U.S. tech giant Apple is reportedly set to open its first Malaysia store next year, eyeing the nation’s capital Kuala Lumpur for its first store location.
According to The Edge Malaysia, the Kuala Lumpur store is reportedly set to open in the Exchange TRX, the new financial and business hub of Malaysia, located on Jalan Barat in Pudu.
Sources revealed to The Edge Malaysia that Apple representatives have already visited Malaysia to negotiate with the management of The Exchange TRX, with talks at an advanced stage. However, there remains a lot of “cajoling and convincing” required to finalise the debut Malaysia store, the sources said.
Malaysia will be Apple’s third market in Southeast Asia to operate a retail store, joining Singapore and Thailand. Apple operates three stores in Singapore — Orchard Road, Jewel Changi and Marina Bay Sands — and two in Thailand – Iconsiam and Central World.
Expected to open in 2022, The Exchange is the retail mall part of Tun Razak Exchange – which boasts 1.3 million square feet of lettable area. The Exchange TRX will house more than 400 stores including boutiques, big name stores, experiential dining, leisure and entertainment outlets. Confirmed tenants include Japanese luxury department store Seibu, Dairy Farm International, and Golden Screen Cinemas.
The Exchange TRX will also feature a 10-acre rooftop park and has direct connectivity to Sungai Buloh–Kajang and Sungai Buloh-Serdang-Putrajaya MRT lines.
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In its most recent trading update, Cupertino, California-based Apple posted all- time record revenue of US$111.4 billion for the first quarter ended 26th December, up 21 percent year over year, and quarterly earnings per diluted share of $1.68, up 35 percent. International sales accounted for 64 percent of the quarter’s revenue, Apple added.