KUALA LUMPUR: Aeon Credit Service (M) Bhd
aims to maintain its business momentum by leveraging on the wider Aeon Group of Companies grouping database.
This will allow it to expand its customer reach as it plans to enhance its information technology capabilities to improve on its operational efficiencies.
It would like to capitalise on the ecosystem from the bigger AEON Group in Malaysia.
These measures are planned for implementation in the financial year 2025 ending Feb 28 (FY25), the company said.
Aeon Credit said it is adopting a cautious stance on its outlook due to the existing geopolitical tensions, inflationary pressures and ongoing volatility in global financial markets.
"Nevertheless, the group will continue to remain prudent and cautious, placing emphasis on growing quality assets and closely monitoring the inherent credit risks in its financing portfolios," it said in the notes to its financial statements.
In its first quarter ended May 31, Aeon Credit posted a 7.1% year-on-year (y-o-y) increase in its net profit to RM106.4mil as basic earnings per share rose at the same quantum to 20.84 sen.
Revenues for the quarter rose by 15.4% yoy to RM522.3mil while total transaction and financing volume in the current quarter was higher by 7.8% to RM1.975bil.
