By Wilfred Pilo
KUCHING, Feb 18: Plaza Merdeka Holdings Sdn Bhd managing director Dato Steve Ng asserts that the retail and hospitality market is changing and the industry needs to adapt by learning from experiences.
He pointed out that the Covid-19 pandemic had altered the landscape of the retail and hospitality industry and in order to capture the different market segments, the said industry has had to transform.
“Due to this transformation (to cater to different demands), many shopping centres appear busier than before. It is therefore good for business as retail itself has transformed and has changed to tap the market segments.
“So business in our industry must continue to adapt to these changes,” he told DayakDaily when met at the Chinese New Year (CNY) open house hosted by himself and his wife Datin Anriza Cordero at The Waterfront Hotel here today.
Plaza Merdeka Holdings Sdn Bhd operates and manages The Waterfront Hotel and the Plaza Merdeka shopping mall.
Meanwhile, Ng said that hospitality and tourism players, which include shopping centres and hotels, must always anticipate changes in the market.
“Even during the Covid-19 pandemic period, we were still looking forward, but now we have overcome this major challenge of the pandemic.
“With the State and federal governments’ support, the banks, and everybody’s support, whatever you look at is minor.”
Ng said that he sees a positive vibe in his mall’s tenants, and they are happy as they can tap the young consumer market segment.
“My management team constantly evaluates which tenants are suitable for which space and how to continue to evolve as the market segment and demographic changes all the time.”
Ng also emphasised the importance of strategic locality and was glad the mall and hotel is at a tourism iconic location in the city.
“We see foreigners and locals gravitate to this historic and tourism iconic district. The iconic attractions like the new iconic flag pole, our State Legislative Assembly (DUN) building, the ‘S’ Bridge, the museum (Borneo Cultures Museum) and all the other historic attractions are near my establishment.
“We see good organic growth, and we expect 2024 to be another (year of) positive business outlook for the retail and hospitality industry here,” he said.
Among the guests at Ng’s CNY open house were Deputy Prime Minister Dato Sri Fadillah Yusof, Sarawak Financial Secretary Dato Sri Wan Lizozman Wan Omar, State Legal Advisor Dato Sri JC Fong, former Deputy Chief Minister Datuk Patinggi Tan Sri Dr George Chan Hong Nam, and former Sarawak State Secretary Tan Sri Mohamad Morshidi Ghani. — DayakDaily
