SINGAPORE - 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 sell most of the retail space at its 11-storey Capital City Mall in Tampoi...
SINGAPORE - 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.” Capital City Mall was completed in April 2018 and opened in October that year. However, the mall had been shut since February 2020 after Capital World ran into financial difficulties and had to seek court protection from creditors while restructuring its debts.
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