29 MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS OVERVIEW RETAIL SEGMENT Tenant % Total Income Padini 7.14% Brands Outlet 5.39% Kidz Republic 4.24% F.O.S 4.12% Caring Pharmacy 2.70% Sushi Zanmai 2.49% Thai Express 2.45% Kiehl’s 2.27% Bath and Body Work 2.22% MR. D.I.Y. 2.15% Top 10 Tenants CHALLENGES AND PROSPECTS The retail market in Malaysia has undergone significant transformation over the years, making it one of the most dynamic and exciting industries in the country. Malaysia’s retail sector has a rich history that dates back to the early days of trading. With influences from Malay, Chinese, Indian, and indigenous cultures, the market has always been a vibrant melting pot of goods and services. From traditional bazaars to modern shopping malls, the evolution of the retail landscape is remarkable. The rise of e-commerce has revolutionized the way Malaysians shop, and the pandemic has accelerated the shift towards online shopping. Retailers that invested in robust e-commerce platforms and omnichannel strategies experienced growth, while those reliant solely on physical stores faced challenges. Inspired to be the next Klang Valley by 2030, Johor Bharu is currently stands in a season of transition with few catalytic projects, among other Ibrahim International Business District (IIBD), the KL-Singapore High Speed Rail (HSR), the Johor Bharu-Singapore Rapid Transit System (RTS Link) and Coronation Square. Johor Bharu-Singapore Rapid Transit System (RTS Link) Ibrahim International Business District (IIBD)
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