Friday, 19 December 2014

(The Star) Malaysia’s economy will stay resilient next year

KUALA LUMPUR: Malaysia’s economy will still be healthy and resilient next year even though it is facing the problem of lower crude oil prices and a weaker currency, said Deputy Finance Minister I Datuk Ahmad Maslan.

He said the country could still rely on other robust sectors such as exports and tourism.

“Furthermore, additional revenue is expected from the implementation of the goods and services tax (GST) and lower oil subsidy,” he told reporters after the launch of Malaysia Debt Ventures Bhd (MDV)’s new corporate strategy to expand its financing portfolio with a RM200mil allocation yesterday.

Also present at the event was MDV chairman Tan Sri Zarinah Anwar.

The World Bank has cut its 2015 growth forecast for Malaysia’s economy to 4.7% from an earlier estimate of 4.9% on expectations of slower export growth and investments in the oil and gas industry as well as moderate private consumption next year.

It is reported that removing fuel subsidies would unlock RM19bil annually from government expenditure based on Budget 2015’s allocation of RM21bil and after removing RM2bil for liquefied petroleum gas.

For this year, Ahmad said according to ministry experts and Bank Negara reports, the economy was still stable with anticipated growth of between 5% and 6%.

On GST, he said 224,813 firms had registered for the new tax scheme as of Dec 17, beating the year-end target of 220,000 companies.

“We expect the revenue from GST will be higher with this new development. The Government was expecting RM23bil in revenue from just 150,000 companies,” he said.Meanwhile, MDV’s new corporate strategy will see the technology financier expanding its financing portfolio to other high-growth sectors, namely, nanotechnology, advanced materials, robotics and artificial intelligence, electrical and electronics, aviation and aerospace, maintenance repair and overhaul, oil and gas, and transportation.

MDV has allocated RM200mil in financing to support these new sectors.

Zarinah highlighted that in its 12 years of operations, MDV disbursed over RM8.8bil in financing to more than 700 technology projects undertaken by small and medium enterprises (SMEs).

“We see significant opportunities for SMEs in these high-growth areas that will enable us to expand our scope of financing to facilitate the objectives of enhancing value of the various industries in these sectors and creating employment opportunities.

“MDV is pleased to be able to play a role in enabling the optimisation of opportunities offered by these various initiatives to facilitate the achievement of Malaysia’s vision of climbing up the value chain to increase the country’s global competitiveness and to become a high-income, developed nation.

“We hope MDV’s role in this regard will contribute towards laying the foundation for the development of robust high-growth sectors that will drive long-term economic growth,” she said.

In conjunction with the launch of the new corporate strategy, MDV entered into a collaboration agreement with Unit Peraju Agenda Bumiputra for new entrepreneurs start up scheme or superb programme with the Malaysian Global Innovation and Creativity Centre for the Cerebro project.

(NST) ‘No material impact on REITs from GST’

AXIS REIT Managers Bhd (ARMB) says its study has shown that the six per cent Goods and Services Tax (GST) will not have any material impact on Malaysian real estate investment trusts (REITs).

“I have always maintained that Malaysian REITs have performed well in the past and will continue to do so moving forward. Most REITs have their income in ringgit and are not subject to the volatility of the currency at the moment.

“The study we did indicated that Malaysian REITs will not be materially affected by GST. In some cases, it could be positive as they can now claim input taxes. I believe that as the property market softens, more deals could be on the table and this mean there may be more acquisitions next year,” said ARMB chief executive officer and executive director Datuk Stewart LaBrooy.

ARMB, the manager of Axis Real Estate Investment Trust (Axis-REIT), will see its assets under management grow to RM2 billion following its proposed acquisition of an industrial facility in Southern Industrial and Logistics Clusters in Johor for RM153.5 million.

LaBrooy said the high-yielding asset would provide Axis-REIT with a stable income stream and contribute positively to its earnings.

On whether real estate is becoming too expensive, LaBrooy said prices had topped out and with the spectre of rising interest rates looming, the yields would rise, too.

“We are now seeing some attractive deals coming to the market again,” he told Property Times.

Meanwhile, LaBrooy believed that asset enhancement was an important part of managing a successful REIT, be it in good or difficult times, as it would help to improve its capital value.

“Some examples are the Sunway Putra Mall (formally Legend Mall), which is undergoing a major refurbishment and repositioning, as well as Capitamalls Malaysia Trust’s East Coast Mall and Sungei Wang shopping centre, and Axis-REIT’s Axis Business Campus,” he said.

