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Malaysia in transition

A year after stunning victory, Mahathir bites bitter economy

Najib slams government for slowing growth as experts say Malaysia needs major reform

Malaysian Prime Minister Mahathir Mohamad's approval rating is falling fast. (Nikkei Montage)

KUALA LUMPUR -- A shopping mall at the foot of Kuala Lumpur's iconic Petronas Twin Towers has recently lost one of its two department store tenants.

Parkson Holdings, a local department store chain, closed the three-story 12,000 sq.-meter store in February after two decades of operation. Like many other traditional retailers, Parkson faced stiff competition from modern malls and e-commerce. The company noted in its financial statement for 2018 that it needed to transform its business as global economic and market uncertainties make its operating environment "challenging."

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