PETALING JAYA, Jan 2 — Parkson Holdings Bhd’s termination of its tenancy in Maju Junction Mall here has become another black mark for the country’s consumer retail sector.
According to a report by The Star, the firm confirmed on Facebook that it was closing its store in the mall along Jalan Tuanku Abdul Rahman.
“Parkson Maju Junction Shopping Mall is moving out today. Thank you for your unconditional support throughout the years and we hope that you continue to shop with us at any of our other Parkson stores,” it said in a Jan 12 post.
The firm still has around 50 outlets across the nation.
However, a property consultant suggested that the exit was likely an indication of the mall’s underperformance rather than the larger retail sector.
Citing the performance of the neighbouring Sogo mall, he said it was the country’s most successful with an annual sales turnover of over RM800 million.
“Most retailers there do very well, with some having their best performing outlet in Sogo.
“Rents can exceed RM25 per sq ft in Sogo and along Jalan Tuanku Abdul Rahman, it is also above RM15 per sq ft,” he said.
