Aeon looking at further malls expansion

  • Business
  • Thursday, 07 Sep 2017

For FY2014, AEON occupied two new malls, opened one new department store and refurbished seven existing department stores at a total cost of about RM670mil.

JOHOR BARU: Aeon Co (M) Bhd is looking at opening one or two more malls in Peninsular Malaysia in the next three years following improved consumer sentiments in the Malaysian retail market since last year.

Its executive director Poh Ying Loo said the company has opened 27 malls nationwide with the latest one launched in Bandar Dato' Onn on Thursday, the sixth mall in Johor Baru.

"We will be opening one in Kuching in the second quarter of next year. In the next three years, one or two more locations which will be in West Malaysia, but we can't reveal the details at the moment,” he told reporters after the opening ceremony of Aeon Mall Bandar Dato' Onn.

The new Aeon Mall was officiated by the company's chairman Datuk Iskandar Sarudin.

He said the company would be investing more than RM300mil for the Kuching mall, about the same as the investment in Bandar Dato' Onn.

Poh said the company remains optimistic about the retail market in Malaysia amid the challenging landscape since last year as consumers have become more cautious in spending.

"(But) generally, I think we see some slight improvement in (consumer) sentiment as compared to last year. We think going forward, even though it will be more players in the market, I think it should be enough for now for our business opportunities," he said.

At the moment, he said the company is one of three leading retail players on the local market.

Aeon Mall Bandar Dato' Onn, which is located within 25 minutes from Johor Baru town centre comprises a built up-area of over 1.2 million sq ft and has about 600,000 sq ft of net lettable area to house 150 retail outlets, offering more than 500 jobs. - Bernama

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