Economic growth spurs consumer confidence

SHAH ALAM: The Malaysian Retailer-Chains Association (MRCA) president Datuk Nelson Kwok expects the local retail sector to see marked progress in the second half of the year. “We are expecting higher growth in the second half of the year and I hope that more initiatives would be put in place to enhance growth in the small and medium enterprise (SME) sector, as you know that the sector contributes significantly to the country’s economic performance,” he told StarBiz on the sidelines of the MRCA CEO Night event here.

Source from (The Star Online): http://www.thestar.com.my/Business/Business-News/2013/06/28/MRCA-Robust-retail-sector-in-H2-Economic-growth-spurs-consumer-confidence.aspx
Published: Jun 28, 2013



“The outlook for the retail sector remains positive on the back of robust economic growth which has raised the confidence level of the consumer to spend.

“The spin-off effect from the retail sector is huge, and other industries such as manufacturing and logistics have benefited from it,” he added.

This year marks the sixth consecutive year of the CEO Night event, organised by the MRCA to provide a platform for its members to network as well as gain insight from industry leaders based on their experience.

“This year, we have more than 900 participants, with more than 600 SMEs in attendance, to celebrate the biggest CEO night thus far,” Kwok said, citing the previous event participant at between 500 and 600.

“The growth in the number of participants shows that they are very enthusiastic about learning from the captains of industry to help their businesses move forward,” he noted.

In his presentation speech, Kwok said Malaysian businesses could further expand by looking at other countries such as Mozambique as a new market with vast opportunities.

As such, MRCA is planning a business trip to that country in August this year.

Also present was SP Setia Bhd president and chief executive officer Tan Sri Liew Kee Sin, who advised the participants to be always equipped with detailed statistics and data, as it had always been his recipe for success.

Liew said that he was happy to host the CEO Night this year, given that the Setia City Convention Centre in Shah Alam was still new.

“We are honoured to have this kind of event held here and are hoping to host it again next year,” he said.

On another note, Liew said the Setia City Mall was “doing very well”, considering that it was launched just a year ago. “Every weekend, we have more than 100,000 visitors and probably 50,000 during weekdays. Hence, the retail outlook for SP Setia is very good,” he said.