Covid-19: Some retailers 'likely to fold'
KUALA LUMPUR (May 18): It will be a very bad year, especially for retailers who depend on the foreign tourists, The Edge Malaysia reports.
Retail, hospitality sectors may see 15-20% closure
KUALA LUMPUR (May 9): The retail and hospitality sectors were among those that have been badly hit as travel had come to an almost complete halt due to Covid-19, The Edge reported today.
Malaysian retail malls' occupancy at 79% in 2019, offices at 81%
PETALING JAYA (April 29): The shopping complex or retail property sector's performance was stable last year, recording an overall occupancy rate of 79.
Analysts upbeat on Sime Darby disposal of loss-making Tesco, say proceeds could be distributed as dividends
KUALA LUMPUR (April 23): Sime Darby Bhd’s plan to sell its 30% stake in Tesco Stores (Malaysia) Sdn Bhd for RM300 million is seen as positive by analysts who say this would allow the group to exit its loss-making hypermarket business.
Sime Darby expects RM270m net gain from Tesco Malaysia stake sale
KUALA LUMPUR (April 22): Sime Darby Bhd has inked a deal to sell its 30% stake in Tesco Stores (M) Sdn Bhd for RM300 million.
CNY, Hari Raya and surge in grocery shopping won’t avert first retail contraction in 22 years
KUALA LUMPUR (April 14): Malaysia is expected to see its first retail sales contraction in 22 years at 5.
COVID-19: HK celebrity Nicholas Tse slashes shop rental by more than 60% to help tenant
PETALING JAYA (March 31): The COVID-19 pandemic has severely impacted the Hong Kong retail industry, but some of the landlords there have reduced rental to help their tenants survive the outbreak.
Sunway grants 14-day free rent to non-essential retailers
KUALA LUMPUR (March 23): Sunway Malls, the retail division of Sunway Group Bhd, is offering RM20 million rent free to non-essential retailers for the 14-day movement control order (MCO) period.
Parkson's William Cheng voices concerns on business prospects
KUALA LUMPUR (March 20): Parkson Holdings Bhd’s executive chairman Tan Sri William Cheng said the retail group is currently in uncharted territory and he could not gauge the adverse impact brought by the COVID-19 outbreak and the nationwide Movement Control Order (MCO).
Expect many retail shops to close down in coming months
PETALING JAYA: Malaysia could expect many retail shops, especially in tourist-dependent areas in the country, to close down due to the impact of the recent COVID-19 outbreak coupled with economic and political turmoils in the country.
