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Launching Tesco Tanjung Pinang

SPEECH BY CHIEF MINISTER OF PENANG, YAB TUAN LIM GUAN ENG AT OFFICIAL LAUNCH OF TESCO SERI TANJUNG PINANG ON JULY, 5, 2011 (TUESDAY)

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The Governor of Penang

Tuan Yang Terutama Tun Dato' Seri Utama Dr Haji Abdul Rahman bin Haji Abbas

Chief Executive Officer of TESCO Malaysia

Mr. Tjeerd Jegen

Distinguished members of the State Assembly,

.Honoured guests,

Ladies and Gentlemen,

A very good morning and salam sejahtera to all of you.

It indeed bodes well for Penangnites when a leading multinational retailer continues to steadily expand its operations in Malaysia. It goes to show that the operating landscape in this State is favorable to the company and the prospects and potential for growth remains positive. Penang State Government will continue to encourage and welcome foreign direct investments here.

I would like to thank Tesco Stores Malaysia for once again inviting me to witness the opening of its brand new store in Penang, the 5th in this State and the 41stthroughout the country.

Ladies and gentlemen;

I am told that Tesco this year has invested some RM21 million to cut prices of well over 500 items throughout its stores in Malaysia through the Price Cut programme. This gesture was indeed timely in view of soaring prices and the challenging economic climate. I hope that the cheap prices offerings by Tesco can assist costumers in lessening the harsh effects of inflation by continuing to offer the cheapest prices.

The products carried in all Tesco stores are sourced locally and are manufactured by local SMEs. This helps us to promote the Malaysian SMEs to expand their business. About 60% Tesco’s own brands areBarangan Buatan Malaysia. Hence, the success of Tesco also translates to the success of our local producers, manufacturers and small-and-medium sized enterprises.

Further Tesco also has a programme that specifically trains and grooms its suppliers to be more competitive in delivering quality products through its various SME programmes. I hope to see more and more Penang based suppliers benefit from their collaborative efforts and support from Tesco.

In addition, Tesco in Penang employs locally. I am given to understand that this new hypermarket in Tanjung Pinang will alone employ 300 people in total. These range from management level employees to general workers and they will be part of a 2000-strong staff force throughout Penang. Almost all of Tesco employees are local. Naturally, having good employment opportunities are an essential factor for continued growth and prosperity in any State or country.

Ladies and gentlemen,

On the part of the Penang State Government, we promise to do all we can to ensure members of our business community are able to enjoy an efficient and enabling operating landscape to achieve growth and be successful in a long term and sustainable manner.

Once again, we appreciate your vote of confidence in Penang and congratulations to Tesco on the opening of Tesco Tanjung Pinang.

THANK YOU


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