Mydin Mohamed Holdings Bhd has strengthened its foothold on Penang with the opening of a hypermarket in Bukit Jambul.
Managing Director Datuk Ameer Ali Mydin said the company’s fifth hypermarket involved an investment of RM22 million and it was its first hypermarket on Penang.
Mydin was confident of recording a monthly turnover of RM10 million based on the potentially high purchasing power on Penang due to its high population and Bulit Jambul being a popular spot he told reporters after opening the hypermarket on Friday.
“The hypermarket’s total space is 150,000 square feet and we also offer retail space for lease besides giving opportunities for small and mediul-scale entrepreneurs to do business within the hypermarket” he said.
He also said that the opening offered 500 local jobs as well as working together with the Federal Agriculture Marketing Authority in providing retail space for SME’s under the agency’s patronage.
Mydin has 68 emporiums nationwide.
Whilst on the hypermarket front it is our understanding that a new Tesco’s store will be opening this year in the Eastern and Oriental development alongside Straits Quay, most likely in the third quarter.