Aeon BiG gets RM150m financing from HSBC Amanah
KUALA LUMPUR: AeonBiG(M)Sdn Bhd has obtained RM150 million in Islamic financing from HSBC Amanah to support its expansion, fund basic working capital needs and grow its syariah-compliant projects.
The financing is crucial to facilitating the expansion plans of the retailer, said Aeon in a statement yesterday.
Aeon BiG, which is a part of Aeon Co Ltd (Japan), operates 21 hypermarkets in Malaysia.
The retailer is opening its newest store in Seremban tomorrow.
The financing from HSBC Amanah will be key to boosting Aeon BiG’s operations in Malaysia.
Aeon BiG managing director Sheikh Farouk Sheikh Mohamed said with tailored funding solutions, it is poised to accelerate its growth trajectory, expansion and refurbishment plans to deliver enhanced value to customers while staying true to its core beliefs.
“More and more clients are looking for flexible and scalable financial solutions to help them grow,” he said.
HSBC Malaysia global banking head Christina Cheah said the first Islamic financing for Aeon BiG will support its growth in Malaysia and free up working capital essential for the company’s operations while also allowing it to focus on other strategic initiatives.
“The appetite for innovative Islamic financing solutions is growing among domestic and international clients,” she said.
HSBC Amanah chief executive officer Raja Amir Shah said the cross-border collaboration between parent Aeon Co in Japan, Aeon BiG in Malaysia and HSBC offices in Malaysia and Japan demonstrates how they are leveraging international networks to connect clients with key opportunities offered by Islamic financing.