News: AEON is NOT Closing Their Outlet in Quill Mall

Oct 10, 2017

 
AEON Co has disproved rumours that it’s planning to close its supermarket at Quill City Mall in Kuala Lumpur for lagging behind its competitors amidst the soft retail conditions.

“For the moment, we do not have any plans to close down any of our operations including Quill City. We believe in the importance of growing our brand irrespective of the uncertain economic situation as we are committed in offering continuous customer experience,” said the firm.

At present, it is renovating and upgrading its existing stores and malls. It has also opened new malls, with the latest being Bandar Dato’ Onn in Johor Bahru. Overall, the company runs three MaxValu supermarkets, 27 malls and 34 outlets across Malaysia.

In addition, the operator of department stores and supermarkets pointed out that its financial performance remains positive.

For 1H 2017, revenue increased by 1.4 percent year-on-year from RM2.05 billion to RM2.08 billion, while earnings rose marginally from RM47.78 million to RM47.96 million.

Talks of the supermarket’s closure emerged as the mall owner Quill Retail Malls Sdn Bhd suffered higher losses of RM35.25 million for the whole of 2016 compared to RM32.41 million in the prior year.

According to a property expert who wanted to remain anonymous, Quill City Mall attracts a smaller crowd compared to other shopping centres due to its bad location.

“It is not just affecting AEON, but also other tenants. It’s not so much on location, but inaccessibility. It’s not easy to access because it is at the ‘wrong’ side of Jalan Sultan Ismail,” he explained.

Quill City Mall opened in October 2014, with a net leasable area of 800,000 sq ft.

Aside from anchor tenant AEON, its other major occupants include GSC cinemas and H&M. In total, 180 businesses operate in the premises, revealed its website.

 

Image sourced from Asia Web Direct.

 

This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email editorialteam@propertyguru.com.my

 

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Shaiful Safar
Real Estate Negotiator
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True Vest Property Consultants Sdn. Bhd.
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