UPDATED: Firefighters say a fault in an electrical switchboard caused the blaze at Melbourne’s Little Saigon Market.

On Wednesday morning, the Metropolitan Fire Brigade’s Assistant Chief Fire Officer Peter Thomas told media that while the building did not have working fire alarms or sprinklers, it was still compliant.

Co-owner Loc Lam said the building did have a regularly serviced fire alarm system, but conceded it was possible the system failed to activate.

“This is a difficult time for everyone, the tenants, because they have prepared the goods and merchandises for Christmas, New Year and the Vietnamese New Year, ” Mr Lam told TiVi Tuan-san over the phone, “We will try to build up again the business centre.”

“This centre plays an important role within our community. The Maribyrnong City takes high regards the contribution of this centre.

“This is why they have named this centre “Little Saigon Centre Precinct” and have developed a 14-milion dollars project with a carpark and more shops around our Little Saigon Shopping Centre.”

The Little Saigon market is an important hub for the local Vietnamese community in Melbourne’s western suburb of Footscray.

It was engulfed by flames after 6am on Tuesday, destroying stalls and shops inside.

No one was hurt in the fire.

Mr Lam said about 30 shops and 25 leases were in the building. He added that early indication suggests an estimated damage bill could exceed $12 million.

Mr Lam also said it could take at least two years before the market was fully restored.

– TiVi Tuan-san