Banking on its proven management capabilities and strong branding, AEON Corporation (M) Bhd has revealed its plan to expand into Sabah and Sarawak markets.
In a report published by Maybank Investment Bank Bhd (Maybank IB), the markets in Sabah and Sarawak were not completely underserved, with the major players including Parkson Holdings Bhd (Parkson), Giant Hypermarket (Giant) and The Store Corporation Bhd (The Store).
AEON's strong branding of its Jusco outlets is expected to eventually work to its advantage in the two East Malaysian states.
"The group has not yet set any specific timeline for expansion, but market evaluation and feasibility studies have been carried out," it said.
AEON's foray into Sabah and Sarawak place it in direct competition with upcoming and current shopping centres.
"Presently there are only two big shopping malls in Kuching, namely, tHe Spring Shopping Mall (tHe Spring), which opened in January 2008, and the Boulevard Shopping Mall (Boulevard), which opened in December 2007 and is partially occupied by both Parkson and Giant," the research firm stated.
It added that four other malls were being developed in the states. CityOne Megamall, one of the four malls, is set to be the largest upon its completion.
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