Aeon Credit, a subsidiary of the esteemed Aeon Japan, holds a dominant position in the motorcycle loan market in Malaysia. Most people in Malaysia know of the Aeon brand name from their departmental stores. Aeon Credit is the credit business arm of Aeon. With their comprehensive credit solutions, they empower individuals and businesses, combining their parent company's global expertise with tailored financing options to drive success in the ever-evolving financial landscape. The company recorded a revenue growth of 7.6% to RM1.64 billion for the financial year ended 28 February 2023 (“FYE23”) compared to RM1.52 billion recorded inthe preceding year ended 28 February 2022 (“FYE22”). Aeon Credit is also one of the options for installment payment at electrical store chain Sen Heng.
Aeon Credit's highly anticipated 2023 Annual General Meeting (AGM) took place at the prestigious Intercontinental Hotel in Kuala Lumpur. The event commenced with an indulgent breakfast buffet, setting the tone for a productive AGM ahead.
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During the AGM, an important topic brought up by investors was the frequent unavailability of Aeon Credit's eWallet system, which had been undergoing consistent maintenance. Recognizing the inconvenience caused, Aeon management highlighted their commitment to enhancing the system's reliability and security, with plans to leverage AI technology for improved loan judgements—a promising initiative aimed at streamlining their services. One of the key measures this year was to reduce exposure to high-risk borrowers group.
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Adding to the excitement, attendees were pleasantly surprised by this year's AGM door gift—an RM50 credit loaded onto the Aeon Prepaid card. Aeon Prepaid card is different from their eWallet which is another different system. This versatile card allowed recipients to conveniently pay for parking at Aeon malls and make purchases within the Aeon shopping mall, further integrating Aeon Credit's services into everyday transactions.
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As the AGM concluded, participants were treated to a thoughtfully prepared breakfast pack, leaving the event with both valuable insights and satisfied appetites. The gathering proved to be an engaging platform where shareholders and stakeholders witnessed Aeon Credit's commitment to progress, promising an exciting future for the company and its customers.