Aeon Credit Boasts Of Satisfactory Dividend Payout And Digital Banking Amid Concerns of Credit Loss
Aeon Credit Boasts Of Satisfactory Dividend Payout And Digital Banking Amid Concerns of Credit Loss
As at 4:19 pm on Monday, Aeon Credit's stock traded at RM6.99. (Stock updates from )Aeon Credit Service (M) Berhad (Aeon Credit) registered a higher-than-expected credit loss for the quarter ended 31 August, 2024 (Q2FY2024/2025), but positive sentiment can be felt around the group's dividend payout ability and RM300m deposits from its digital banking portal.
aeon信貸服務（大馬）有限公司（aeon信貸）在2024年8月31日結束的季度（Q2FY2024/2025）報告了高於預期的信貸損失，但團體的股息支付能力以及來自數字銀行門戶的3億林吉特存款仍然散發着積極的情緒。
Kenanga maintains its OUTPERFORM call and target price of RM8.35 for Aeon Credit, noting that Aeon Credit's recent impairment surprise arose from an update of its Loss Given Default (LGD) model inputs and that the impairment issue will be assessed on a periodic basis.
肯安納維持對aeon信貸的表現看漲呼叫和8.35林吉特的目標價，指出aeon信貸最近的減值驚喜源於其損失給定違約（LGD）模型輸入的更新，並且減值問題將定期評估。
Analysts at RHB favour Aeon Credit as a top pick and and maintain their BUY call for the counter. They expect a higher Dividend per Share (DPS) from Aeon Credit, putting the company's yields closer to its industrial peers. Nevertheless, the target price of Aeon Credit has been revised from RM8.80 to RM8.40.
RHb的分析師青睞aeon信貸作爲首選，並保持對該股票的買入呼叫。他們預計aeon信貸的每股股息會更高，從而使該公司的收益率接近其行業同行。儘管如此，aeon信貸的目標價已從8.80林吉特調降至8.40林吉特。
As at 4:19 pm on Monday, Aeon Credit's stock traded at RM6.99. (Stock updates from )
截至週一下午4:19時，aeon信貸的股價爲6.99林吉特。（股票更新從）
It is noted that the Expected Credit Loss (ECL) for Q2FY2024/2025 was higher-than-projected. The group clarified that it was due to updates in its LGD model to reflect the sale of off-balance sheet recoveries. As understood, this is simply an updated estimate of recoveries from accounts that have been off its books. (Note: Loans are written off after 9 months in arrear.) This led to an additional RM30m of impairment, which without would have kept the six-month earnings of FY2024/2025 to be within expectations at 49% of the pre-revised earnings forecast.
注意到Q2FY2024/2025的預期信貸損失高於預期。該團體澄清說，這是由於更新其LGD模型以反映報價表外回收的更新。據了解，這只是關於從其業務賬上已被清除的帳戶的回收的更新估計。這導致額外的3000萬林吉特的減值，如果沒有這項減值，將使FY2024/2025的六個月收益保持在預調整的預期收益預測的49%內。
In a company statement dated 26 September, Aeon Credit said Q2FY2024/2025 revenue jumped 14.8% year-on-year to RM541.43m, compared to RM471.73 in the corresponding quarter of the preceding financial year (FY2023/2024). The group also announced an interim dividend of 14.25 sen per share, implying a 41% dividend payout ratio.
在2021年9月26日的一份公司聲明中，aeon信貸表示，Q2FY2024/2025的營業收入同比增長了14.8%，達到了5.4143億林吉特，而上一財政年度（FY2023/2024）對應季度的營業收入爲4.7173億林吉特。該團體還宣佈每股14.25仙的中期股息，暗示41%的股息支付比率。
On the digital front, Aeon Bank has retained an active user base of 80k of which 60% are new customers to the Aeon ecosystem. The bank did see a plunge from its peak deposits base of RM800m to RM300m, largely due to yield-seekers withdrawing their funds following the end of its campaign launch. That said, this is still above its target of RM200m.
就數字化方面而言，aeon銀行保留了8萬活躍用戶群，其中60%是aeon生態系統的新客戶。該銀行的存款基數從最高的8億林吉特下跌至3億林吉特，主要是由於追求收益的人在其活動推出結束後提取資金。即便如此，這仍高於其2億林吉特的目標。
While the group will likely incur more marketing spend to support its new customer acquisition efforts, Aeon Bank has retained a strong base of customers and will cross promote services to both Aeon Credit and Aeon Bank customers in the near term.
儘管集團可能會增加更多的營銷支出來支持其新客戶獲取工作，但aeon銀行已經保留了強大的客戶基礎，並將在短期內向aeon信貸和aeon銀行客戶交叉推廣服務。
譯文內容由第三人軟體翻譯。
