Aeon Credit doubles FY19 capex to RM120m

KUALA LUMPUR: Aeon Credit Service (M) Bhd has doubled its capital expenditure (capex) allocation to RM120 million for the financial year ending Feb 28, 2019 (FY19), against RM60 million in FY18.

Chief Finance Officer Lee Kit Seong said the allocation would be for branch transformation, digital marketing and strengthening of digital initiatives under its e-money platform.

“The company has plans for branch transformation, digital marketing initiatives and to upgrade system infrastructure. 

"We have been in the business for over 20 years and (our) volumes, as well, as our customer base are growing and we need to have the capacity to support our operation and business,” he told reporters after Aeon Credit's annual general meeting here today.  

Lee also said two new products would be launched this financial year, namely Aeon Wallet and Aeon Member Plus Card to provide customers with payment, privileges and benefits. - Bernama

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