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13 June 2014

BR1M HAS HELPED LOCAL RETAIL BUSINESSES: MYDIN

 

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Mydin Mohamed Holdings Bhd managing director Datuk Ameer Ali Mydin (left) says the government's move has reduced concerns over the decline in retail sales, especially in the supermarket business segment. (NSTP Pic by Amirudin Sahib)

 

KUALA LUMPUR: Mydin Mohamed Holdings Bhd (Mydin), a leading local hypermarket operator, believes the government's 1Malaysia People's Aid (BR1M) initiative has helped the retail businesses in the country. Its managing director Datuk Ameer Ali Mydin said the government's move has reduced concerns over the decline in retail sales, especially in the supermarket business segment. He said BR1M has provided the needs of lower and middle income groups. "Retail sales will definitely show an increase the next day after people receive the BR1M grant today and as the people's spending flows, it would be a good thing for the retail business. "In fact, we are also hoping that by 2018, the retail sector could grow by two to three per cent driven by the expectation of the 14th General Election next year as compared to a five per cent decline this year," he said at the launch of takaful iMeriah here yesterday. The ceremony witnessed Mydin's collaboration with AmMetLife Takaful Bhd (AmMetLife Takaful) to launch a takaful protection plan specifically for Mydin's Cardmembers nationwide. The launch was officiated by Ameer Ali representing Mydin, while AmMetLife Takaful by its chief executive officer Noor Azam Mohd Yusof. AmBank Group Corporate Corporate and Marketing Head Syed Anuar Syed Ali and Mydin Executive Director, Datuk Murad Ali Mydin was present as well. Ameer Ali said the Meriah Mydin cardholder had to spend at least RM600 at selected Mydin supermarket within a month and will receive the following month's insurance cover. The takaful protection is provided free by Mydin while customers will not be charged for the coverage. "The iMeriah cover period is for one month and will be renewed whenever the minimum monthly spend criteria of RM600 is met by Mydin cardmember. "In the event of death of a protected Meriah cardmember, the nominee will be allowed to spend RM300 per month at Mydin for daily necessities for 12 months," he said.

 

Source :  New Straits Times