[%ydQR%] 
Research by Kenanga
Market Perform – TP of MYR 1.21

“Growth Plan Undeterred by Soft Patch ” 

AEON anticipates better YoY growth for 1HFY24 despite a softer 2Q in the absence of major festivities, and due to less favourable product mix as well as elevated inflation. It will deploy a premium lifestyle concept at its KL Midtown mall due for opening by end-2025. We maintain our forecasts, TP of RM1.21 and MARKET PERFORM rating.

Analyst(s):
 Cheow Ming Liang 
[%iyDS%]

$KLSE-AEON 
Research by Kenanga
Market Perform – TP of MYR 1.21

“Growth Plan Undeterred by Soft Patch ” 

AEON anticipates better YoY growth for 1HFY24 despite a softer 2Q in the absence of major festivities, and due to less favourable product mix as well as elevated inflation. It will deploy a premium lifestyle concept at its KL Midtown mall due for opening by end-2025. We maintain our forecasts, TP of RM1.21 and MARKET PERFORM rating.

Analyst(s):
 Cheow Ming Liang 
cheowml@kenanga.com.my