Retail sector may grow 5-8 per cent this year


KUALA LUMPUR: The Malaysian Retailer Chains Association expects five to eight per cent growth in the retail industry this year, said vice-president Datuk Garry Chua.

“We are very optimistic with the New Key Economic Areas as announced by the government, especially for the retail industry,” he told a press conference in conjunction with the association’s 18th anniversary and Awards Banquet 2010.

“For the upcoming budget, the association has its own wish list.  The  government should come  forward  to  help small-and medium-sized enterprises  to  tide  over with the economic distress,” said  secretary-general   Valerie  Choo.

On corporate tax reduction, she said there must be some reduction as it would help SMEs in terms of cashflow.

“Moreover, the government is always talking about growth. In order for the retail industry to grow, we need sufficient cashflow to open new outlets. That’s why  SMEs  are eager  over lowering the tax rate,” she said.

The anniversary and  awards  banquet will be held at Sunway Resort Hotel and Spa Ballroom in Petaling  Jaya on Oct 29. — Bernama