In a bid to boost its market share in Malaysia, Japanese retailer Aeon will spend RM350 million (US$109 million) opening two new shopping centres and renovating existing properties this year.

Having entered Malaysia in 1984, Aeon now has 19 shopping centres and 24 stores throughout Malaysia.

This year, the Japanese retailer aims to take a bigger pie of Malaysia’s retail market by tapping opportunities in the northern region and on the west coast.

“Officially the retail market is valued at about RM80 billion and we have captured about RM3 billion of the market. The market is big enough for everyone, and this is where competition will benefit consumers,” Aeon Malaysia chairman Datuk Abdullah Mohd Yusof said.

“We are in the phase of acceleration in our expansion plans. We will be opening our 25th store in Ipoh by the end of this month and another one in the northern region by the end of the year,” said MD Nur Qamarina Chew.

Apart from new store openings, Aeon will also renovate its existing stores, including updating Jusco signage to the new corporate identity. 

GB