(NST) Making the REIT investments

STRONG UPSIDE: Those with quality commercial, industrial and healthcare assets to do well

KUALA LUMPUR: It will not be all doom and gloom for Malaysian real estate investment trusts (REITs) next year, with potential upside from the injection of new assets and extensive refurbishment of existing portfolio assets in the past 12 months.

There are currently 16 REITs listed on Bursa Malaysia and the largest player is KLCC Stapled Group, which has property assets in excess of RM12 billion.

MIDF Research head Zulkifli Hamzah expected select REIT players to continue to do well, particularly those with quality properties in the commercial, industrial and healthcare space.

He is recommending REITs with strong assets, such as Sunway REIT, Al-Aqar Healthcare REIT, IGB REIT, KLCC Property Stapled REIT and Pavilion REIT.

Quill Capita REIT can also be considered as it has opened the Kampung Baru mall, which will contribute 100 per cent to its earnings next year.

Zulkifli said judging from the condition of the property market, there could be some easing in prices, given the softer market condition.

“Hence, we do not expect the REIT players to rush into buying as they would rather keep a wait-and-see stance. The gestation period for new acquisitions could be lengthy due to the purchasing process, further enhancement that might be needed, as well as ensuring the right tenant mix,” he said.

Zulkifli said depending on the capital requirement and the location of each REIT players’ existing assets, taking the enhancement route going forward might be less capital-intensive and have faster turnaround time.

On the other hand, RHB Research Institute Sdn Bhd expects Quill Capita Trust and Axis REIT to wrap up their respective asset acquisitions towards the end of this year or early next year.

It also expects Sunway REIT, CapitaMalls Malaysia Trust and Hektar REIT to start reaping the fruits of their labour as the extensive refurbishments of their malls are due to be completed by the end of next year.

On future acquisitions, RHB Research said it might be more challenging after the implementation of the six per cent Goods and Services Tax on April 1 next year.

It expected all purchases of commercial assets to be subject to the six per cent GST and, hence, could potentially cause the assets’ yields to become less attractive.

However, it expects no significant changes on the sector’s organic growth.

“We believe even if the electricity tariff were to increase again during the next review in mid-2015, the impact will be largely manageable as some REITs, such as Pavilion REIT and KLCC Stapled Group, have started raising their service charges and, hence, cushioning the impact of higher tariffs.

“At the same time, we also think that the GST is unlikely to dampen the REITs’ organic growth,” RHB Research said in its Malaysia Strategy 2015 report released this week.

It opined that retail REITs would outperform its peers, given their relatively stable average annual rental rate growth of five to seven per cent, compared with the two to three per cent growth in the industrial segment and flattish annual growth for the office segment.

Meanwhile, RHB Research thinks REITs could take a breather next year as the risk of further hike in the Overnight Policy Rate (OPR) has been reduced following the fall of crude palm oil and crude oil prices.

“As the decline in commodity prices is expected to adversely affect the economic outlook, the focus has, therefore, been switched to stimulating growth rather than containing inflation. As a result, we believe the OPR will likely remain stable next year. This should be favourable to the REITs, given the steady yield spread and also stable interest cost on borrowings,” it said.

Meanwhile, Sunway REIT Management Sdn Bhd chief executive officer Datuk Jeffrey Ng Tiong Lip said it was a challenge for REIT players to acquire yield-accretive assets.

He said there were good assets in the market but the owners were selling at an expensive price, making the yields unattractive

“We will continue to look for assets, but more importantly, making acquisition in the current market condition is not easy as people want to sell them at a very high price. This means the yields would be lower. For REIT like us, we can’t acquire properties with low yields as it will be dividend per unit dilutive,” Ng told Property Times.

Sunway REIT Management is the manager for Sunway Real Estate Investment Trust (Sunway REIT), which has 12 assets in its portfolio.

Sunway REIT’s market capitalisation is RM4.4 billion as at December 5 and its total portfolio assets are valued at RM5.56 billion as at September 30.

Sunway REIT Management is buying Sunway Hotel Georgetown in Penang and Wisma Sunway in Shah Alam for RM134 million from its parent, Sunway Bhd, to provide stable cash distributions to unitholders.

These assets will be injected into Sunway REIT and raise its value to almost RM5.7 billion when both acquisitions are completed over the next 18 months.

