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Thursday, March 4, 2010

Mydin to build its biggest hypermart in Kota Baru

MYDIN Mohamed Holdings Bhd, the operator of the locally-owned Mydin wholesale stores and hypermarkets, plans to build its biggest hypermarket in the country at the Tunjong new township in Kota Baru soon.

The RM200 million hypermarket, expected to be completed by 2012 will be built on a 7.2 hectare site about five kilometres from the town centre.

Mydin managing director Datuk Ameer Ali Mydin said the Kelantan government was in the final phase of acquiring the land for the project from its owners and the ground works were expected to start in May.

"It will be our biggest hypermarket in Malaysia to date and will have 2,000 parking bays. We have decided to build a big hypermarket in Kelantan because we have a large piece of land for the project and also because we believe there is a demand for it," he told reporters in Kota Baru on Tuesday night.
Ameer Ali was speaking after a special prayer led by Kelantan Menteri Besar Datuk Nik Aziz Nik Mat for its latest hypermarket in Kubang Kerian.

Mydin also targets to set up hypermarkets in Johor Baru, Ipoh, Kuantan and Kuala Terengganu by as early as next year, he said.

On its business, Ameer Ali said the economic recession has proven to be a blessing in disguise for the company, as revenue swelled to RM1.3 billion last year from RM1.1 billion in 2008.

"The recession has led to more consumers frequenting our outlets as we offer competitive prices for our goods," he said.

By Business Times

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