Japanese retailer Aeon is making further investment in Malaysia with another RM350 million (US$116 million) to spend in a new mall and refurbishments of existing stores.

The retailer will invest RM240 million in a new shopping mall in Kulai Jaya which is slated to open in December.

The remaining RM130 million will be spent in refurbishing its existing stores.

“Every year we will embark on a strategic renovation of our retail and shopping malls to stay relevant with out tenant mix and customers’ expectation. It is a continuous strategic refurbishment conducted every year,” said MD Nur Qamarina Chew Abdullah.

With the country’s gross domestic growth expected at five to six per cent this year, Aeon is confident of its outlook for the year.

Aeon, with 22 shopping malls and 30 stores in Malaysia, saw a 36 per cent profit increase in the first quarter.