Malls facing meltdown as glut continues

http://www.themalaymailonline.com/malaysia/article/malls-facing-meltdown-as-glut-continues#6kA2JvY0BUtAkM0x.97 14th March, 2018

True occupancy rates in Klang Valley malls may be as low as 40 per cent in some areas, according to a Financial Times (FT) article cataloguing the country's continued obsession with building more shopping space despite chronic oversupply.

Discounting the five premier malls in the Greater Kuala Lumpur area — Suria KLCC, Pavilion, Mid Valley, Sunway Pyramid and 1 Utama — the FT said the retail sector was slowly edging towards a crisis exacerbated by a shift towards e-commerce.

Online retail rose by more than a fifth last year as Malaysians become more accustomed to shopping from the comfort of their homes, and the impact on physical sales has become more apparent with time.