July 7, 2021

AEON Credit Most Profitable!

 AEON Credit Service (M) Bhd topped the list of top gainers in Bursa Malaysia's trading session this morning after posting a net profit of 521% to RM163.09 million in the first quarter ended May 31, 2021.

The counter's shares rose 52 sen or 4.41% to RM12.30 this morning.

At 9.41am, the counter recorded an increase of 46 sen or 3.9% to RM12.24 with 101,800 shares traded, bringing its market capitalization to RM3.01 billion.

Yesterday, the company said the profits recorded in the first quarter of this year were contributed by recovered bad debts, insurance commissions and interest income or profits from deposits with licensed financial institutions.

The company's quarterly revenue increased slightly by 5.41% to RM410.97 million from RM389.88 million in the same period last year due to a surge in transaction and financing volumes.

However, the company did not announce any dividends during the quarter.