The beginning of the year proved to be fruitful for Tesco Stores Malaysia. On January 24, the hypermarket giant took over Makro Malaysia, including eight Makro stores and its staff from Dutch firm SHV Holdings NV.

Eight Tesco Extra outlets will be opening its doors nationwide. Chief executive officer Chris Bush said the move, which will see the conversion and refurbishment of what was once Makro Cash and Carry, will also bring a further RM240 million investment into Malaysia.

"With the opening of Tesco Extra in Penang and Seremban, two Makro stores have been converted and the remaining six will take place over the next couple of months," he said.

"Tesco Extra is good news for the Makro staff we have retained and they now can develop their careers within the Tesco Group."