The Covid-19 pandemic forced people to stay home and retail stores shut. A majority of the retail sub-sectors contracted by double digits, with the department store and fashion and fashion accessories segments shrinking the most at by 38.3% and 37.9% respectively.
In 4Q20, the retail sub-sector that was the worst hit was the fashion and fashion accessories segment, which contracted 49.6%. Another segment that was hit badly was the department store category, which slumped 44.7%, according to the Malaysia Retail Sales Report.
The deal may be done for between RM100 million and RM150 million.
Malaysian Association of Amusement Theme Parks & Family Attractions (MAATFA) president Tan Sri Richard Koh: The recent spike of Covid-19 is making the turtle retreat back into its shell. Just when people were feeling more confident about going out, this new spike reversed it. Attendance at theme parks and attractions have declined by between 40% and 90%, depending on state and the number of Covid-19 cases there
Located in Damansara Heights, Kuala Lumpur, Menara Millenium and Plaza Batai, which are owned by SPB are believed to have attracted investors’ attention to acquire the properties at current time with the expectation that prices will reduce due to weak economic condition.
This year has been the worst period for retailers in Malaysia since 1987. The retail market turned into a bloodbath since the middle of March with the implementation of the MCO
Alleging that AEON BiG has made “an inaccurate unilateral interpretation” of the stay order, Mega Continental said: “Any subsequent acts by AEON BiG in dealing with the seized goods may therefore be contempt in the face of court.”
High Court in Alor Setar had allowed the company’s application for a stay of execution of the judgment in default dated June 9.
The action was taken by Mega Continental Sdn Bhd, which is a unit of Penang-based Belleview Group.
“The Ramadan month has always been a F&B income generator, with most prominent hotels catering to 'buka puasa' buffet for corporate clients as well as families,” said Malaysian Association of Hotels (MAH) chief executive officer Yap Lip Seng.