Its last asset acquisition was in 2012 when it bought Putra Place in Kuala Lumpur.

The four-star hotel in Penang, which has a gross floor area of 192,383 sq ft, completed its refurbishment exercise in April last year and is said to have a market value of RM74 million as at July this year.

The hotel will be leased back to the vendor, Sunway Biz Hotel Sdn Bhd, for a 10-year term with the option to renew for another 10 years.

Wisma Sunway, a newly refurbished office building, is located within a captive office market in Shah Alam and more than 90 per cent of its tenants are government agencies.

The acquisition of the hotel and Wisma Sunway will be funded through Sunway REIT Management’s existing debt facility, which will increase its gearing ratio from 32 per cent as at September 30 to 33.5 per cent.

On the outlook for next year, Ng said the performance for Malaysian REITs in general was expected to be flattish.

“There is no question that the market is looking quite volatile. We are now seeing fluctuations of the ringgit and that may have an impact on interest rates. There is also government subsidy rationalisation. The Goods and Services Tax (GST) is coming up, too. There are also a lot of external factors we are going to face next year. All these will definitely affect consumer sentiments or business confidence. So it is definitely going to be a very volatile year.”

He also said the market for commercial assets such as retail malls, offices and hotels was in a soft competitive situation by virtue of the number of new properties of the various asset classes that are coming into the market.

“There are more hotels, malls and offices... it is very apparent that the supply is there and, therefore, the situation will continue to be very competitive,” Ng said.

Sunway REIT was listed on the Main Market of Bursa Malaysia on July 8 2010 and, with a RM5.7 billion portfolio, is the country’s second-largest REIT in terms of assets size as at December 5, behind KLCC Stapled Group.

(NST) Texchem: GST to benefit restaurant business

KUALA LUMPUR: Texchem Resources Bhd says the implementation of the Goods and Services Tax (GST) next year will benefit its restaurant business as it can claim input tax from the Customs Department.

“Currently, we collect a six per cent sales tax for the government. After April 2015, we will continue to collect the six per cent for the government but this time, we can claim input tax credit.

“This will go straight to our bottom line. Since we have an extensive chain of food and beverage outlets, the amount of input tax claims will be substantial,” said its executive chairman Tan Sri Fumihiko Konishi.

The six per cent GST that will be charged from April 1 is termed as “output tax” while the ingredients purchased and overheads incurred by a restaurant owner is known as “input tax”.

Next year, Texchem expects its restaurant division to achieve RM300 million in sales as it adds Yoshinoya Beef Bowl, Doutor Coffee and Hanamaru Udon to its stable.

Meanwhile, Konishi said the sale of a 28 per cent stake in Sushi King to Asia Yoshinoya International Sdn Bhd for RM102.2 million would pave the way for Texchem to bring in new brands to Malaysia.

“Yoshinoya operates more than 1,800 restaurants in Japan. With this deal, we can leverage on each other’s expertise to expand,” he said, after opening the Tim Ho Wan outlet, here, yesterday.

Texchem has teamed up with Singapore-based Tim Ho Wan Dim Sum Pte Ltd to form a 51:49 partnership in Dim Sum Delight Sdn Bhd, which operates Tim Ho Wan, a popular dim sum outlet.

Konishi said the joint venture has set aside RM15 million to open to 10 outlets in Malaysia over the next three years.

Thursday, 18 December 2014

(NST) 74pc of abandoned housing projects revived: Najib

SEPANG: The revival of over 74 per cent of abandoned housing projects nationwide was made possible with the government's intervention, Prime Minister Datuk Seri Najib Razak said today.

The prime minister said the initiatives by the government allowed some 159 housing developments to be revived and another 10.7 percent of all abandoned projects were in the building phases.

The remaining housing projects deserted by private companies, he said, were all in the proposal stages of being re-developed.

Najib added this would not have been realised without the good management of government-linked companies (GLCs) such as the Malaysian Building Society Berhad (MBSB) which had funded such projects.

Najib said this during his speech at a mock-key handover ceremony to mark the successful rehabilitation of a housing project in Bandar Salak Perdana, near Bandar Baru Salak Tinggi this evening.

“To deliver something out of the ordinary, an institution needed to be well-managed to become profitable,

“MBSB has successfully done so to allow the funds it made to be used for this project,”

Najib said commercial banks would not fund such projects because the interest rates on offer were below the normal commercial rates.

