AEON (6599) AEON CO (M) BHD - THIS STOCK GOING TO KABOOM!!!

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DATE : 10 December 2020

STOCK  : AEON CO. (M) BHD 

 

 

 

 

AEON - Accumulate between the resistance level at RM0.99 and Support Level RM0.94. All indicator is strong. Once it stand above RM1.00. Let us see will it KABOOM and continue to bullish?

 

 

Kim's Target Price:

 

[TP1: RM1.06 - TP2 RM1.20 - TP3 RM1.50]

 

Call Warrant :  AEON-CZ (3.5c)  - TP's : 0.10 - 0.15 cents ranges

 

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WHAT I WANT TO SAY?

 

1. AEON is trading below estimate of fair value (RM1.78)

2. AEON will be able to benefit from the recovery of the economy and consumer spending. On top of that, valuation appears much more attractive now. Although consumers increasingly shop online especially since the pandemic, I think that offline shopping will continue to have its place with an experiential offering that online shopping cannot displace

3. AEON is good value based on its PE Ratio (21x) compared to the XA Multiline Retail industry average (22.7x).

4. AEON dividend (4.17%) is higher than the bottom 25% of dividend payers in the MY market (1.45%).

5. AEON returned to the black with a net profit of RM16.36 million in its third quarter ended Sept 30, 2020 (3QFY20), after the retailer slipped into net loss of RM9.56 million in the preceding quarter ended June 30.

 

 

BUSINESS PROFILE

 

Aeon Co.(M) Bhd. operates a chain of departmental stores and supermarkets in Malaysia. The company sells clothing, food, household products, and other merchandises. It also operates shopping centers, pharmacies, shopping malls, and flat price shops. In addition, the company offers financial and credit services; and property management services to malls. As of December 31, 2019, it operated a total of 34 departmental stores cum supermarkets; and managed and operated a total of 28 shopping malls. The company was formerly known as Jaya Jusco Stores Bhd. and changed its name to Aeon Co. (M) Bhd. in September 2004. The company was founded in 1984 and is headquartered in Kuala Lumpur, Malaysia. Aeon Co. (M) Bhd. is a subsidiary of Aeon Co., Ltd.

 

 

 

TOP SHAREHOLDERS

 

51.68% - Aeon Co., Ltd. 725,640,000 MYR696.6m

13.65% - Employees Provident Fund of Malaysia 191,666,400 MYR184.0m

4.99%   - Standard Life Aberdeen plc 69,999,100 MYR67.2m

4.92%   - Permodalan Nasional Berhad 69,028,000 MYR66.3m

2.72%   - Kumpulan Wang Persaraan 38,220,300 MYR36.7m

2.28%   - DBS Group Holdings Limited 32,035,300 MYR30.8m

1.35%   - CIMB Group Holdings Berhad18,948,800 MYR18.2m

 

 

 

 

 

LETS FLY & LETS ROCK!

 

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Best Regards,

 

KIM 

 

 

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