SNS News : Wholesale, Retail to Grow by 8% in 2007

Wholesale, retail sub-sectors to grow by 8% in 2007

THE wholesale and retail subsectors are expected to grow by about 8% next year in tandem
with the promotional efforts to be carried out during Visit Malaysia Year 2007 (VMY 2007),
said Deputy Finance Minister Datuk Dr Ng Yen Yen.

“The sectors expanded by 6.3% in the first half of this year, and with the promotions next
year, it's expected to be higher,” she told reporters after officially opening Metrojaya Bhd’s newest department store at Berjaya Times Square in Kuala Lumpur yesterday.

She said the country received US$31 billion (RM113.15 billion) from tourists in 2005, and
was poised to benefit greatly especially from Asia-Pacific visitors, during the VMY 2007.

Dr Ng added that women shoppers were expected to spend more as a study by MasterCard
International showed that by the year 2014, the purchasing power of women in the Asia-Pacific would be US$578 billion (RM2.1 trillion).

Meanwhile, Metrojaya Bhd chairman Datuk Ahmad Khairummuzammil Mohd Yusoff
said the timing was right to invest in opening more stores given the impetus to attract tourists through VMY 2007 and longer-term policies and initiatives to make Malaysia an attractive shopping destination.

The Metrojaya department store at Berjaya Times Square is the fifth in a chain of lifestyle
outlets, joining those in MidValley Megamall and Bukit Bintang Plaza in Kuala Lumpur, Plaza Pelangi in Johor Bahru and Island Plaza in Penang. — By Surin Murugiah

News Source : Sun

[tags : shoppingNsales sales bargains deals shop warehousesales warehousesale warehouse klangvalley malaysia]