Aeon Malaysia expects GE14, ringgit to boost consumer sentiment

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KUALA LUMPUR (Feb 2): Aeon Co (M) Bhd (Aeon Malaysia) said expectation of Malaysia's 14th general election this year and a stronger ringgit bode well for consumer sentiment. This is in anticipation that 2018 being an election year will create good factors for the retail industry.

Aeon Malaysia executive director Poh Ying Loo said this at a press conference here today after the launch of Aeon Malaysia's MaxValu Prime outlet at The Sphere within Bangsar South.

"It is a good year for consumer sentiment in 2018 because of the election together with a consumer-friendly [Budget 2018,] which was announced last year, as well as a strong ringgit.

"We believe these incentives will actually boost consumer consumption and I'm sure it is going to benefit not only us but also the retail industry as a whole," Poh said.

At 1:28pm today, the ringgit was traded at 3.8882 against the US dollar. Over the last one year, the exchange rate was between 3.8663 and 4.4618.