Thursday, 8 March 2012

Aeon Co. Malaysia plans RM350m capex this year

KUALA LUMPUR (March 8): AEON CO. (M) BHD [] has allocated RM350 as capital expenditure for this year which includes opening a department store in Sri Manjung in Perak by year-end.

The company is also undertaking a RM10 million rebranding exercise to change the name of its department stores from Jusco to Aeon.

To recap, in 1984, Aeon Japan Ltd of Japan was invited by the Malaysia government to modernise the retail industry in Malaysia. Since then, it had been operating the Jusco stores under its subsidiary company, Aeon Co. (M) Bhd.

But with the group moving towards globalisation, it is taking on the global brand name of Aeon for all its stores and shopping centres.

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