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

Start your ads-free experience now!

Monthly Plan


Annual Plan


Billed as RM148.00/year

1 month

Free Trial

For new subscribers only

Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

capital expenditure


Next In Business News

Waz Lian founder Tan Sri Ta Kin Yan passes away at 72
Oil posts weekly gain on solid 2024 demand outlook
Prabowo aims to raise Indonesia debt-to-GDP ratio toward 50%
Laundry Care ventures into linen rental business
Oriental Kopi files for Bursa IPO
BHIC wins RM1bil govt job
MI Technovation prepares for chip recovery
Local furniture export outlook hinges on US housing market
Luxury labels slash prices to attract wary shoppers
Delay in rate cuts but bonds rally

Others Also Read