$AEONCR / 5139 (AEON CREDIT SERVICE (M) BERHAD)
Research by RHB
Buy – TP RM8.80

“Off To a Decent Start; Stay BUY"

StayBUY,newMYR8.80TPfromMYR7.90,18%upside,c.4%FY25F(Feb) yield. 1QFY25 results met our and consensus expectations. Financing receivables continued their strong growth momentum and asset quality indicators showed some YoY improvement, though opex – mostly revenue- linked items – were also on the rise. We continue to like AEON Credit Service for its strong growth outlook and decent valuation.

Analysts:
Nabil Thoo
nabil.thoo@rhbgroup.com
David Chong CFA
david.chongvc@rhbgroup.com