Hawkers and Petty Traders Association chairman Datuk Ang Say Tee said many shops were closing down in the coming months as they could no longer cope with the rising operational costs and diminishing profits.

“The are about 500 shops on this street and I have learnt that many are prepared to close if business does not improve soon.

“All types of businesses are affected ranging from food and clothing to computer services and stationery.

“Business has not been good in the last two years and have turned for the worse, now, for many of the proprietors here.

“Many have been holding on hoping for better times but it is only getting worse, so they have decided to call it a day before they lose more money,” he revealed.

He added that some did not want to disclose that they were closing down as they were afraid of being harassed over unsettled loans.

A trader that StarMetro spoke to, who refused to be named, said the operational cost was too high to sustain in the present slow economy.

“Manufacturers set a minimum limit for orders. Small retailers are forced to purchase in big numbers to get a lower rate, but then we struggle to sell these items over a long period of time. As manufacturers do not entertain small orders, we are forced to resort to buying from other retailers at a higher price, which will reduce our profit margin. Traders are caught in this tight situation.

“Other challenges include increasing cost of raw materials and higher salary demanded by the workers. All these add up to the increased price of the item for sale and the consumers are not happy,” he pointed out.

Another businessowner, who also declined to be named, said the poor business was also partly due to the relocation of the buses from Pudu Sentral to Terminal Bersepadu Selatan, which had a huge impact on the number of visitors to the area.

“Some in transit or have time to spare upon arriving at Pudu Sentral or before their bus leaves, will do some shopping at the nearest attraction ‘Petaling Street’. With fewer long-haul buses here, the movement of people in the area also reduced,” he said.

Traders along the neighbouring Jalan Sultan are also feeling the pinch.

Steven Ng, whose computer services shop has been open the last 10 years, said he had been thinking of relocating.

“Business has not been good. There was a time when I was making RM2,000 a day and it went down to RM1,000. Now it is only about RM500. The shop rent is between RM10,000 and RM15,000, and with the additional Goods and Services Tax (GST), operations have become very expensive. With reduced revenue, a lot of traders here are finding it tough to cope with the high rental. The electricity bill has increased too.

“I am now in negotiation with a neighbouring business to see if it is feasible for us to share space to reduce our overheads and continue our businesses in Jalan Sultan,” he said.

Another trader, who only wanted to be known as Low, said he had been thinking for the past couple of months about closing down,

“Numerous other shops have already shut down,

“I have also thought about moving out, but I am bound by my tenancy agreement. I will have to access the situation when the time comes. I have been doing business for over three years now and the biggest burden is the rental and GST.

“There are fewer customers and they are less willing to spend money,” he added.

Malaysian Garment Wholesale Association secretary-general Tan Paen Sim acknowledged that many in the clothing industry were closing down because of online shopping.

“Online shopping poses the biggest challenge to traditional clothing stores.

“If one cannot sustain, it is better to close shop now than incur debts. Some still hope to come back to the business when the economy improves.

“Some of them who have temporarily halted their businesses are either taking time off or seeking other jobs to supplement their income,” he said.

The famous art supplies shop in Petaling Street, which has been around since 1969, Venus Art and Stationery is pulling down its shutters for good at the end of May. The store is currently clearing its stock by giving big discounts.

Owner Yap Chin Fatt, 84, said the decision to close shop was made at the end of last year.

“The shop is open from Monday to Saturday from 9am until 5pm, and I am here every day overseeing the operations. If business was good, I would have continued. But it is not. It has become a struggle to sustain this business.

“But I have no debts and I am not afraid to inform the public.

“We are very grateful for all the support that we have received over all these years from the art fraternity that has kept us going,” he said.

The family is also in the business of manufacturing art supplies under the brand name of Fairbro and Fairbreno, so they will focus on that for now.

Yap said that ever since the computer age in the new millennium, his retail business had seen a slowing trend.

“It has come to a point that many do not emphasise or appreciate manual work anymore.

“In our early years, schools and universities gave us a lot of business. Students were required to do illustrations and other artwork by hand back then, but now everything is done with the click of a mouse. As such, various items have become obsolete.

“For example, the demand for technical pens, widely used for architectural, engineering and technical drawings which were priced at between RM200 and RM400 a set has dropped overnight because of the computer age and sudden shift to digital drawing.

“I still have these sets which I bought in bulk four years ago. Few people want to buy it even if I give them a 50 per cent discount. Even the manufacturers have stopped producing them.

“What am I going to do with these pens?” he said.

“We are mulling the idea of going online to sell our products.

“When I started this business, my friends were sceptical of its success. Art stationeries were said to be a very difficult thing to sell. But I saw the potential in it as it was very versatile.

“I travelled a lot and sourced for the latest art supplies from all over the world, which gave my shop a edge over the others. My business flourished.

“But with the advance of computer technology which came on fierce and strong, we have foreseen this outcome,” he conceded.

So after nearly five decades of hard work, the father of three and avid traveller said he was ready to retire.

“It is a little sad and emotional but it is time to move on. It is time to stretch my wings,” he said.

One of his loyal customers, Intan Syarafana Rosman, 18, came all the way from Lenggeng, Negri Sembilan, to buy art supplies at Venus one last time.

“I found this shop two years ago. I love it because it has a wider range of supplies compared to other stores. Word got out among the artists about the closure and I had to make this trip to get my supplies from here one last time,” she said after taking a photo with Yap for keepsakes.

Federal Territory MCA chairman Datuk Yew Teong Look urge Kuala Lumpur City Hall (DBKL) and the Federal Territories Ministry to help promote Petaling Street as it was a unique tourist spot.

“Perhaps the change in the surrounding environment has led to the current state.

“With the congestion in the area, it is natural to find poor response from the public.

“Economy is not good and competition is stiff now that there are many neighbourhood malls built for the convenience of the people.

“My advice is for businessmen to adapt to the changes and look for ways to survive during this trying time. Property owners can help by lowering rental to encourage the businesses to continue, because they too may be on the losing end if there are no takers.

“Petaling Street is unique, DBKL and the ministry should help promote this area and get back its former glory,” said Yew, who is also Wangsa Maju MCA division chairman.