2022.