Jakarta. Indonesian sportswear retailer MAP Aktif Adiperkasa (MAPA) has agreed to acquire Sports Direct Malaysia Sdn. Bhd. from Frasers Group Trading Ltd. for $148.9 million (Rp 2.67 trillion), expanding its footprint in Southeast Asia.

MAPA said on Wednesday that its Singapore-based subsidiary, Athletica International Holdings Pte. Ltd. (AIH), signed a share purchase agreement on June 29 to acquire 100% of Sports Direct Malaysia, comprising 1 million shares, from Frasers Group Trading.

The transaction, valued at approximately Rp2.5 trillion based on an exchange rate of Rp16,825 per U.S. dollar, represents about 28.3% of MAPA's equity as of the end of 2025.

As part of the agreement, MAPA will provide a corporate guarantee for AIH's obligations to the seller and grant retail operating rights to Sports Direct Malaysia.

The acquisition is aimed at accelerating MAPA's regional expansion strategy by strengthening its ability to develop and operate Sports Direct and USC branded stores outside Indonesia.

The company already holds the rights to open and operate Sports Direct and USC outlets in Indonesia and several other Southeast Asian markets.

"The acquisition of Sports Direct Malaysia is aligned with the company's business plan to expand and operate Sports Direct and USC stores across the region," MAPA said in a statement.

The company expects the deal to strengthen its financial performance by generating additional revenue and earnings from operations outside Indonesia.

As of December 2025, MAPA reported total assets of Rp14.18 trillion and equity of Rp8.84 trillion.

The acquisition marks one of MAPA's largest overseas investments to date as the retailer seeks to expand its regional presence amid growing consumer demand for international sports and lifestyle brands across Southeast Asia.

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