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The Rise of SpeedMartPosted by DotchaJuly 7, 2010 at 6:35 pm There's a Chinese belief that sons born in a Year of the Dragon are highly desirable because Dragons are powerful people who will lead extraordinary lives. This could explain wheelchair-bound Lee Thiam Wah, born in Dragon year 1964. In Klang, the bustling port city of Peninsular Malaysia, he's called the King of Mini-Marts.
Streets there are replete with bold green-and-orange 99 Speedmart signs. For now Klang is where Lee has most of his 175 stores, which bring in better than $150 million annually and employ 2,000 people. This is a drop in the ocean compared with what hypermarkets and convenience stores like 7-Eleven do in Malaysia alone, but he is giving them a run for the money in this cutthroat business.
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