recent exits of Bulgogi Brothers, Tim Ho Wan and Tous Les Jours
rental ground floor RM10,000 to RM20,000 depending on size and location.Suburban malls 20- 25% less for the same.
many retail centres, malls within Greater KL struggling
suburban areas daily footfall down 25% especially on weekends.Household consumption not recovered to prior (GST)
Premier malls still doing wellSuria KLCC, Pavilion, and Mid Valley performing well
My comments : Premier malls doing well because these are mostly patronised by higher income people (who are mostly non Melayus). Lets thank Allah that some people in the country can still do an honest day’s work and earn good incomes.
Imagine if those people also have problems – then Mid Valley, KLCC Suria and Pavillion would also have to shut down. So let us be thankful that these few malls are still doing very well.
But other than that all the middle to lower middle market type malls are facing difficulties. Quite a few Aeons have shut down.
Outside the malls, the regular shops and small businesses are also suffering. Kedai Rakyat 1 Malaysia has shut down. Cake shops have shut down (birthday cakes are luxuries for many people).
The country is grinding down to a halt. I have been saying this since the GST was implemented in 2015. And I have been right. Kedai Rakyat 1 Malaysia has shut down. Re-read the Malay Mail story above.
Here is another prediction I want to make – if the kleptocrats win the general elections, that major petrol station operator may face problems in about two years.