Malakat Mall, the once-promising shopping centre in Cyberjaya, will cease operations on 31 July, just four years after its grand opening.
The news has sent shockwaves through the community, with many questioning the sustainability of businesses built on religious or racial sentiment.
Mohd Fadzil Hashim, the founder of Malakat Mall, took to Facebook on Thursday to address the closure.
He stated that the company would focus on strengthening its online presence after the closure.
Malakat Mall and Mara Digital Mall’s Shared Struggles
However, the announcement has left many patrons and observers wondering if the “Buy Muslim First (BMF)” campaign, which Malakat Mall heavily promoted, ultimately contributed to its downfall.
The campaign encouraged consumers to prioritize Muslim-owned businesses and drew criticism from some quarters for its perceived exclusivity.
Some were dumbfounded by the mall’s closure, given that Malays, who are Muslim, are believed to have the most significant buying power in Malaysia.
“Business built on religion or race sentiment will not work,” commented one social media user, echoing the sentiments of many who believe that the key to success lies in providing quality products and services at the right prices, regardless of the owner’s background.
Masalahnya simple, semua peniaga2 BMF Ni tunggang sentiment bangsa tapi barang diorang Mahal nak mampos.
Kata nak tolong Melayu tapi sebenarnya tipu Melayu. Kata nak bersaing dengan peniaga cina tapi produk mereka pun resale barang dari peniaga cina.
Baik beli terus dari cina. https://t.co/VZe6Rpzi3O
— ModerateOutcast (@SnappyCraps) July 19, 2024
Many have drawn comparisons between Malakat Mall and Mara Digital Mall, which also faced challenges due to its focus on a specific demographic.
Similarly, the MyKampung Freshmart supermarket, owned by well-known independent preacher Firdaus Wong Wai Hung, also faced closure despite its focus on serving the Muslim community.
The supermarket, which aimed to provide halal and affordable groceries, ultimately failed to sustain its operations.
Mcm speedmart la. Ramai supporter BMF marah konon jgn support speedmart sbb kedai cina. Ha yg melayu islam tu buatla kedai yg bole lawan speedmart tu. Elewsmart tu pun yg guna agama lastly tutup sbb mahal. At the end org cari jgk speedmart sbb murah. Tak kisah melayu ke cina.
— کيك ڤندن ݢولا ملاك 🇲🇾 (@afarefabadi) July 18, 2024
Malakat Mall’s Last-Ditch Efforts
As part of its closing down sale, Malakat Mall offers discounts of up to 70% on its assets from Saturday until 31 July.
The company also plans to scale down its operations, moving its food and beverage business into the Casa DeMadani building in Cyberjaya, which will be transformed into a restaurant.
Retail units will shift entirely to online sales at www.malakat.com, while the Malakat Grocer will maintain its operation only at Taman Kosas, Ampang.
The Risks of Faith-Based Investing
Mohd Fadzil also mentioned that the company would assist the Malaysian Islamic Consumer Development Cooperative (KoPPIM) buy back shares from members who wish to sell.
Many KoPPIM members had invested in Malakat Mall, hoping to support and benefit from the growth of a Muslim-friendly business venture.
“KoPPIM remains a strategic cooperative which, if its strength is properly harnessed, will succeed in becoming a builder of the Ummah economy,” he stated.
However, the closure of Malakat Mall has left these investors facing potential losses, raising questions about the viability of investing in businesses based primarily on religious or racial affiliations.
The closure announcement appears to have caught KoPPIM off guard, as the cooperative is now seeking an explanation from the management of Malakat Mall regarding the sudden decision.
A Lesson in Inclusive Business Strategies
The rise and fall of Malakat Mall serve as a cautionary tale for businesses that rely heavily on religious or racial sentiment to attract customers.
While catering to specific demographics can be viable, it should not compromise inclusivity and quality.
As the retail landscape continues to evolve, businesses must adapt and focus on providing value to their customers, regardless of their background.
The closure of Malakat Mall is a stark reminder that success in the business world requires more than just appealing to a particular group’s sentiments; it demands innovation, quality, and a commitment to serving all customers with excellence.
