KUALA LUMPUR: Malakat Mall, a new shopping mall in Cyberjaya that will start operations in March, targets to achieve a revenue of RM300 mil in its first year of operations.
To meet the revenue target, the shopping mall, owned by Malakat Mall Sdn Bhd, today signed another three strategic cooperation agreements with five Bumiputera companies that offer various products at the premises.
The companies are sports apparel and equipment outlet Tahan Sports; local brand name Sportsrevo owned by the former captain of the national football team Safiq Rahim; Capo Apparel; Tun Teja Salon and Beauty Centre; and traditional beauty products producer Safah Herbs.
Based on a self-contained mall concept housing three levels of retail space, Malakat Mall offers 48 retail lots, with Raudhah Grocer as its anchor tenant, besides featuring other components such as food and beverage outlets, clothing stores as well as information technology outlets.
In a statement today, Malakat Mall Sdn Bhd CEO Mohd Fadzil Hashim said the company was confident that the mall would successfully create a market component in the Bumiputera economy ecosystem through the promotion of Bumiputera-owned businesses that are of high quality.
“Besides being one of the measures taken to change the Bumiputera economy ecosystem, Malakat Mall is also seen as a business transformation centre whereby it offers bulk sales services and act as a centre for local brand names, thereby reducing their operation cost,” he said.
Mohd Fadzil said of the national retail spending of RM100 bil, only 8% goes to the Bumiputera and 60% to foreign entities.
“The objective of Malakat Mall is to grab at least 30% of the nation’s retail spending and channel it to businesses, local consumers and the Bumiputera community,” he said. – Feb 5, 2020, Bernama