Bina Puri rebuffs offers for Main Place mall

Despite its orphan status on the asset register of Malaysian energy company Bina Puri, the Main Place mall in Selangor will not be sold any time soon.

The Subang Jaya shopping centre has renowned retailers including Uniqlo, Cotton On, Brand Outlet, Starbucks, McDonald’s and Toys R Us on its tenant list, which has a heavy skew to food and beverage.

In time with an announcement of the company’s latest trading results, group executive director Matthew Tee declared the group had “no plans” to sell the shopping centre.

“Since the mall opened its door last year, we have received three [acquisition] offers, but we have rejected them all. We are still enjoying the benefit of the retail mall and [we believe] it is too early for us to sell it,” he said at a press conference.

Bina Puri Holdings Bhd expects its net profit to grow by 20 per cent in the year to December 31, 2016, driven by its construction and power business segments.

Main Place Mall is recognised in marketing in Malaysia by its distinctive cat logo and character (pictured above). Centre management explains cats have long been revered as “a mythical creature across cultures and traditions”.

“They are regarded as the guardian of the home and embody domestic goodness. Being ‘Your Neighbourhood Mall’, we want you to feel at home when you’re here and we assure that you will be well taken care of.”