Sunway Malls posted double-digit sales growth on the back of festive season

(Source: supplied)

Malaysian mall owner/operator Sunway Malls has reported 19 per cent year-on-year growth for the first quarter of this year driven by strong demand for out-of-home dining during the festive season. 

Revenue in the first three months surged 12 per cent, 25 per cent and 22 per cent respectively. The group – which operates seven physical malls and one digital mall – said the growth could be seen across travel-related, entertainment, fashion, beauty, F&B and health & personal care. 

“This is achieved without the liquidity infusion from the Employees Provident Fund (EPF),” said HC Chan, CEO of Sunway Malls & Theme Parks. 

Travel related sector experienced the highest growth rate among the group’s categories, 178 per cent year on year, as international borders opened up. While the beauty and health & personal care sector surged 21 per cent, fashion was up 24 per cent compared to the same period last year. 

Demand for out-of-home dining and premium dining was up 40 per cent while casual dining grew 20 per cent. 

“In spite of the current and future headwinds, Sunway Malls continues its expansion mode with the development of more retail space,” the company said. 

The group aims to increase its number of physical shopping centres from seven to 12 by 2025. 

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