KUALA LUMPUR (May 21): Aeon Co. (M) Bhd will continue to be challenged going further into 2015 and the implementation of the goods and services tax (GST) has caused tremors and negative perception among consumers, according to its chairman Datuk Abdullah Mohd Yusof.
Speaking after the company’s AGM today, he however remained confident that Aeon would meet the challenges head-on and continue to be positive.
Meanwhile, Aeon managing director Nur Qamarina Chew said the cost of doing business had risen.
“We have also been accelerating our expansion to have a bigger market share. So in this area, our cost and expenses go up,” said Nur Qamarina.
Abdullah said Aeon had set aside an increased capex of RM700 million this year (from about RM670 million last year) for the development of Aeon's upcoming malls, namely the Shah Alam and Klebang malls which are to be opened sometime in the fourth quarter of this calender year, and the Kota Bharu mall, which should open sometime between the first and second quarter next year.
Aeon rose 0.64% or two sen to RM3.15 with 230,700 shares done in the morning session today.