Berjaya Times Square| Metrojaya Closing Down Sale
Metrojaya at Berjaya Times Square Sale will close its doors at the end of operating hours on Sunday(8th November 2009) and move out by month-end.
The store was one of the Major Tenant replacing the space vacated by Debenhams. It was officially opened on November 21 2006.
Head over to Metrojaya, Berjaya Times Square Sale from 6th to 8th November 2009 if you are Free!
Last 3 days! Further Reductions!
Everything Must Go!
*** Only applicable at Metrojaya, Berjaya Times Square.
Metrojaya Closing Outlet in Berjaya Times Square
Department store Metrojaya Bhd will close its outlet in Berjaya Times Square next week, three years after moving in as an anchor tenant.
Metrojaya, which occupies 114,000 sq ft of space at the Kuala Lumpur mall, will close its doors at the end of operating hours on Sunday and move out by month-end.
It will be the second time a retailer is leaving Berjaya Times Square. The UK’s leading multi-category retailer, Debenhams, exited the mall and the country in August 2006.
Metrojaya chairman Datuk Ahmad Khairummuzammil told Business Times that its exit was part of a rationalisation exercise.
"This is purely a business decision. We feel we can do better if we focus on our other existing stores," Ahmad said, adding that it was leaving at the end of its three-year tenancy agreement.
While the outlet is profitable, Metrojaya feels that it will be better to focus on its 138,000 sq ft store in Bukit Bintang Plaza, located a stone’s throw away. It plans to spend RM9 million to renovate this outlet.
Metrojaya will hold a sale from now until the closing of the store.
The store opened officially on November 21 2006, taking over the space vacated by Debenhams.
Berjaya Group’s BTS Department Store Sdn Bhd had the franchise for Debenhams, but the deal was mutually terminated after three years when the business proved to be not viable.
Metrojaya, a RM400 million company, operates five other department stores apart from the one in Bukit Bintang Plaza as well as four MJ Fashion Concept Stores.
It also operates speciality store Living Quarters, Somerset Bay, East India Company and Reject Shop.
The management of Berjaya Times Square did not return calls from Business Times.
However, a quick check with the mall’s leasing department revealed that it had not yet secured a new tenant for the space.
from:btimes.com.my/Current_News/BTIMES/articles/MJBXSQ/Article/index_html
I don’t think Berjaya Times Square is a good place for retail outlets. Not many people go there. And each time I go there, I can feel the coldness and emptiness of the place.
hi foongpc,
You should go there during weekend & not heading to Ground floor.
The action is on 3rd Floor and above.
Why?
You may go there and update here 😀
Retailers, producers see strong Q1 growth, cautious on Q2
GEORGE TOWN: Consumer product retailers and manufacturers in the country are expecting a strong first quarter but are, however, cautious about the second quarter.
Pensonic Holdings Bhd managing director Dixon Chew told StarBiz that the group’s domestic sales grew about 5% in the second half of 2009 versus a year earlier.
“Sales of consumer electrical and electronics products did well during the festive holidays because of the year-end bonuses. Consumers were more willing to spend due to their perception of an improving economic environment,” he said.
Pensonic’s domestic sales division was expected to perform better in the first quarter of 2010 compared with the year-ago period, he said.
However, due to the prevailing uncertainties in the global economy, the company was cautious on the second quarter, he said.
“In the US, unemployment still stands at double digit, which means the consumption power is still weak, and our manufacturing sector will be affected eventually,” Chew said. “We are cautious about undertaking expansion plans in the second half.”
On the implementation of the Asean Free Trade Area (Afta) Plus China on Jan 1, Chew said the group could now increase imports of China-made finished and semi-finished raw materials without duties for the group to do manufacturing and assembly work in Penang.
Ban Hin Bee Sdn Bhd general manager Wilson Yeoh said the company had been enjoying double-digit growth for the past two months.
“Manufacturers of our brand-name products all over Asia did not anticipate such high volume of orders during the Christmas, New Year and Chinese New Year holidays.
“The manufacturers in the Asia-Pacific were cautious when they forecast the demand for consumer household items in Malaysia for the last quarter of 2009 and the first quarter of 2010, as they were sceptical about domestic spending power.
“For the first quarter, we expect strong growth over the previous year’s corresponding quarter.
“The second quarter is expected to be slower than the first, and we anticipate sales to pick up again in the third quarter,” he said.
Ban Hin Bee is setting up two more outlets in the northern region in the second half of 2010. The leading retailer in the north has nine outlets in the country – eight in Penang and one in Kuala Lumpur.
Penang-based Star Electronics Sales & Services expects about 10% growth in sales year-on-year in the first quarter of 2010, while viewing the second quarter with caution.
“For the last two consecutive quarters of 2009, our sales had been growing at about 10% per quarter, compared with the respective quarters of 2008,” said managing director Joseph Hon. “However, there is little visibility for the second quarter.”
“We do have plans to establish seven more outlets in the Klang Valley and Selangor, as part of our strategy to tap the market in the central region.
“But this expansion exercise will be implemented only if the domestic economy continued to remain stable,” he said.
The company currently has 18 outlets in Penang and Kedah.
Meanwhile, Courts country director Chris Yong told StarBiz that the company was planning store expansion at eight locations nationwide this year after it increased its market share of consumer and digital electronics by about 8% in 2009, even as the market shrunk by 4%, due to the weak consumer sentiment during the recession.
“We have also identified 10 stores for major refurbishment, while three other stores are being planned for relocation,” he said.
Yong said that based on Courts steady market share, the company was optimistic retail consumer confidence would continue to recover.
Meanwhile, OCBC Bank (Malaysia) Bhd retail commercial banking head Wong Chee Seng said that compared with the sluggish January 2009, loan applications were higher last month.
“As the economic strength gathers momentum, we foresee greater demand for loans in the first quarter of this year.
“Aligned to the gradual improvement in domestic demand, we are also seeing improvements in loan drawdowns, by as much as 50% due to higher approval volume and larger deal sizes,” he said.
fr:biz.thestar.com.my/news/story.asp?file=/2010/2/17/business/5655496&sec=business