KUALA LUMPUR (Oct 6): Business process outsourcing solutions provider Advance Information Marketing Bhd (AIM) plans to diversify into the franchise retailing business of pharmaceutical products and services. AIM said its wholly owned subsidiary Advance Medipharm Solutions Sdn Bhd has entered into a five-year franchise agreement with Mediconstant Holding Sdn Bhd to obtain the right to operate Constant Pharmacy outlets. The initial franchise fee is RM50,000 while another RM300,000 is required for initial product purchase for every outlet, AIM said in a filing with Bursa Malaysia. The group said it will fund the franchise fee and initial startup costs via internally generated funds and bank borrowings. Shares of AIM closed unchanged at seven sen apiece on Thursday, giving it a market capitalisation of RM18.62 million.

Source: The Edge Markets October 06, 2022 20:09 UTC