Asfa Fortune is an importer and distributor of wholesale commodities with their primary focus on essential products for cooking. Asfa Fortune is able to ensure a steady stream of revenue with a constant demand for its products by tapping on the retailers in rural areas which consists of traditional stores and provincial sundry shops which make up the largest number of food retailers in Malaysia today.*
What We Do
Rural small traditional stores and provincial sundry shops struggle to access quality wholesale items at a competitive price (especially on imported products) within reach. They will have to travel far to acquire such products from hypermarkets and other wholesalers such as Tesco and Mydin - accessible only in cities and bigger towns.
The transport cost in itself therefore deprives local and rural entrepreneurs of their profit margin, unable to transfer the cost itself to rural buyers. Accessibility to distributors of these wholesale products at a competitive price posed as a challenge to local and rural entrepreneurs to thrive.
Asfa Fortune’s strong relationship with its suppliers allows for the importation of the products at a much competitive price. The main business focus is on the distribution and supplying of wholesale products to small traditional stores and provincial sundry shops in rural areas, a market that is relatively untapped and fragmented. Leveraging on competitive price as well as services ranging from warehousing and delivery, Asfa Fortune is able to cater to a wide range of rural based customers including restaurateurs.
Asfa Fortune’s business model bodes well with the Government’s introduction of ‘Small Retailers Transformation Programme’ (TUKAR) that aims to facilitate the modernisation of at least 5,000 traditional sundry shops.
Asfa Fortune primary products are onion, garlic, dried chilli, potato, cooking oil. We also sell value added products such as chilli paste and chopped onion.
Why Are We Different
Dedicated to Servicing Provincial and Rural Areas
We are dedicated to servicing staple supplies to wholesalers, small traditional stores and provincial sundry shops in rural areas at a competitive price
Offer Last Mile Delivery
We offer a simple solution to the limited access and reach in product distribution to provincial shops, with last-mile delivery services to our customers
Tight-knit Ecosystem of Partners
Our exclusive relationship with suppliers allow us to offer competitive pricing
Focused Range of Quality, High Demand Products
We are focused on bringing quality, basic and staple products that will be in constant demand
Our Revenue Model
Asfa Fortune fortune’s main business is essentially consolidating the role between suppliers (exporters of products) directly to the customers, removing layers of intermediaries that usually drives up the cost.
As a predominantly cash-based business. Hence Asfa Fortune handles its cashflow by offering firm payment terms for buyers accompanied by a more flexible terms with its suppliers. All customers pay up-front (up to 30% of any purchase order) and 100% upon fulfillment of the consignment.
1. Wholesalers, Small Traditional Stores & Sundry Shops
A bulk of our sales go through supplying wholesalers, convenient stores and sundry shops in provincial and rural locations, which buy in volume. We gain roughly 15% profit from the sales.
Restaurants as well as small food stalls is also one of our stable and returning customers with fixed consignments. Though this is not our main revenue, the relatively quick turnover with sizeable volume ensures continuous sale.
3. Direct to Consumers
We charge a higher margin to consumers with smaller purchases. Currently we make a hefty profit margin of up to 50 % on sales direct to consumers
Our Market Opportunity
According to a report by USDA Foreign Agricultural Service on Malaysia Retail Foods (2017), close to 56% of the total food retail food sales in Malaysia is channeled through traditional stores, grocery stores and other sundry which is the main constituent of Asfa Fortune’s customers.
Carving out from the total of Malaysian Wholesale Trade industry, Asfa Fortune’s current business growth is on track to capture this market. With the average profit margin of 20% on all products sold, Asfa Fortune is able to generate a healthy profit of RM2 to RM4 million a year.
|Malaysia’s Total Fresh vegetables Import (p.a) *
|Small Food Retail (provincial & sundry shops)
|Average No. of purchases retailers (p.a)
|Total purchases by consumer (p.a) **
|Target Market (10%) - Melaka, Penang, Johor, Perak, Kedah, Sabah, Sarawak
|Asfa Fortune’s profit margin @ Average of 20%
||RM 2 - RM 4 million (p.a.)
- Introduce value added goods to existing products - to manufacture chilli paste and chopped onions with own brand and packaging
- Secure JV partners in the state of Selangor, Perak, Kuala Lumpur & Kedah
- Initiate and secure International JV in Indonesia focusing to Medan market.
- Advertise Asfa Fortune branding in local and rural radio station
- Acquire distribution license for cooking oil and processed sugar
- Repackage and brand processed sugar and cooking oil
- Acquire import and distribution license for basmathi rice'Secure JV partners in the state of Johor, Sabah & Sarawak.
- Start to market own Asfa Fortune’s rebranded/repackaged products
- Repackage and brand basmathi rice and chopped chicken
- Secure JV partners in the state of Pahang, Terengganu, N. Sembilan & Kelantan
- Secure International JV in Batam, Bukit Tinggi and Dumai.
Currently, Asfa Fortune has 500 paying customers which is predominantly businesses and retailers (B2B). Having established operations only in Melaka and Penang alone, Asfa Fortune has secured orders amounting to just under RM3.9 million worth of revenue annually.
Asfa Fortune has also secured the certificate of conformity of agricultural produce for the import from its suppliers based in India, Pakistan and China.
Indicative Usage of Funds
Sales & Marketing
Pushing out Asfa Fortune’s brand visibility through major local radio advertisements
Purchase of machinery (packaging and chopper) for onions and other value added products
Rolling capital for the purchase of imported products from suppliers
Admin & Operations
Workers and administrative staff expansion from 3 to 5 resources
Rental of a warehouse and administrative office
Investor Exit Strategy
For investors in Asfa Fortune Sdn Bhd, we intend to commit a 10% dividend payout every 6 months, from year 2020 onwards.
How Can I Invest?
Option 1 :
Investments can be done directly through this page by clicking on the ‘INVEST’ button.
Option 2 :
Alternatively, investments can also be made by depositing directly to the trustee account through :
For Option 2, please contact [email protected] to complete the investment process.
Norehan Binti Taha
Norehan have a long list of experience in the construction industry covering project management to handling resources. She left the industry, bringing together with a the wealth of experience to manage the wholesaling of food products which suits her background and personality. Norehan have successfully built the business from being an enterprise to a Sdn Bhd with an enviable growth.
Zambri Bin Kasim
Hailing from the hospitality industry, Zambri has built reputation for handling clients with utmost professionalism. He is now overlooking the process and operations for Asfa Fortune, dealing with both customers and suppliers.