KUALA LUMPUR: Retailer, AEON Co(M) Bhd, which operates 30 stores in Malaysia, will invest RM240 million this year in a spanking new shopping mall-cum-retail store in Kulaijaya.
With a 430,000 sq feet floor space, the store is slated for completion in December.
With the opening of the new store, the company would have 31 stores nationwide," said Chairman Datuk Abdullah Mohd Yusof.
Plans are afoot to open new stores and locations have already been identified.
Abdullah also said the retail industry in the country remained very competitive as more entrepreneurs were aware of the healthy prospects and the rising demand for better shopping experience.
"AEON remains positive of its prospects and will continue to leverage on its competitive strengths and grow its business," he told a press conference after the company's annual general meeting.
Meanwhile, AEON Managing Director Nur Qamarina Chew said the company has allocated RM350 million for capital expenditure. Out of this, RM120 million has been set aside for the refurbishment of existing outlets. For a start, AEON would focus on the refurbishment of its Ipoh Kinta City outlet slated to be carried out after the Hari Raya festive season.
"We are also going to renovate the Bandar Puchong and Bandar Sunway outlets next year," she said, adding that AEON would focus on the refurbishment of one or two shopping mall-cum-retail stores, annually.
She said renovation and refurbishment was a continuous process in order tomaintain the freshness and sustainability of the shopping centres and stores.
"Stores need to be up-to-dated to offer a better experience for customers as lifestyles keep changing," said Nur Qamarina, adding that AEON, which had grown steadily over the years, remained committed to its mid-term strategy to solidify its position as the market leader. - Bernama
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