Poor Ramadan sales distress M'sian retailers

Kuala Lumpur

AS the Muslim fasting month draws to a close, Malaysian retailers are lamenting the most dispiriting Ramadan sales in years, adding to evidence recent hard decisions on taxes and subsidies might be costing the economy its main growth engine.

The fasting month is traditionally the busiest time of the year for Malaysian retailers, but the retailers association is predicting a plunge in Ramadan sales of as much as 20 per cent compared with last year. "Shoppers are more cautious with their money," said Indah Asbiran, who sells traditional Malay costumes for women at a stall in Tunku Abdul Rahman bazaar, the grande dame of festive shopping in Kuala Lumpur. "You see people walking by but not buying much."