KR1M 2.0 is a joke, best to ditch it - Mydin boss

Ameer Ali Mydin, the managing director of hypermarket chain Mydin, describes the Kedai Rakyat 1Malaysia 2.0 (KR1M 2.0) initiative as a joke.

Mydin had managed the first KR1M project which suffered more than RM100 million in losses due to the logistical cost of supplying subsidised goods to remote areas.

"There is no need (for KR1M 2.0). It's a joke. The name KR1M 2.0 is used for branding but there is nothing to show for.

"They sell sugar which is at most 5sen cheaper or flour for 10sen cheaper.

"Things aren't really that much cheaper so why the need for a second version?" he told Malaysiakini in an interview.

Ameer was asked to give his take on KR1M 2.0 which was initiated after the first KR1M programme was terminated in June 2017 following heavy losses.

Unlike the first version, which had dedicated shops to sell subsidised goods, KR1M 2.0 relies on existing mini-markets and hypermarkets, selling cheaper goods at these premises.

KR1M is an initiative by the previous BN government.

Apart from using existing premises, KR1M 2.0 also narrowed down its list of goods to rice, sugar, cooking oil, flour and Liquefied Petroleum Gas (LPG).

Domestic Trade and Consumer Affairs Minister Saifuddin Nasution Ismail had indicatedthat KR1M 2.0 will be retained but rebranded.

Ameer defended Mydin's management of the first KR1M against accusations that the hypermarket had sold items for much higher than market prices.

He said if that was the case, Mydin would not have suffered RM100 million in losses. -Mkini