A year-end sale will be held in Malaysia from Saturday to Jan. 5, 2014, offering discounts, bargains and promotions at major shopping malls.

The annual shopping event will be centered in Kuala Lumpur, home to popular shopping malls such as Suria KLCC, Pavilion Kuala Lumpur and Bukit Bintang. CNN Travel has listed Malaysia as the fourth-biggest shopping destination, followed by New York, Tokyo and London.

The Malaysian tourism office said luxury items will be offered at 20 percent off on average with the implementation of the duty and tax policy since 2011 that cuts tax on luxury goods as part of the government’s strategy to position the country as the preferred shopping destination for tourists. (wylee@heraldcorp.com)