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KUALA LUMPUR, Malaysia (July 7): After its net profit for the first quarter ended May 31, 2021 (1QFY22) increased by 521 percent to RM163.09 million, AEON Credit Service (M) Bhd topped Bursa Malaysia’s gainers list this morning.
This morning, the stock jumped as much as 52 sen, or 4.41 percent, to RM12.30 before reversing part of its gains.
With 101,800 shares traded at 9.41 a.m., the counter was still up 46 sen or 3.9 percent to RM12.24, giving it a market valuation of RM3.01 billion.
The company claimed yesterday that a surge in other income, which includes bad debts recovered, insurance commissions, and interest or profit income from accounts with licensed financial institutions, contributed to its much higher 1QFY22 results.
Due to a growth in transaction and financing volume, the group’s quarterly revenue increased by 5.41 percent to RM410.97 million from RM389.88 million a year before.
This quarter, however, it did not issue any dividends.
Also read:AEON Credit’s first-quarter net profit soars sixfold to RM163 million, with no dividends declared
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