4TH IKEA STORE OPENS
Batu Kawan outlet part of Swedish giant’s RM650m investment in Malaysia
IKEA Batu Kawan, the fourth store by the Swedish furniture maker in Malaysia after IKEA Damansara, IKEA Cheras and IKEA Tebrau, officially welcomed customers yesterday.
To date, there are more than 400 IKEA stores in 50 countries.
Finance Minister Lim Guan Eng said the store was the result of the Swedish giant’s RM650 million investment in the country.
“The investment highlights the level of confidence a renowned global company has in Malaysia. This will contribute positively to the regional economy,” he said at the store’s grand opening, here, yesterday.
Also present were Chief Minister Chow Kon Yeow, Swedish Ambassador to Malaysia Dag Juhlin-Dannfelt, IKEA Southeast Asia managing director Christian Roejkjaer and IKEA Batu Kawan store manager Pathmalingam Arumugam.
Lim said the development was an example of the 4P partnership of “public, private, people and professionals”.
“It is my hope that this success in Batu Kawan can be replicated elsewhere in the country so that we can raise the quality and the quantum of economic growth enjoyed by all Malaysians.
“I am happy to learn that this IKEA store has been built with sustainability in mind, which proves that sustainability can contribute positively to making a profitable business decision.
“With nearly a million households within an hour’s drive from the store, IKEA Batu Kawan will open up a new avenue for private consumption and, more importantly, create more than 300 jobs, especially in retailing and logistics, for Penangites as well as Kedahans,” he added.
Meanwhile, Lim said Malaysia’s economy would remain strong this year, with the gross domestic product expected to expand 4.9 per cent, driven by a healthy projected private consumption growth of 6.8 per cent.
He added that the robust consumer spending would offer IKEA and the overall retailing industry good business growth prospects in the near future.
“The growth of the business segment is also a recognition of the international business community’s confidence in the country’s growth potential.”
Chow said with IKEA and the thriving industrial sector stamping their marks in Batu Kawan, it would in time become a burgeoning metropolis offering a wealth of opportunities for residents, businesses and travellers.
“I am certain that together with other catalyst projects in Batu Kawan, IKEA will provide a great boost to Penang’s economy. IKEA is like a magnet to Batu Kawan.”