PETALING JAYA: MST Golf Group Bhd, the largest specialised retailer of golf equipment in Malaysia, today signed a memorandum of understanding (MoU) with PT Sinar Eka Selaras, a leading provider of multibrand retail and distribution solutions in Indonesia with the vertical name of Erajaya Active Lifestyle, marking MST Golf’s maiden golf retailing foray in Indonesia.
The MoU sets out the parties’ intention to collaborate and create a joint venture company (JVC) 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. MST Golf executive director and group CEO Ng Yap said, “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.”
The expansion into Indonesia is part of MST Golf’s key business strategies and growth plan to expand into new geographical markets.
Erajaya Active Lifestyle chief executive director Djohan Sutanto said, “We are very pleased to partner with MST Golf to expand its retail reach in Indonesia. This collaboration is in line with Erajaya Active Lifestyle’s growth strategies and focus on the active lifestyle space. We have successfully established ourselves as the leading player in this space, which, coupled with our parent company’s decades of experience in the retail segment, make us a formidable retail force in Indonesia,”
MST Golf has submitted its initial public offering (IPO) application to the Securities Commission Malaysia and is seeking to list on the Main Market of Bursa Malaysia Securities. 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.