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
