Mydin sets aside RM208m for four new outlets

Mydin Mohamed Holdings Bhd, the operator of Mydin hypermarket, has set aside some RM208 million to open four new outlets in the country this year.
Source: New Straits Times - 27 April 2011

 

Mydin Mohamed Holdings bhd Managing Director Datuk Ameer Ali Says the outlet in Ipoh will be its biggest hypermarket

Ipoh: Mydin Mohamed Holdings Bhd, the operator of Mydin hypermarket, has set aside some RM208 million to open four new outlets in the country this year.

Managing director Datuk Ameer Ali Mydin said two of the outlets will be opened here and one each in Seremban and Johor Baharu.The one in Seremban will be located at Terminal 2 Era Baru complex, while the other in Nusajaya, Johor Baru, is due for opening by end of July.

“We are actually renting the existing buildings in these two locations. Thus, our investment will be much lower at RM10 million and RM8 million, respectively,” he told reporters on the sidelines of Minggu Saham Amanah Malaysia (MSAM) early this week.Mydin currently has 80 hypermarkets nationwide. Ameer Ali said the proposed outlet in Ipoh, which will be built in Meru Raya, will be Mydin’s first in the city and its biggest hypermarket.

“Costing RM140 million, our outlet in Meru Raya will be our biggest hypermarket, with a total built – up area of 700,000 sq ft. Work on the project has started and we expect construction to be completed by the end of year,” he said.

He added that the Meru Raya outlets will help provide some 600 jobs to the locals. Besides providing jobs, Ameer Ali said the outlet in Meru Raya provides business opportunities, especially to small – and medium – sized enterprises (SMEs).

He said as at March 31 this year, Mydin had bought goods worth RM 110 million from SMEs. Ameer Ali said the company had obtained approval from the authorities last week to open another hypermarket in Ipoh, which will be located at Manjoi. The outlet is expected to cost some RM 50 million. Mydin has also identified 26 new locations throughout the country for its hypermarkets.