KUALA LUMPUR (Feb 15): Bison Consolidated Bhd, which operates its home-grown press and convenience retail chain my.NEWS.com, does not have any plans to expand further overseas at the moment.

Bison currently has over 320 my.NEWS.com stores nationwide, and two outlets which it licensed out at the Yangon International Airport in Myanmar.

The group has previously said it plans to set up 70 more outlets this year, but clarified that all will be concentrated within Malaysia.

"We have no plans to expand the my.NEWS.com brand outside of Malaysia for now. There is so much for us to do here currently," said Bison chief executive and executive director Dang Tai Luk during a new product and service launch ceremony today.

"But, if we see good opportunities for us to extend our products and services overseas anyway, we will not say 'no'," Dang said.

Bison today launched its new product offering, the PGEON postal service, in partnership with web-based parcel consolidator and e-commerce shipping solutions provider EasyParcel Sdn Bhd.

PGEON is EasyParcel's latest offering which provides customers with options to drop off or collect their parcels at any my.NEWS.com outlets.

While Dang did not disclose how much PGEON would contribute to the group's revenue moving forward, he said that the new service would increase my.NEWS.com's customer volume.

Commenting further on the group's outlook moving forward, Dang said while consumer sentiment remains weak amid a weaker economy, this year remains promising for the group as it is on track to hit its goal of bringing the total number of stores to about 400.

Bison has set aside RM14 million in capital expenditure for the expansion plan.

When asked on how the weakening print media industry has impacted the group as it distributes print newspapers, Dang said total revenue contribution from this segment has tumbled from 90% to 6% currently.

"Technology advancements (the transition from print media to digital media) is something that is beyond anyone's control. But with what we have in our portfolio, we are well-positioned to weather the storm and continue doing well," he said.

Food and beverage is Bison's main revenue source, contributing 39% to its topline. This is followed by tobacco products, accounting for 35% of overall revenue.

At 12.15pm, Bison's share price stood at RM1.83, valuing it at RM567.43 million.