AEON Co (M) Bhd, owner of the Jusco chain of department stores and 'J One' supermarkets, said it will expand nationwide next year in an all out effort to widen its market share. The group has 15 'Jusco' and two 'J One' outlets now. We are planning to open five more outlets next year, chairman Datuk Abdullah Mohd Yusof said.

The new outlets will be at Bandar Perda in mainland Penang, Ipoh, Johor Baru, the Klang Valley and Kuantan. A third Jusco outlet for Penang is also being looked into by the company, he said.

"Malaysia's retail industry is worth RM70 billion and Jusco commands a RM2 billion market share only ... we intend to capture a bigger portion of this business," Abdullah told reporters on Saturday after Penang Chief Minister Tan Sri Dr Koh Tsu Koon officiated the opening of the RM38 million Jusco Queensbay outlet in Bayan Lepas.

Also present were Aeon Co (M) Bhd managing director Nagahisa Oyama and Consul-General of Japan in Penang Hideaki Hoshi. Covering 255,000 sq ft, Jusco's first Penang outlet boasts four levels of retail space. Apart from a supermarket, the huge outlet also carries other Jusco brands. Abdullah said how much the group would spend on its expansion will depend on what type of stores it would open.

"If we have to build the complex ourselves, definitely our investment for the new outlets would be slightly higher, that is between RM120 million to RM130 million each, while renting the outlets would be more cost-effective since the cost is only between RM30 million to RM40 million per outlet," he said.

Aeon Co (M) Bhd was incorporated in 1984 and the Jaya Jusco stores were set up in response to the Malaysian Government's invitation to Jusco Japan to help modernise the retailing industry in Malaysia.

The Aeon Group, of which Jusco Co Ltd is the core company, comprises general merchandise stores, supermarkets, discount stores, home centres, specialty and convenience stores. The group is also engaged in financial services, restaurant operations and shopping centre development in Japan and globally.

Source: btimes.com.my