From Earlier: RadioShack Announces Southeast Asia Expansion With Berjaya Master Agreement

RadioShack Corp.

and Berjaya Retail Berhad, a Malaysian retail group with diverse franchised brands, have signed a master development agreement that substantially expands RadioShack's global footprint across 10 Southeast Asian countries. Under the long-term agreement, Berjaya Retail (Cayman) Limited as franchise developer is expected to open at least 1,000 franchise locations across the Association of Southeast Asia Nations within the first 10 years. Its subsidiary in Malaysia, Berjaya RS Sdn. Bhd., expects to open its first RadioShack locations later this year in Kuala Lumpur. Berjaya Retail Berhad is owned by the major shareholder of Berjaya Corporation, which reported combined revenues of $7.06 billion (

) across its holdings in fiscal year 2011. The Berjaya relationship represents RadioShack's single largest franchise expansion to date and offers the potential to nearly double the number of RadioShack's total dealer-franchise locations worldwide, eventually increasing the Company's global footprint to 39 countries.