Malaysia's shopping centre industry is expected to grow by 20 percent to more than RM50 billion (US$13.3 billion) by 2007, officials said.

According to the Malaysian Association for Shopping and Highrise Complex Management, more than 50 shopping centres are either being revived or are in the pipeline nationwide, to be opened over the next two years.

Association president Richard Chan said the number of shopping centres nationwide had grown by 20 percent since 2002 to a total of 220.

"Some of the new shopping centres are currently under construction with the majority scheduled to come onstream in 2007," Chan was quoted as saying by the Bernama news agency.

Optimistic

The association is also eyeing tourist shopping receipts to increase to as much as RM8.6 billion or 25 percent of total tourism receipts in the 2006-2007 period, he said.

"We are optimistic of achieving this, in line with 'Visit Malaysia Year' in 2007 which will see an increase in the number of tourists," Chan said.

Malaysia is targeting 19 million tourist arrivals during Visit Malaysia Year 2007, up from 15.7 million visitors in 2004 who generated total revenue of RM29.7 billion (US$7.9 billion).