A Malaysian company plans to open within the next decade at least 1,000 new stores in southeast Asia from Texas-based consumer electronics retailer RadioShack Corp.
Berjaya Retail Berhad, a company controlled by one of Malaysia's richest men, Vincent Tan, has entered into a franchising agreement with the Fort Worth-based company.
The Fort Worth Star-Telegram reports Tan's company plans to open the first RadioShack in Kuala Lumpur, the Malaysian capital, later this year.
The agreement calls for RadioShack to also expand into other countries, including the Philippines, Indonesia, Singapore, Cambodia and Vietnam. Financial terms of the deal were not disclosed.
RadioShack has 515 stores around the globe, including in Mexico, Haiti, Saudi Arabia, Colombia, Egypt, El Salvador and Peru.
