Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on April 3, 2020

KUALA LUMPUR: AEON Retail (Malaysia) will grant a 28-day rental waiver to qualified tenants throughout the partial lockdown or movement control order (MCO) period that began on March 18 and scheduled to end on April 14.

The offer is given to non-essential businesses that are unable to operate during this period, but they will be assessed on a case-to-case basis, and subject to terms and conditions.

The waiver will be enforced at all 28 AEON Malls and 18 AEON BiG Mall Hypermarkets, nationwide, the company said in a statement.

“We thank our partners and retailers for their valuable support during these trying times and we understand their predicament. We express our support as we help ease their financial burden by offering them a waiver of rental during the first and second MCO period,” said AEON Retail (Malaysia) chief executive officer Shafie Shamsuddin.

Shafie also reiterated that AEON Retail will continue to ensure its stores maintain sufficient stocks nationwide, in light of the second phase of the MCO, and advised its customers not to engage in panic buying.

He also stressed that the company is practising social distancing, and urged all shoppers to constantly maintain their distance while shopping in their stores.

The company’s staff are also stationed throughout its malls to ensure that customers are keeping their distance from one another.

Additionally, there are controls in place to ensure that only a limited number of shoppers are able to access its outlets at any given time.

Customers are also required to stand at a designated spot before proceeding to make payments at cashier counters.

AEON Retail is a subsidiary of AEON Co (M) Bhd, whose shares closed at RM1.08 per share yesterday, giving the group a market capitalisation of RM1.52 billion.

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