Mydin confident of hitting RM3.8bil sales this financial year

Mydin Mohamed Holdings Sdn Bhd managing director Datuk Dr Ameer Ali Mydin showing the different variety of festive attire available at Mydin.

SEREMBAN: Mydin Mohamed Holdings Bhd (Mydin) is confident of achieving its sales target of RM3.8bil for the financial year (FY) ending March 31, 2017, supported by the opening of seven hypermarkets nationwide. 

Managing director Datuk Ameer Ali Mydin said the company recorded sales of RM3.5bil in the financial year ended March 31, 2016, up from RM3.2bil in the same period in 2015. 

“The sales volume at existing outlets cannot expand further under the current economic situation due to the depreciation of our currency. 

“We import many items and it has nothing to do with the goods and services tax,” he told the media after opening a Mydin hypermarket in Senawang on Friday. 

Ameer Ali said plans were afoot to open Mydin hypermarkets in City Samariang, City One and Vista Tunku in Kuching; Pulau Sebang on the Malacca side of Tampin, and Taman Batin in Kedah. 

Besides the launch of a hypermarket in Senawang, Mydin had opened another hypermarket in Bukit Mertajam, Penang. 

“It’s the best opportunity to open new hypermarkets during economic downturn,” he said.
Mydin so far has 320 outlets made up of mini markets, supermarkets and hypermarkets nationwide. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

Warren Buffett resigns from Gates Foundation, has donated half his fortune
Binasat buys majority stake in solar contractor for RM18.36mil
Lalamove files confidentially for US$1bil US IPO
Serba Dinamik to decide on independent review scope on Friday
Scientex posts higher Q3 earnings, says Covid-19 lockdown to impact project billings�
FBM KLCI in the red as key heavyweights weigh
Singapore’s GIC buying 16% stake of Sunway Healthcare for RM750m
Moody's affirms Cagamas' A3 ratings; outlook stable
MGS yield curve steepened on lockdown due to infections surge
Euro zone business growth at 15-year high as demand unleashed -PMI

Stories You'll Enjoy