However, he said MBSB had allocated some RM215 million to recover the abandoned project under the government's instruction.

At the ceremony, some 713 home buyers received their keys after waiting over 12 years after the project was abandoned.

(The Star) World Bank cuts 2015 Malaysia GDP forecast

PUTRAJAYA: The World Bank has cut its 2015 growth forecast for Malaysia’s economy to 4.7% from an earlier estimate of 4.9% on expectations of slower export growth and investments in the oil and gas industry as well as moderate private consumption next year.

The intergovernmental financial organisation, however, has maintained its expectations of a 5.7% gross domestic product (GDP) growth for Malaysia for 2014.

“It is still a robust and strong growth for an advanced middle-income economy,” Ulrich Zachau, World Bank’s country director for South-East Asia, said of the revised 2015 GDP growth estimate for Malaysia.

“It compares well with other countries in the region, and we are positive about the outlook for Malaysia as good policies are in place to support the country’s economic stability and growth,” Zachau told StarBiz before launching World Bank’s latest edition of Malaysia Economic Monitor entitled Towards a Middle-Class Society in Putrajaya yesterday.

According to the World Bank, Malaysia’s export growth would likely slow to 4.1% next year, from the estimated 5.4% this year. Investment in oil and gas was also expected to slow in 2015 amid declining global oil prices, while private consumption in Malaysia was expected to moderate as consumers adjust to higher prices when the goods and services tax kicks in in April and credit moderates further.

“As a result of these factors and the high base in 2014, the forecast for GDP growth in 2015 has been revised to 4.7%,” World Bank said in its report.

Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar, however, said World Bank’s 2015 GDP growth target for Malaysia was simply “too conservative”.

“We will still stick to our GDP growth target of 5% to 6% for 2015,” Wahid said in his official address in conjunction with the launch of the World Bank report.

Wahid noted that given the uncertainties surrounding the global economy, Malaysia’s GDP next year might come in at the lower end of the official target range.

According to Zachau, the critical risk for Malaysia right now is on the external side.

“Overall, the world economic outlook is not greatly positive,” he said.

“At present, the single most important challenge for Malaysia is managing the downside risk arising from declining global crude oil prices,” Zachau pointed out.

While the World Bank acknowledged that lower commodity prices would put pressure on Malaysia’s fiscal and current accounts, the bank at the moment still believed that Malaysia would be on track to cut its 2015 fiscal deficit to 3% of GDP as targeted and that the country’s current account would remain in a surplus position, albeit at a lower level than in 2014.

The World Bank had projected Malaysia’s current account surplus to GDP ratio would narrow to 3.1% in 2015 from 4.2% this year.

“Low oil prices have helped Malaysia in the short term, as savings from the elimination of fuel subsidies would likely outweigh the potential medium-term decline in revenue from oil,” Zachau said.

“However, if oil prices were to fall further and stay low longer, there would undoubtedly be negative risks to Malaysia’s current and fiscal accounts,” he noted, adding that oil prices lower than US$60 per barrel would already pose some negative effect on Malaysia.

Wahid, meanwhile, stressed that Malaysia was in a better position to weather the challenges of declining oil prices compared with other oil producing countries. He highlighted the fact that the country has a well-diversified economic base and reduced its reliance on oil revenue in recent years.

“Short-term fluctuations will not affect the medium and long-term prospects of Malaysia,” he said.

While Wahid acknowledged that the rapid decline in oil prices, slowing export growth and weakening ringgit represented “added challenges” to Malaysia’s economy, he said the Government was closely monitoring the situation to ensure that the adverse impact from those challenges was minimised.

(The Star) MRT and LRT luring inhouse buyers

PETALING JAYA: Housebuyers, especially first-timers, are increasingly looking to snap up property close to upcoming LRT and MRT stations following the recent announcement of MRT 2 and LRT 3.

Many are even willing to fork out more for houses in such locations.

Telecommunications engineer V. Sharvin, who will be getting married in May, said finding a house near an LRT or MRT station was one of their top priorities.

“I travel to work daily using the LRT from Gombak to KL Sentral so it is very important for me to find a place close enough for me to continue using public transport.

“It is convenient and I can be sure that I will get to my meetings on time and not be delayed by traffic.

“Although this means we may have to fork out more money, I think it will be worth it in the long run,” said the 26-year-old.

Marketing manager Helen Yeoh said she was looking at buying her first home in Sungai Buloh near the upcoming MRT line.

