Looking for daily essentials? For many Malaysians, 99 Speed Mart is the go-to choice.

Whether you're in the busy city or quiet towns, chances are you’ve seen those familiar green and orange storefronts.

Today, 99 Speed Mart has over 2,600 stores across Malaysia.

But did you know it started as a roadside stall? Here’s how 99 Speed Mart grew from a roadside stall to become one of Malaysia’s largest convenience store chains.

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🌱 Humble beginnings

The story of 99 Speed Mart began in Klang, Malaysia, with a young man named Lee Thiam Wah.

Thiam Wah’s life started tough.

He got polio as a child, which left him unable to walk permanently. Money was tight for his family.

His father, a construction worker, and mother, a hawker, had 11 children and could only afford to send him to school for six years.

From a young age, Thiam Wah was determined to help his parents support the family. But it was tough for him to get a job.

"Nobody would hire me due to my physical limitations," he recalled in a 2012 interview with Forbes. "I had to help myself."

At just 14, he began selling snacks from a stall outside his family’s home, learning the ropes of running a business and saving what he could.

Over the years, his persistence paid off, allowing him to save RM17,000 by age 23 to start a sundry shop, Pasar Raya Hiap Hoe, in Klang.

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🚀 If not 100, then 99

In 1992, Thiam Wah took a bold step and opened a mini-mart called Pasar Mini 99.

He had a vision: to build a network of mini-marts that would serve everyday needs at fair prices.

By 1998, he had expanded to eight outlets around Klang, building a reputation for affordable products and friendly service.

“We chose the number 99 because it implies that even though we are not perfect, we still aim to offer our customers the best services and products we have at a competitive price,” he explained.

This commitment to constant improvement would become central to 99 Speed Mart’s identity.

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🔑 Building trust with customers and suppliers

Thiam Wah’s focus was clear: offer the best prices without sacrificing quality. To achieve this, he made strategic sacrifices in profit margins to keep prices low, earning the trust of customers and suppliers alike.

Suppliers valued his reliable trade practices, and customers appreciated the value he offered.

He carefully stocked high-turnover goods, offering popular items in smaller, affordable sizes that suited everyone from busy city dwellers to families in rural areas.

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🛒 Near-and-Save

In 2000, Thiam Wah rebranded Pasar Mini 99 to 99 Speed Mart, doubling down on his goal to reach customers everywhere.

Expansion was rapid and relentless; by 2008, 99 Speed Mart had over 100 stores, establishing itself in neighborhoods across the nation with its "near-and-save" approach.

99 Speed Mart's commitment to affordability and convenience was recognized with several Consumer Choice Awards from 2006 to 2009.

The chain continued to grow quickly, reaching 300 stores by 2011 and 500 by 2013, averaging nearly two new outlets per week.

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🌟 More than just a convenience store

Today, 99 Speed Mart is more than a convenience store. It’s woven into the daily lives of millions of Malaysians.

In 2023, they launched “99 Bulksales,” an online platform designed for consumers and businesses to buy in bulk, further extending their reach and services.

On September 9, 2024, a fitting date for the brand, 99 Speed Mart Retail Holdings Bhd made its debut on the Kuala Lumpur stock exchange with a $531M Initial Public Offering, Malaysia’s largest in seven years.

This milestone set the IPO price at RM1.65 ($0.38) per share, placing Thiam Wah among the top business figures as Malaysia's 8th richest person.

Beyond convenience stores, Thiam Wah has expanded into sectors like F&B and banking.

He is a significant shareholder in Alliance Bank Malaysia Bhd, holding a 5.076% stake, and owns Burger King in both Malaysia and Singapore.

The story of 99 Speed Mart and Thiam Wah is a powerful example of resilience, hard work, and a vision for bringing quality products closer to Malaysian homes.

From a small roadside stall to a nationwide retail leader, 99 Speed Mart continues to stand as a testament to what determination can achieve, inspiring entrepreneurs to pursue their dreams no matter the challenges.