There is another aspect of positioning to this expansion in Malaysia. Once critical mass is achieved, can HVN roll out a franchising arrangement the same as in Australia, and would that be a more profitable arrangement for the risks involved? Probably they would look at NZ first. This is another embedded option within HVN. I'm a strong believer that franchising is a very motivating arrangement. The flagship concept could create some nice market awareness (and some business "glue" or "centre of gravity") for HVN to leverage off into franchising.
I wonder what the issues are re owning the stores, if they choose this path? Foreigners are allowed to own large properties in Malaysia.
Ann: Presentation of Results for FY18, page-13
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