“I am willing to pay more, if it is reasonable, for a house within walking distance to the MRT station.

“I will be able to save on fuel as well as escape the daily traffic jam,” said the 31-year-old.

Malaysian Institute of Estate Agents president Siva Shanker said it was becoming the trend for buyers to ask for houses near MRT or LRT stations.

“It is not something out of the ordinary, it happens everywhere – development occurs near infrastructure.

“Now there is a lot of hype regarding the MRT, so developers are taking advantage of the situation and there is increased development near upcoming railway lines.

“But buyers must realise that unless they are buying property close to an actual LRT or MRT station, they will still have to drive to the nearest station to park,” he said yesterday.

The acceptable walking distance from a house to a station, he said, was about 500m.

According to Ho Chin Soon Research Sdn Bhd researcher Ishmael Ho, those who buy high-rise property within 500m of the upcoming MRT lines, would be able to command between 15% and 25% higher rent than in other areas.

When contacted, Real Estate Housing Developers’ Association (Rehda) vice-president Datuk Wan Hashimi Albakri said developers were also vying for land near upcoming stations, but due to steep prices, only the big players could afford this.

“Although some buyers are willing to pay the premium, it also has to be reasonably priced for it to sell.

“It has to be in the right location, at the right price and at the right time,” he said.

(The Star) Mah Sing appoints Topotels to manage its Medini hotel

PETALING JAYA: Mah Sing Group Bhd has appointed Topotels Sdn Bhd as the hotel operator to operate and manage its Meridin Hotel Suites in Medini, Johor.

The property developer said Topotels was appointed by Mah Sing’s wholly-owned subsidiary, Meridian Hospitality Sdn Bhd.

“Meridin Hotel Suites comprises two 27-storey blocks with studios, one- and two-bedroom suites in Phase 2 of Meridin @ Medini,” it said in a statement yesterday.

It said Meridin @ Medini would be an integrated complex of hotel, condotel and residences located in the new urban township of Medini Iskandar, Johor within walking distance to Lego Land theme park.”

Mah Sing added that the purpose-built development was located on 8.19 acres fronting Pesisiran Pantai JB-Nusajaya, the protocol road leading to Johor Baru’s new administrative centre of Kota Iskandar.

“Topotels is optimistic that the hotel will be one of the main options of accommodation for both business and leisure travellers from the country as well as abroad,” said Topotels Malaysia operations director Brian Dorairajah in the same statement.

He said the hotel, which would be fully operational by 2017, would have about 600 rooms.

Topotels has a stable of reputable hotels under its management including Ramada Encore in Seminyak, Bali, The Straits Hotel & Suites in Malacca, Vio Hotel in Bandung and Axana Hotel in Padang, among others.

“Meridin @ Medini is poised to benefit from its location just right next door to Legoland Malaysia which has attracted more than one million visitors since its opening,” said Mah Sing group managing director Tan Sri Leong Hoy Kum.

“The project has done very well and we are optimistic of very good response to Meridin Suites as well,” he said.

Wednesday, 17 December 2014

(The Star) Boon for bus commuters

Rapid Penang’s RM2.6mil second bus terminal, located beside the present terminal in Weld Quay, will start operating today.

Terminal B, which is on a 32.52sq m (350sq ft) plot which was formerly used as a car park, will benefit more than 20,000 commuters.

It has five designated lanes and can accommodate up to 12 buses at any one time.

Rapid Penang chief operating officer Mej (Rtd) Mohd Shukri Abdul Rahman said the terminal boasts of a customer information kiosk, operations and regulator kiosk and a a Web-based Estimated Time of Arrival system for commuters to plan their journey.

A dedicated ramp for disabled, elderly and pregnant passengers will also be provided.

Mohd Shukri said the routes that the buses from the new terminal would ply were routes 101 (Tanjung Bungah), 10 (Botanical Gardens), 11 (Batu Lanchang), 12 (Bandar Sri Pinang) and central area traffic (CAT) .

“CAT buses which never used to have a proper terminal before and which used to stop by the road can now go to Terminal B as well,” he said in his speech at the opening of the terminal in Weld Quay yesterday.

Mohd Shukri also said that construction work started in June last year and was completed this August.

He added that the terminal was built to meet the increasing number of commuters.

Chief Minister Lim Guan Eng, who opened the terminal saiddedicated lanes on the road for buses would be provided if Rapid Penang could increase the number of their buses on the road daily.

