Aeon to ’wait and see’
KUALA LUMPUR: Japanese retailer Aeon Co (M) Bhd is adopting a wait-and-see approach when it comes to the planned abolishment of the Goods and Services Tax (GST).
Executive director Poh Ying Loo said Aeon was still seeking greater clarity from the Pakatan Harapan government.
“The GST question was something that was also posed by shareholders earlier and our stand right now is that it is too early to decide now,” said Poh after the group’s annual general meeting, here, yesterday.
“We understand that other policies and tax regimes such as the Sales and Services Tax (SST) will be reintroduced. We can’t really comment on the pricing until those things are made clear.”
Aeon has allocated between RM300 million and RM500 million in capital expenditures (capex) this year.
According to Poh, this was slightly lower than last year’s capex of some RM500 million.
“The capex is inclusive of our newest mall in Kuching, which was opened in April,” said Poh.
The remaining capex will be for the expansion of Taman Maluri Shopping Centre and the refurbishment of Tebrau City, Bandar Utama and Bandar Sunway.
As of the end of last year, Aeon had 26 malls across the country.
A big part its drive this year is to further strengthen its omnichannel strategy that will leverage its physical stores for offline experiences, logistics and convenience.