L.A.
As a mom and a person who works retail, kids hanging out at malls can lead to lots of trouble.
If you do not feel he is ready, follow your gut feelings. He may be asking you for a way to get out of being in an uncomfortable situation? Ask him directly.
If you do allow him to "hang out" give him rules. No aimless wandering in and out of stores. Do not block the aisles. Be polite to people that are really working and shopping at the mall. If the food court is busy and he and his friends are taking up tables and chairs, but not eating, move to another area and allow the people with food to sit and eat. No running, yelling, spitting (yes the kids do this)and horse play. Set an exact time that they will be there. Make sure he has a little money. If he does not have a cell phone, let him borrow yours so you can contact him.
Maybe they should consider going to the movies, out for pizza, going to parks, putt putt, roller skating.
It is not always your own kids you have to worry about it is the other kids hanging out looking for trouble. It is hard to let them go out, but they do need the experiences. Just make sure he knows your expectations. He sounds like a good kid he will do great.