KUALA LUMPUR: Retail industry player Aeon Co (M) Bhd is optimistic that its new Aeon Bukit Tinggi shopping centre, slated to commence operations in November next year, will do well despite concerns that consumers’ purchasing power is on a downtrend.

Executive director Masato Yokoyama said Aeon would sell a variety of merchandise and utilise the know-how of its parent company in Japan to ensure that the shopping centre did well here.

He was speaking at the agreement signing ceremony between Aeon and WCT Land Bhd’s wholly-owned subsidiary, Gemilang Waras Sdn Bhd, yesterday for Aeon to operate the shopping centre, which would have a gross development cost of RM320mil, within WCT Land’s township development project in Bukit Tinggi, Klang.

''We expect this new shopping centre to contribute 10% to our revenue during its first year of operations,'' Yokoyama said, adding that Aeon would invest RM50mil in the Bukit Tinggi centre.

Aeon expects its new Bukit Tinggi mall to pull in the crowds despite fears of declining consumer purchasing power.

Aeon managing director Nagahisa Oyama said the shopping centre was in a good location as Klang had a total population of more than 750,000.

''We see an opportunity here, not only to serve the population in Klang but, with its good connectivity to major highways and trunk roads, we also expect to attract customers from Banting, Kota Kemuning, Shah Alam and even Subang Jaya,'' he said.

He added that the Bukit Tinggi centre would be the largest Aeon shopping mall in the country with a gross built-up area of 2.1 million sq ft and 200 tenants.

WCT Land chairman Datuk Chua Soon Poh said the shopping centre marked the group’s diversification into property investment assets with stable recurring income, thereby enhancing the group’s profits in the long run.

''With the shopping centre in place, we will now continue with our planned strategy to further enhance the township by bringing in more complementing and mutually-benefiting developments,'' he said.

(From left): WCT Land chairman Datuk Chua Soon Poh, executive director Choe Kai Keong and chief operating officer Lai Yeng Fock at the agreement signing between Aeon and WCT Land   Source : The Star 15/06/2006