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Dubai jeweller makes big investment in Malaysia

Firoz Merchant, chairman of UAE-based Pure Gold Jewellers has said the firm expects to invest $150m over the next five years to set up jewellery projects in Malaysia, Gulf Today has reported. The Malaysia project will include retail jewellery business and the manufacturing of jewellery in its initial phase, he said. The company has already invested over $8m in setting up new stores in Dubai Mall, Abu Dhabi Mall, Fujairah City Centre and Dragon Mart in UAE and Souk Waqif in Qatar, Merchant said.