SECTION 2: OUR STRATEGIC CONTEXT 26 BUSINESS REVIEW MST Golf operates a few key business segments, each contributing to the company's overall performance. These segments are outlined below with key aspects and initiatives undertaken by each segment in FYE2023. MST Golf operates as a golf specialty retailer offering a wide range of golf equipment, accessories, apparel and footwear. As the primary business focus, the segment is looking to expand its retail presence and into new geographical areas. About the Segment Initiatives • Strengthen existing retail presence in Malaysia and Singapore. • Plans to replicate successful business model into new geographical areas (Indonesia, Vietnam, Thailand). • Actively pursued new brands and distributorships. Outcomes • Opened our first premium golf retail store, MST Golf Premium at The Starhill KL. • Opened two retail stores – Seremban Gateway and Plaza Shah Alam and two with indoor golf at Gurney Paragon Mall, Penang and Toppen Shopping Centre, Johor. • Opened our first store in Indonesia at La Piazza, Summarecon Mall Kelapa Gading, Jakarta. • Secured brand distributorships for LA Golf, Blue Tees, Sun Mountain and Rapsodo. 1 RETAIL As the distributor for some of the key global golf brands, MST Golf wholesales selected brands and products to key retailers in Malaysia, Singapore and Indonesia. The key wholesale market for the Group is Indonesia, where MST Golf Retail had no presence prior to our retail foray. About the Segment Initiatives • Expanding brands and product offerings to existing dealers. • Seeking more brand distributorships with wholesale potential. • Visiting and explaining to dealers in Indonesia that our wholesale business would continue as usual after opening MST Golf retail stores in Indonesia. Outcomes 2 WHOLESALE • Expanded additional apparel and footwear brands to dealers in Malaysia. • The decrease in orders from Indonesia dealers post-Covid and concerns of MST Golf opening retail stores in Indonesia are minimised. MANAGEMENT DISCUSSION & ANALYSIS
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