Aeon Co allocates RM500mil capex for 2019

KUALA LUMPUR: Aeon Co (M) Bhd has set aside about RM500mil as capital expenditure (capex) to refurbish its existing stores including Daiso outlets.

Managing director Shinobu Washizawa said the capex was lower than a year ago as the group was focusing on refurbishment and expanding its delica or ready-to-eat (RTE) food segment.

“Delica or RTE such as the bakeries and light bites generate higher margins to the group. At the moment, it is contributing half of our supermarket sales,” he told reporters after Aeon Co’s shareholder meeting on Thursday.

“The delica and RTE segment is the fastest growing business for Aeon Malaysia at the moment, and this is the area that we want to focus on moving forward,” Washizawa said.

He added the refurbishment would include Aeon Taman Maluri Mall, which it is targeted to reopen in the second half of the year.