Mydin expects to hit RM3.8b sales in 2017

Mydin expects to hit RM3.8b sales in 2017

Managing Director Ameer Ali says plans are afoot to open Mydin hypermarkets in City Samariang, City One and Vista Tunku in Kuching, Pulau Sebang on the Malacca side of Tampin, and Taman Batin in Kedah.

mydin

SEREMBAN:
Mydin Mohamed Holdings Bhd (Mydin) is confident of achieving its sales target of RM3.8 billion for the financial year (FY) ending March 31, 2017, supported by the opening of seven hypermarkets nationwide.

Managing Director Ameer Ali Mydin said the company recorded sales of RM3.5 billion in the financial year ended March 31, 2016, up from RM3.2 billion in the same period in 2015.

“The sales volume at existing outlets cannot expand further under the current economic situation due to the depreciation of our currency.

“We import many items and it has nothing to do with the Goods and Services Tax,” he told the media after opening a Mydin hypermarket in Senawang near here today.

Ameer Ali said plans were afoot to open Mydin hypermarkets in City Samariang, City One and Vista Tunku in Kuching; Pulau Sebang on the Malacca side of Tampin, and Taman Batin in Kedah.

Besides the launch of a hypermarket in Senawang, Mydin had opened another in Bukit Mertajam, Penang.

“The best opportunity is to open new hypermarkets during an economic downturn,” he said.

Mydin so far has 320 outlets made up of mini markets, supermarkets and hypermarkets nationwide.

-BERNAMA

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