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AEONCR (5139) : AEON CREDIT SERVICE (M) BERHAD
ILoveDividend
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23 Apr 2012, 10:12 AMPost #1
AEON Credit 4Q earnings up 43%

KUALA LUMPUR: AEON Credit Service (M) Bhd posted a 43% increase in net profit for its 4QFY12 ended February to RM27.72 million from RM19.4 million a year ago. Revenue in 4Q increased by 27.9% to RM94.28 million, from RM73.73 million a year ago. For FY12, it posted a 50.7% rise in net profit to RM95.61 million from RM63.43 million a year ago on the back of increased revenue of 27.7% to RM344.27 million from RM269.61 million previously.

In notes accompanying its financials yesterday, AEON Credit said it realised growth in its business and receivables due to an increase in financing transaction volume, which was attributable to the continued favourable economic environment, and marketing and promotion activities.

Its total transaction and financing volume in 4Q and FY12 were RM440 million and RM1.66 billion respectively, representing a growth of 26.2% and 40.9% respectively from a year ago.

Meanwhile, its financing receivables at as end-FY12 stood at RM1.49 billion, representing a growth of 34.5% from RM1.11 billion in FY11. AEON Credit said that its non-performing loans (NPL) ratio was 1.8% as at Feb 2012 compared to 1.83% in February 2011, reflecting satisfactory asset quality despite a sharp growth in its business and receivables in the year.

It said other operating income of RM24.9 million for FY12 was 44.4% higher than the previous year, due to continued growth in fee income, especially for sales in insurance products and increase in bad debts recovered.

AEON Credit yesterday proposed a single-tier final dividend of 16.8 sen for FY12. Including this, total dividends for FY12 amounted to 30 sen. In FY11, it paid dividends amounting to 26.5 sen.

On its prospects, AEON Credit said it expects to be able to sustain its performance in FY13 based on its business strategies, and marketing and branding efforts.

AEON Credit shares closed three sen higher to RM8.74 yesterday, representing a year-to-date return of 26.7%, according to Bloomberg.

Its shares have been on an uptrend since RM4.50 levels in September 2011. Over the past 52-weeks it has traded between a high of RM9 in March 2012 and low of RM4.04 in April 2011.

This article appeared in The Edge Financial Daily, April 20, 2012.
chipster1234
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23 Apr 2012, 10:24 AMPost #2
oh man! went up really high todaystar pening
ILoveDividend
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23 Apr 2012, 10:30 AMPost #3
oh man! went up really high today...chipster1234 @ 23 Apr 2012, 10:24 AM

My forever pain, i did not buy it when it was RM5++ due to less than 10% dividend yield.doh
tzejinlau
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23 Apr 2012, 11:37 AMPost #4


My forever pain, i did not buy it when it was RM5++ due to less than 10% dividend yield....ILoveDividend @ 23 Apr 2012, 10:30 AM


dun say liao... i think i miss at 2.70 that time ....i think so...
Investor101
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23 Apr 2012, 04:49 PMPost #5
she has surpassed her sister!!! Woohoo!!!
petracot
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07 Jul 2012, 09:06 PMPost #6
Recently, Aeon Credit declared a 1:5 bonus issue. With closing price of RM11.24 per share, the theoretical ex-bonus price will be RM9.36 per share (will happen next few months). Due to the fast growing earning and consistent dividend payouts, I believe the ex-bonus price of RM9.36 will gradually climb back to RM11 in a year's time. As such, there is no hurry to sell the share; grow with the company!
petracot
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07 Jul 2012, 09:06 PMPost #7
---Deleted---
petracot
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13 Jul 2012, 07:09 PMPost #8
Aeon Credit has just submitted the proposal of bonus issue (1:5) to SC/Bursa for approval, which should be forthcoming in the next one or two months. This type application is normally for formality only. Those who want to ride on the band wagon of consistent earning and dividend growth still have time to do some shopping before the share goes ex-bonus in the next two months.
petracot
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18 Jul 2012, 01:30 PMPost #9
Aeon Credit is the market leader of easy payment and consumer financing in Malaysia. Although the customer base comprises mainly low to medium income groups, the gross profit margin is very high, in the region of 20%. The default rate is very low, around 1.8%, way below industrial average of 2%+.

Recent pay revision of civil servants augurs well for the company's business. The company is expanding every year, opening up new offices in major towns in both East and West Malaysia.

