Local retailer Mustafa’s, which operates Mustafa Centre in Syed Alwi Road, will open its first department store in Malaysia in a shopping mall in Johor Bahru, mall owner Capital World announced on Friday. Singapore-listed Capital World said in a bourse filing that it will...
Local retailer Mustafa’s, which operates Mustafa Centre in Syed Alwi Road, will open its first department store in Malaysia in a shopping mall in Johor Bahru, mall owner Capital World announced on Friday.
Mustafa’s managing director Mustaq Ahmad said: “Having established ourselves in Singapore as a mega one-stop retail store for everything from fast-moving consumer goods to fashion, cosmetics and electronics, we believe the time is ripe for us to get into Malaysia.” The sale to Mustafa’s comes after Capital World in April 2022 restructured about RM187 million of debt.
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