<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on November 1, 2018</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Retailer Kamdar Group (M) Bhd said its outlets at Mid Valley Megamall here and SS2 in Petaling Jaya will be closed effective immediately.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia yesterday, Kamdar said the tenancies have expired and it has decided not to renew them.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Also, the SS2 outlet was not profitable, it added.</p></div>

<div class=newsTextDataWrapInner><p>“(As for) the Mid Valley branch, if we had renewed the tenancy at the increased rental rate, the store would no longer be profitable,” said Kamdar.</p></div>

<div class=newsTextDataWrapInner><p>It noted that nevertheless, there will be no significant financial or operational effect on Kamdar upon the closure of the two outlets.</p></div>

<div class=newsTextDataWrapInner><p>Kamdar shares were untraded yesterday. They last closed at 30 sen on Monday, for a market capitalisation of RM60.39 million.</p></div>


KUALA LUMPUR: Retailer Kamdar Group (M) Bhd said its outlets at Mid Valley Megamall here and SS2 in Petaling Jaya will be closed effective immediately.

In a filing with Bursa Malaysia yesterday, Kamdar said the tenancies have expired and it has decided not to renew them.

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