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AEON CO. (M) BHD. GOING DIGITAL AMIDST MARKET UNCERTAINTIES




KUALA LUMPUR, June 25, 2020 AEON CO. (M) BHD. Thirty-fifth Annual General Meeting (35th AGM) was conducted for the first time entirely via virtual on June 24, 2020. Commenting on the financial results for the financial year ended 31st December 2019, YBhg Datuk Iskandar bin Sarudin, Chairman of AEON CO. (M) BHD. said, “AEON continued to record a growth in its performance with a revenue of RM4.539 billion and profit after tax of RM109.2 million. The commendable performance was mainly due to the revenue contributions from new Mall and Stores including Specialty Stores, and renovated Stores during the year under review. This has been achieved amid a subdued consumer sentiment with concerns over rising cost of living and uncertainties in business outlook and employment.

YBhg Datuk Iskandar added that on sustainability development, AEON continues to promote and integrate sustainability practices into its business operations that aligns with the Company’s principle of “Pursuing Peace, Respecting Humanity and Contributing to Local Communities, Centred on Customers”.

The Company announced that considering its 2019 profit performance, the company is pleased to declare a final dividend of 4 cent per ordinary share for the year ended 31st December 2019, the total amount payable is RM56 million which represent a pay-out ratio of 53.1% of 2019 profit.

Commenting about 2020, YBhg Datuk Iskandar said “2020 proved to be a very difficult year as a result of Covid-19 pandemic outbreak which have had a significant impact not only on the company but also on the industry and the country’s economy. AEON’s immediate focus is to ensure its core businesses remain resilient and to weather through these uncertain times via innovative ways to reach and allow its customers continue to enjoy great shopping experiences with AEON”.

En. Shafie Shamsuddin, Managing Director of AEON. CO. (M) BHD. presented the immediate measures implemented. Among them were the AEON Drive Thru, Personal Shopper and Home Delivery. Another reactive measure was the Berkat Ramadan Campaign which raised RM1.4 million together with Malaysia AEON Foundation (MAF) to purchase 300 Motorcycles for the unemployed due to covid-19 to become AEON Riders.

En. Shafie remarked, “We are embarking on strategies specifically on the new business model of O2O (Online to Offline to Online) and to work on this transformation, we have formed the AEON Leadership Council (ALC) that symbolizes the attributes of diversity, competency (including digitalization) and transparency.

“The O2O strategy will shift AEON’s business model to be more agile, resilient and intrapreneurial towards meeting customers’ real demand. On the costs front; AEON will put in place strong, effective and prudent cost control measures to manage its cashflows and costs,” concluded En. Shafie.

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About AEON RETAIL (MALAYSIA)

AEON Retail consists of two retails players namely AEON CO. (M) BHD. and AEON BIG (M) SDN BHD.

AEON CO. (M) BHD. is a leading General Merchandise Stores (GMS) cum Supermarket chain in Malaysia, with 28 AEON MALLs, 34 AEON Outlets, 10 MaxValu Prime Supermarkets across the country. Incorporated in 1984 in response to the Malaysian Government’s invitation to help modernize the country’s retailing industry. AEON’s chain of stores strives to satisfy the ever-changing needs and desires of consumers.

AEON BIG (M) SDN BHD currently operates 21 Hypermarkets under the trade name of “AEON BIG” in Malaysia. It offers BIG CHOICES, with GREAT VALUES. AEON Co Ltd purchased the shares of Magnificient Diagraph Sdn Bhd, in Malaysia on 31 October 2012. Pursuant to the acquisition, there was a change of company name from Magnificient Diagraph Sdn Bhd to AEON BIG (M) SDN BHD. The Acquisition is part of the AEON Group plans to expand the business in South East Asia and further develop their Asean operations

Guided by its “Customer First” philosophy, the company’s acute understanding of the target market needs, aided by optimal product-mix, AEON surpasses consumer expectations and enhances their experience every time they shop. In the spirit of the name AEON, which means eternity in Latin, AEON’s goal is to work together endlessly with its customers, suppliers, business partners, shareholders and the community to create a future of limitless promises.

AEON also strongly supports environmental sustainability by championing various recycling, energy conservation and tree planting causes, by engaging and encouraging various parties, including staff, customers, NGOs, government agencies and the community at large to participate.

For more information, please contact 1-300-80-2366 or; visit the respective site:
Website: http://aeonretail.com.my / http://www.aeonbig.com.my
Facebook page: http://www.facebook.com/aeonretail.my / http://www.facebook.com/MYAEONBiG
Instagram page: http://www.instagram.com/aeonretail.my
Online Shopping: www.myaeon.com.my

Almaiyah Abd Aziz
PR Manager
AEON CO. (M) BHD.
03-9207 6246