The company pays consistent dividends, increasing every year in tandem with growing income. Dividend of last financial year was 30 sen single tier. I predict that dividend of 30 sen will likely be maintained this financial year despite bonus issue of 1:5 pending approval.
ILoveDividend
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18 Jul 2012, 01:32 PMPost #10
Aeon Credit is the market leader of easy payment and consumer financing in Malaysia. Although the cu...petracot @ 18 Jul 2012, 01:30 PM

Hi petracot, you holding any AEONCR? This is a very good and stable stock. Happy for you. smile
petracot
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18 Jul 2012, 01:50 PMPost #11


Hi petracot, you holding any AEONCR? This is a very good and stable stock. Happy for you. ILoveDividend @ 18 Jul 2012, 01:32 PM

I did a bit of research on this company and am sharing this information for two purposes: Those who hold this company will not simply throw the shares despite the price appreciation because there is still plenty of room for growth. Secondly for non-holders, it's not too late to jump onto the bandwagon of growth of this company. From time to time I will release some of the relevant details of this company.
petracot
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18 Jul 2012, 09:42 PMPost #12
The company announced this evening that the bonus issue of 1:5 has been approved by Bursa Malaysia. This means it would not be long before the company determines the date of entitlement. As mentioned before in this forum, the ex-bonus price would very likely rise to pre-bonus price within a year because of the fasting growing earning. This would translate into 20% annual gain.
Investor101
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19 Jul 2012, 12:52 PMPost #13
The company announced this evening that the bonus issue of 1:5 has been approved by Bursa Malaysia. ...petracot @ 18 Jul 2012, 09:42 PM
i was hoping for 1:1 bonus like Aeon Co, but better than nothing:)
petracot
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02 Aug 2012, 04:50 PMPost #14
Having secured the approval of Bursa Malaysia, Aeon Credit is now seeking approval from shareholders for the Bonus Issue of 1:5 through an EGM on 28 Aug 2012. Again, this approval is only a matter of formality. This means The share will go ex-bonus sometime in September which is also the time to announce the financial results of 2nd Quarter. A set of sterling results is expected.
petracot
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21 Aug 2012, 02:17 PMPost #15
Aeon Credit is moving again, hitting intra-day high of RM11.88 on last Friday but closed off peak at RM11.52 before the long Hari Raya week end. Reason? Very simple. August 28 is drawing nearer, the date to approve the Bonus Issues of 1:5 in EGM. Secondly, the 2Q accounting period closed on August 20 which means the financial result of 2Q will be known very soon. As 2Q covered the Hari Raya shopping period, the earning is expected to see significant improvement. At the same time, an interim dividend of around 13.5 sen single tier will be announced before the end of September or early Oct. With these few goodies pending, it is anticipated the share price would probably hit RM12 mark within next 1 or two months.
petracot
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22 Aug 2012, 11:20 PMPost #16
Aeon Credit put up a spectacular performance today, adding 46 sen to close at RM11.98 per share. It touched intra-day high of RM12.10 in the morning. It was quite unexpected as most people thought that the push will only take place next 1 or 2 months. Anyway, Aeon Credit is now moving into uncharted water. How high it will go is anybody's guess. As a rule of thumb, take the latest earning, annualized it and multiply it by PER of 15 and that will give a rough estimate of fair price.
Investor101
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23 Aug 2012, 12:35 AMPost #17
Aeon Credit put up a spectacular performance today, adding 46 sen to close at RM11.98 per share. It ...petracot @ 22 Aug 2012, 11:20 PM
Petracot, Thanks for the sharing, I believe Aeon CR is one of those counters that goes up up and away, they are from the same management team as Aeon Co. Aeon Co has given 1:1 bonus in 2004 and another 1:1 in 2008...
petracot
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24 Aug 2012, 05:28 PMPost #18
Another spectacular day for Aeon Credit, closing at RM12.78 with a hefty increase of 72 sen. Intra-day high touched RM12.90 in the afternoon. It's quite puzzling why the price keep moving north. At this juncture, there are only 3 things unknown about the company. First, Aeon Credit Malaysia has a 20% stake in Aeon Credit India. Although this is a potential earning contributor, the operation has not really taken off yet. Secondly, the circulation of Aeon VISA Credit Card is growing; this could be a potential big earning contributor. Thirdly, 2Q dividend and earning is forth coming. This is quite predictable: dividend probably within the range of 13 to 15 sen while 2Q earning in the range of 20-25 sen per share. None of these factor justify the big push for the last few days. Most likely, it is the frenzy buying of shares ahead of the BI approval on 28 Aug.
petracot
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27 Aug 2012, 08:15 PMPost #19
Another day of big price push for Aeon Credit, hitting intra-day high of RM13.58 and closed at RM13.30, an increase of 52 sen. Tomorrow is the D-day for BI approval. Actually, there is nothing to speculate on about this event. It is public knowledge that this BI approval is a foregone conclusion. Nevertheless, it is interesting to watch how the stock will behave tomorrow.
Erik
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28 Aug 2012, 05:17 PMPost #20
The Chairman commented at this morning's EGM that although the Bonus Issue (1:5) is small, he hopes to see this meeting as a recurrent event. I presume what he meant was that another bonus of a similar quantum could be in the offing in future.

The bonus issue is expected to be completed in the middle of next month. The 2H result is expected to be announced thereafter. If the performance turns out to be impressive, we cannot discount the possibility that the market could bring its share price back to its pre-bonus level in view of the small (1:5) bonus issue.

The above statement is merely my personal opinion, upon which kindly exercise your own judgment.

yeah doh drool lol mad notworthy question rant rolleyes sad shutup shy smile star sweat thumbup wub cry


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