
How a RM2.60 pricing strategy will make Eco-Shop's Lee a billionaire through Malaysia's biggest IPO of 2025
KUALA LUMPUR, May 22 — Eco-Shop Marketing Bhd, a discount chain with over 350 stores across Malaysia, is set to go public in Kuala Lumpur on Friday in the country's largest IPO of the year.
The listing will value the company at about RM6.38 billion, giving founder and managing director Datuk Seri Lee Kar Whatt a RM4.9 billion stake, according to the Bloomberg Billionaires Index.
The company's rapid growth — with revenue rising over 50 per cent in two years — underscores strong demand for low-cost goods amid rising inflation, Bloomberg reported.
'Fixed-price retailers became a first choice,' said Ng Zhu Hann, founder and chief executive officer of Tradeview Capital, in an interview. He was referring to Eco-Shop's fixed RM2.60 price for all items sold in its Peninsular Malaysia outlets.
Lee co-founded the first store in 2003 with his brother and two others, and still operates from the company's headquarters in Jementah, Johor.
Ng noted that Eco-Shop competes with established players such as Mr DIY Group (M) Bhd, as well as newer entrants led by entrepreneurs from mainland China.
In its prospectus, Eco-Shop stated that it sees ample growth potential and aims to open around 70 new stores each year over the next five years.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Free Malaysia Today
3 hours ago
- Free Malaysia Today
Tiger Balm offering football fans a chance to catch Bayern Munich live
Haw Par Malaysia country manager Yvonne Teh (in white shirt) and DKSH Malaysia Sdn Bhd's Pharmaceuticals & Consumer Health senior general manager Caryne Au unveiling the Legendary Together 3v3 Tournament trophy, watched by (from left) former national footballers Khairul Fahmi Che Mat, Zainal Abidin Hassan, Soh Chin Ann, Santokh Singh and Zaquan Adha Abdul Radzak. KUALA LUMPUR : Tiger Balm is organising a three-on-three futsal tournament which will see participants compete for the grand prize – an all-expense-paid trip to watch FC Bayern Munich live at Germany's iconic Allianz Arena. The Legendary Together 3v3 Tournament, launched today at MyTOWN Shopping Centre here, will run until June 15. Yvonne Teh, country manager of Haw Par Malaysia, Tiger Balm's parent company, said they decided to collaborate with the most successful club in Germany due to their shared values. 'We're united by values of performance, recovery, and unwavering discipline as well as values every athlete, in every sport, can relate to. 'That's why this partnership with FC Bayern Munich is so meaningful,' she said. Teh said the decision to invite former national footballers Soh Chin Ann, Santokh Singh, Zainal Abidin Hassan, Khairul Fahmi Che Mat and Zaquan Adha Abdul Radzak to the launch was because the company wanted to pay tribute to players who help inspire the younger generation. Members of the media testing out the court where all teams will be competing on. She also said the tournament, which will be held at the MyTOWN Shopping Centre, is aimed at promoting a healthy lifestyle. She emphasised that Tiger Balm has long been dedicated to promoting recovery and movement, catering to both elite athletes and everyday joggers. 'Tiger Balm provides safe and effective relief for sore muscles, joint aches or pains,' she said.


The Sun
6 hours ago
- The Sun
Russia-Malaysia relations gaining new momentum, says Ambassador
KUALA LUMPUR: Malaysia remains a longstanding, reliable, and valued partner of Russia, with bilateral ties gaining renewed momentum, said Russian Ambassador to Malaysia Naiyl M. Latypov. Speaking at a reception marking Russia's National Day in Kuala Lumpur on Wednesday, Latypov said Prime Minister Datuk Seri Anwar Ibrahim and President Vladimir Putin had held extensive and constructive discussions during Anwar's recent visit to Russia. 'This intensification of dialogue at the highest level clearly reflects the upward trajectory of our bilateral relations. Our cooperation spans a wide range of areas – from trade, investment, and energy, to tourism, education, and cultural and humanitarian exchange. 'It is my hope that the motion along this trend will accelerate further, bringing more benefits to our nations,' he said. Minister of Plantation and Commodities Datuk Seri Johari Abdul Ghani represented the government at the event. Also present was Minister of Agriculture and Food Security Datuk Seri Mohamad Sabu. According to Latypov, Russia-Malaysia cooperation is grounded in mutual respect and shared benefit, with both countries consistently striving to understand one another's perspectives and to act as true partners. 'Our leaders' exchanges on regional and international matters have shown that the positions of Russia and Malaysia are closely aligned. 'Both of our countries are firm in upholding the principles of international law, sovereignty, and non-interference in internal affairs. We also coordinate effectively at multilateral platforms, including the United Nations,' he stated. As Malaysia holds the ASEAN Chairmanship this year, Latypov said Russia places great importance on its dialogue with the Association. ASEAN's centrality is founded on inclusiveness, transparency, and equality – with full respect for the identity and interests of all its members, he added. On BRICS, Latypov said Russia is committed to supporting Malaysia's smooth and effective participation in all BRICS partner formats. On Russia's national day, he noted this year holds special significance for Russians as the country solemnly marks the 80th anniversary of the end of the Great Patriotic War and the Second World War. Russia-Malaysia's diplomatic relations was established in 1967 making it nearly six decades this year. During Anwar's four-day official visit to Russia last month, Putin stated bilateral ties are developing successfully and progressively, with both sides expressing strong interest in making the cooperation more substantive and transparent.


The Sun
6 hours ago
- The Sun
Russia, Malaysia ties strengthen with high-level dialogue
KUALA LUMPUR: Malaysia remains a longstanding, reliable, and valued partner of Russia, with bilateral ties gaining renewed momentum, said Russian Ambassador to Malaysia Naiyl M. Latypov. Speaking at a reception marking Russia's National Day in Kuala Lumpur on Wednesday, Latypov said Prime Minister Datuk Seri Anwar Ibrahim and President Vladimir Putin had held extensive and constructive discussions during Anwar's recent visit to Russia. 'This intensification of dialogue at the highest level clearly reflects the upward trajectory of our bilateral relations. Our cooperation spans a wide range of areas – from trade, investment, and energy, to tourism, education, and cultural and humanitarian exchange. 'It is my hope that the motion along this trend will accelerate further, bringing more benefits to our nations,' he said. Minister of Plantation and Commodities Datuk Seri Johari Abdul Ghani represented the government at the event. Also present was Minister of Agriculture and Food Security Datuk Seri Mohamad Sabu. According to Latypov, Russia-Malaysia cooperation is grounded in mutual respect and shared benefit, with both countries consistently striving to understand one another's perspectives and to act as true partners. 'Our leaders' exchanges on regional and international matters have shown that the positions of Russia and Malaysia are closely aligned. 'Both of our countries are firm in upholding the principles of international law, sovereignty, and non-interference in internal affairs. We also coordinate effectively at multilateral platforms, including the United Nations,' he stated. As Malaysia holds the ASEAN Chairmanship this year, Latypov said Russia places great importance on its dialogue with the Association. ASEAN's centrality is founded on inclusiveness, transparency, and equality – with full respect for the identity and interests of all its members, he added. On BRICS, Latypov said Russia is committed to supporting Malaysia's smooth and effective participation in all BRICS partner formats. On Russia's national day, he noted this year holds special significance for Russians as the country solemnly marks the 80th anniversary of the end of the Great Patriotic War and the Second World War. Russia-Malaysia's diplomatic relations was established in 1967 making it nearly six decades this year. During Anwar's four-day official visit to Russia last month, Putin stated bilateral ties are developing successfully and progressively, with both sides expressing strong interest in making the cooperation more substantive and transparent.