“The state will provide dedicated bus lanes if Rapid Penang can run 800 buses on the roads daily,” he said.

Lim added that this was in line with the state’s aim to improve public transportation and traffic flow in the state.

(The Star) Main Place: A shopping haven at USJ 21

Main Place Mall, Subang Jaya’s most loved neighbourhood mall, is home to over 100 unique retail offerings that cater to the lifestyle needs of today’s discerning mid-upper income families.

Offering a wide array of daily necessities, merchandise and services, exciting promotional activities, family events as well as international and local cuisine, Main Place is the perfect setting for the community to shop, meet, play and simply chill out with family and friends.

The dynamic shopping mall, splashed in a striking combination of dashing red and elegant white, is hard to miss as it is strategically located along Jalan USJ 21/10 and LDP right in the heart of Subang Jaya and accessible via Persiaran Kewajipan, LDP, NKVE and other highway networks.

With its ideal strategic location, Main Place has quickly become a preferred place for the much-needed retail therapy of its patrons within the larger Subang Jaya suburban vicinity.

Among the 130 shop lots within the four-storey mall are outlets of concept stores and specialty shops, apparel, electrical appliance, grocery, food and beverage (F&B), toys, wellness, gifts, hobbies, accessories and more. Being a neighbourhood mall, Main Place features an interesting mix of tenants to ensure that the products and services one needs are close by.

The mall is anchored by Jaya Grocer and 12 other junior anchors such as Uniqlo, Brands Outlet, Cotton On, Nichii, Original Classic, Toys “R” Us, KizSports & Gym, Lovely Lace Home, Daiso, ESH and Popular Bookstore. Other notable names include Sothys Premium Salon, A-Saloon, Dr Kong, My Puzzle House, Artisan Soap, Garage, Blok Space, Machines, Glitters, The Body Shop, Nova, Glowing Party House and Pet Lovers Centre.

The F&B outlets serving delectable cuisines have an enviable wide selection from Asian fusion to Western and even local delights, offering sweet delicacies to snacks and fast meals.

Their names are nothing short of established favourites – Absolute Thai, Black Market, BarBQ Plaza, D Empire, Pasta Zanmai, Sushi Zanmai, Komugi Café, Fish & Co, The Good Tea Company, McDonald’s, AK Noodles House, Kemaman Classic Kopitiam, Porridge Time, Starbucks, Seoul Garden Hotpot, Texas Chicken, Teochew Chendul, Kaki Lima and soon-to-open Nando’s and Tonkatsu.

Shoppers from the surrounding neighbourhoods of Subang Jaya, Putra Heights, Puchong and Shah Alam will now get to stay abreast with the latest lifestyle trends and spend quality time with their loved ones at this neighbourhood mall that offers unparalleled shopping convenience and a comfortable ambience within its retail podium.

Main Place is part of a mixed property development that combines residence, leisure, retail and fine dining to bring both shoppers and residents alike the ultimate in city suburban lifestyle.

This is the place to be in for enjoyable shopping, chilling out, dining in style and lots more.

Be ready to pamper yourself with the plethora of health and beauty services, from massage, manicure and pedicure to personal grooming.

As your neighbourhood mall, it takes your needs to heart, for example, providing the little things that matter such as imported strollers for babies and toddlers and wheelchairs for the physically challenged, nursing rooms, a surau, touch screen directory kiosks, friendly customer service and 24/7 mall security.

Main Place Mall management director Woo May Foong says every floor in this retail development has been carefully planned and designed to meet the everyday needs of its shoppers and beyond.

“That’s why every detail at Main Place has your convenience and satisfaction in mind as our aim is to earn the smiles, win over hearts and create a wonderful experience for you and your loved ones. Indeed, at Main Place, we make shopping exciting and convenient for you. It’s not just a mall, but a mall closer to you,” she says.

This Christmas season, Main Place Mall will transform into a wonderland for shoppers to indulge on a spending spree.

The “feel good” ambience is buoyed with twinkling lights and Christmas carols that get you to sing or hum along gaily.

Lined up are unrivalled attractions and activities for a truly good time of fun and frolic with the many entertaining activities or buy heartfelt gifts for loved ones with the seasonal offerings and collectibles available in this whole month of December. Do come and soak in all the splendour of a classic Christmas holiday at Main Place Mall.

Source: Star2