More information was revealed by Sumber Alfaria Trijaya on its Philippines foray at its shareholder’s meeting on 25 June 2014.
Summary:
Q3, 2014 – First distribution centre will open
By end-2014 – About 20 convenience stores will open
Within 2 years – 300 convenience stores running
Joint venture partner: Name not disclose. Likely to be SM Group, according to news reports.
Confirmed, it is SM
“We are still planning with them,” Teresita Sy-Coson, SM Investments vice chairwoman said in a text message to ANC, according to the report by ABS-CBN on 7 July 2014.
Sumber Alfaria Trijaya will take a 35% stake in the joint venture.
