Aeon Credit allots RM120m capex for FY19

KUALA LUMPUR: Aeon Credit Service (M) Bhd has doubled its capital expenditure (capex) to RM120 million this year, from RM60 million last year, to invest in its operations and business expansion.
Its executive director and CFO Lee Kit Seong said the capex will be utilised for its branch transformation and digital marketing initiatives, the upgrading of its system infrastructure and for the introduction of its e-money business.
Aeon Credit will also be launching two new products in FY19, in line with the company's digital initiatives, namely the Aeon Wallet and Aeon Member Plus Card that will provide customers with payment, privileges and benefit to complement the evolving customer lifestyle, attracting customers from all segments to go cashless.
Lee expects the company to maintain its momentum for FY19, with strong domestic demand being the key driver for growth, along with its transformation business model and continuous improvement in asset quality under the new MFRS9 environment.