SINGAPORE, March 26 — DFI Retail Group’s decision to divest its Singapore supermarket business has paved the way for Malaysia’s Macrovalue to expand its presence in the sector in the island nation.

The privately owned firm, co-founded by Datuk Andrew Lim and Datuk Gary Yap, acquired Cold Storage and Giant for S$125 million (RM413.8 million) on Monday, a price they described as reasonable and reflective of the business’s true value during an interview with The Straits Times published today.

They also confirmed that no debt was taken to fund the acquisition, the report added.

Lim and Yap emphasised that the deal represents a fair valuation of the supermarkets’ market position and growth potential.

“The price tag for the two brands in Singapore is reasonable and rational, as it fully reflects the value of the business,” they are quoted as saying.

Lim, a veteran in Malaysia’s supermarket industry, assured that operations at Cold Storage’s 48 outlets and Giant’s 41 outlets in Singapore will continue uninterrupted.

“It will be business as usual,” he said to ST.

He added that customers can expect an expanded range of products, better value for money, and fresher items sourced from Malaysia.

Macrovalue intends to leverage its existing logistics and supply chains to cut costs, allowing products that were previously air-freighted to be shipped in bulk at a lower expense.

Expansion is also on the horizon, with new Cold Storage outlets planned for emerging districts such as those near Lentor Modern in Singapore’s Upper Thomson neighbourhood.

According to ST, several banks in Singapore and Malaysia have already approached Macrovalue for potential funding, and Lim affirmed that the company is prepared to invest “as much as needed” to support growth.

The supermarket landscape in Singapore remains competitive, with FairPrice and Sheng Siong dominating key neighbourhoods, the report noted.

However, Lim said that Cold Storage has a loyal customer base seeking premium offerings.

“They will be able to find all these and enjoy better customer service as we open more Cold Storage stores,” he said, pointing to the brand’s long-standing presence and positive reputation in Singapore.

Beyond store expansion, Macrovalue aims to enhance customer service and staff training, ensuring higher productivity and a more personalised shopping experience.

“Besides price and range, Singapore customers wish for better service, like staff who can recognise them by name,” Lim said.

He also confirmed that there will be no retrenchments, and that human resource policies will be refreshed to provide employees with greater flexibility and work-life balance.