Latest news with #AeonCreditService(M)Bhd
The Star
5 days ago
- Business
- The Star
Aeon Credit issues 10th sukuk wakalah of RM150mil
KUALA LUMPUR: Aeon Credit Service (M) Bhd has made its 10th issuance of sukuk wakalah under the Islamic commercial papers (ICP) programme today, with a total nominal amount of RM150 million and a 179-day tenure starting from July 14, 2025. "The proceeds will be utilised for financing of disbursements to customers in the ordinary course of business of providing consumer financing based on Shariah principle, financing expenses relating to the ICP programme, and refinancing any existing and future Islamic financing facilities of the issuer,' it said in a Bursa Malaysia filing. - Bernama
Barnama
6 days ago
- Business
- Barnama
AEON Credit Issues 10th Sukuk Wakalah Of RM150 Mln
KUALA LUMPUR, July 14 (Bernama) -- Aeon Credit Service (M) Bhd has made its 10th issuance of sukuk wakalah under the Islamic commercial papers (ICP) programme today, with a total nominal amount of RM150 million and a 179-day tenure starting from July 14, 2025. 'The proceeds will be utilised for financing of disbursements to customers in the ordinary course of business of providing consumer financing based on Shariah principle, financing expenses relating to the ICP programme, and refinancing any existing and future Islamic financing facilities of the issuer,' it said in a Bursa Malaysia filing. -- BERNAMA
New Straits Times
6 days ago
- Business
- New Straits Times
Aeon Credit Issues 10th Suku Waklah of RM150 mln
KUALA LUMPUR: Aeon Credit Service (M) Bhd has made its 10th issuance of sukuk wakalah under the Islamic commercial papers (ICP) programme today, with a total nominal amount of RM150 million and a 179-day tenure starting from July 14, 2025. "The proceeds will be utilised for financing of disbursements to customers in the ordinary course of business of providing consumer financing based on Shariah principle, financing expenses relating to the ICP programme, and refinancing any existing and future Islamic financing facilities of the issuer," it said in a Bursa Malaysia filing.
The Star
08-07-2025
- Business
- The Star
Aeon Credit net profit falls 27% to RM77.5mil in 1Q
PETALING JAYA: Aeon Credit Service (M) Bhd maintains a cautious business stance due to ongoing global trade and tariff policy uncertainties, prevailing geopolitical tensions, inflationary pressures and volatility in global financial markets. For the first quarter ended May 31, 2025 (1Q26), Aeon Credit saw a 27% year-on-year (y-o-y) decline in its net profit to RM77.5mil or earnings per share of 15.19 sen due to higher operating and interest expense, lower other income and higher losses from associate. Revenue, on the other hand, was up by 15% y-o-y to RM599.92mil, mainly attributable to stronger loan and financing growth. In 1Q26, the group said non-performing loans (NPL) ratio increased to 2.57% as at May 31, 2025 as compared to 2.46% as at May 31, 2024, and corrective actions have been taken to address the NPL ratio increase. Loan loss coverage ratio remained healthy at 217% as at May 31, 2025, but was marginally lower than the 222% recorded as at May 31, 2024. The ratio of total operating expenses against revenue for 1Q26 also rose to 68.5% as compared with 63.5% in 1Q25, mainly due to higher impairment losses on financing receivables. In a filing with Bursa Malaysia, the group said it will continue to remain prudent, placing emphasis on growing quality assets and closely monitoring the inherent credit risks in its financing portfolios. Nonetheless, barring unforeseen circumstances, the group expects to be able to sustain its business momentum by implementing the appropriate measures for the financial year ending Feb 28, 2026.
New Straits Times
08-07-2025
- Business
- New Straits Times
Aeon Credit's Q1 net profit falls 27pct on losses from digital bank
KUALA LUMPUR: Aeon Credit Service (M) Bhd's net profit fell by 27.1 per cent to RM77.55 million in the first quarter (1Q) ended May 31, 2025, from RM106.41 million a year ago. This was largely due to a RM15.92 million loss from its associate, Aeon Bank. The group said in a statement today that Aeon Bank's losses were a result of ongoing investments in product development, IT infrastructure, and operating expenses, which align with its roadmap to deliver differentiated digital banking products. "These are upfront investments in technology, talent, and marketing to support long-term growth," it said. However, Aeon Credit's quarterly revenue improved to RM599.92 million from RM522.26 million previously, driven by stronger loan and financing growth. Earnings per share fell to 15.19 sen from 20.84 sen in 1Q 2025. Meanwhile, Aeon Credit recorded a 13.9 per cent growth in total transaction and financing volume, reaching RM2.25 billion in 1Q 2026 from RM1.98 billion in 1Q 2025. The group said this growth was underpinned by its continued strategic expansion into the middle-income segment. Targeted marketing campaigns have improved both the payment business and personal financing, with growth of 22 per cent and 23 per cent respectively compared to the corresponding quarter last year. Correspondingly, gross financing receivables rose to RM14.63 billion, an increase of 15.6 per cent year-on-year, driven by the payment business, personal financing, and vehicle financing. The group's non-performing loans ratio improved to 2.57 per cent, down from 2.64 per cent as of February 2025. On prospects, Aeon Credit said it continues to adopt a cautious approach in its business operations and remains prudent, focusing on growing quality assets via middle-income segment expansion while closely managing credit risks within its financing portfolios. The group said it is also strengthening its digital infrastructure to enhance operational efficiency and build a customer-centric ecosystem through the Aeon Living Zone. Ongoing collaborations within the group aim to deepen customer engagement, expand market reach, and strengthen brand loyalty through a unified digital ecosystem. "Looking ahead, barring any unforeseen developments, Aeon Credit remains cautiously optimistic about sustaining resilient business performance for the financial year ending Feb 28, 2026. "The group will continue to prioritise operational efficiency and pursue strategic investments, including in technology, to drive long-term sustainable growth," it said.
