MST Golf Group Berhad, Malaysia’s largest golf retailer has signed an MOU with Indonesia’s PT Sinar Eka Selaras, a leading provider of multi-brand retail and distribution solutions marking the brand’s maiden entry into Indonesia.
Under the MOU, the parties intend to collaborate and create a joint venture company to undertake the establishment and operation of golf retail business and indoor golf centres under the brand name “MST GOLF” and “MST GOLF ARENA” brands respectively.
This will leverage both partner’s expertise with MST Golf’s golf retail experience and its established brand as a golf specialist retailer, as well as Erajaya Active Lifestyle’s track record and reputation as Indonesia’s leading retailer of consumer and active lifestyle products. Erajaya Active Lifestyle owns and operates leading retail brands for lifestyle gadgets, the Internet of Things (IoT) and its ecosystem, smarthome, sports fashion, diving and others. The business is under PT Erajaya Swasembada Tbk a public listed company on the Indonesia Stock Exchange with net sales of USD3.3 billion recorded in its financial year ended 2022. It has a strong distribution network that connects more than 1,700 retail stores and 89 distribution centres across the region, supported by a formidable logistics and integrated supply chain.
“We are thrilled to be partnering with Erajaya Active Lifestyle to bring our passion for golf and retailing to the Indonesian market. The Erajaya Group is well-established and respected in Indonesia, and its complete retail business infrastructure and extensive local knowledge will contribute tremendously to the setting up the MST Golf brand in Indonesia,” said Ng Yap, Executive Director and Group Chief Executive Officer of MST Golf.
The expansion into Indonesia is part of MST Golf’s key business strategies and growth plan to expand into new geographical markets.
MST Golf has submitted its initial public offering application to the Securities Commission Malaysia and is seeking to list on the Main Market of Bursa Malaysia Securities Berhad. Subject to the authority’s approval, proceeds raised from the IPO have been earmarked for, among others, MST Golf’s expansion into new geographical markets namely Indonesia, Thailand, and Vietnam.
