One-stop garment centre
Malaysia Star, Malaysia
KUALA LUMPUR: Kenanga Wholesale City Sdn Bhd is establishing a one-stop garment wholesale centre at a development cost of RM300mil.
The 22-storey Kenanga Wholesale City to be completed in three years, was located in the heart of the established Kenanga area well known for its wholesale fashion business, said group chief executive Yee Ia Howe.
Due to the inadequate trading area, entrepreneurs were unable to expand their business and space was lacking for newcomers, he said, adding that this had stagnated growth in the area.
“The development strategy for the Kenanga Wholesale City is to further expand the garment wholesale business,†Yee said at the soft launch of the three-acre project off Jalan Kenanga.yesterday.
The proposed development with a total gross built-up area of 1.8 million sq ft and net lettable retail area of 500,000 sq ft would offer 790 new business lots, double the current number of shop lots, thus providing more business opportunities, Yee said.
“The proposed units of 300 to 600 sq ft, at current market prices of RM1,980 to RM3,300 per sq ft, will provide good capital appreciation for buyers,†he said, adding that the project was 70% sold.
Kenanga Wholesale City would also provide facilities to supporting businesses such as express mailing and logistics, ATM banking service and moneychangers.
Yee said his management would also work with the Malaysia Garments Wholesale Exports and Import Merchants Association to explore business opportunities in Indonesia, Singapore, Thailand, Taiwan and the Philippines.
“Garment wholesalers in Kenanga cater mainly to the local market. Exports make up only 30% of total trade. We hope to increase foreign trade by promoting Kenanga overseas,†he said.
Deputy Finance Minister Datuk Dr Ng Yen Yen, who graced the soft-launch earlier, expressed confidence that the one-stop centre would help boost the tourism industry.
