AEON和AEONCR在同一天进行了年度股东大会，
由于都能从家里直接看股东大会直播，
所以幸运地让我听了不少的重点。
先来说说AEON方面好了。（想看AEONCR的可以跳到下面。）
以前的AEON股东大会，
大部分的股东提问都由Executive Director Mr Poh问答，
不过这次半年前新上任的Managing Director Mr Shafie却很积极地回答各种提问，
令我对他留下非常好的印象。
可能有很多人觉得比起举办实际的股东大会，
举办线上股东大会可以省很多钱，
不过管理层说了其实省下来的钱很Insignificant。
然后有很多股东提问关于公司未来运营的方针，
和应对疫情的策略等。
Mr Shafie的回答很清楚，
就是公司接下来一、两年都不会扩张开新Mall，
并且会把发展资金都投资在Digital Asset而非Physical Asset。
重点就是这个：
https://myaeon.com.my/
可能你会说现在才开始网上购物，
已经太迟了吧......
但有变通好过没变通。
以前公司不把网上购物当作重点，
现在则开始认真对待，
把资金全都投入进去，
可能会有所转机呢？
当然我个人也希望AEON的网上购物能够做得好，
那么我就不用每次都得亲自过去AEON买东西~
接下来是AEONCR方面。
过去一年公司注重在M40层级客户，
推出了一系列产品：
1) Executive Personal Financing scheme
2) Premium MOPED financing
3) Premium bicycle for Objective financing
4) New car & Japanese used car financing
5) Platinum credit card
公司目前在MOPED贷款市场的市占率是30%左右，
Consumer Financing方面，
公司开始扩展以囊括一些跟健康管理有关的产品，
如脚踏车和按摩椅等。
关于SME Financing方面，
公司说会非常小心谨慎，
只会在公司整体放贷Portfolio中占有不明显的比例，
毕竟公司的专长是在Consumer Financing。
公司目前的Average interest rates是介于3.16%到4.49%之间，
Average yield是17.09%左右。
公司主要的Funding是来自Bank borrowings和Debt Capital Market，
利率减低对公司的好处是Funding Cost降低了。
MCO期间，
公司分行全部停止营业，
但在CMCO期间，
申请个人贷款的客户增加了。
因为MCO期间公司让客户自动两个月不用还贷款，
所以目前NPL没有受到影响。
尽管可以两个月不用还贷款，
但还是有30%左右的客户照常还款。
然后公司也推出AEON Relief Program，
让无法一次过还累计两个月贷款的客户refinance那笔数目，
可以分期长达两年慢慢还。
这项服务申请期限到9月30日，
目前已有20%左右的客户参与ARP。
有股东提问说AEON E-wallet会如何跟市面上各种E-wallet竞争？
管理层回答说AEON E-wallet不会跟市面上的E-wallet竞争，
因为AEON E-wallet的定位只是Retail Loyalty E-wallet，
(个人觉得比较像是会员卡之类而已....)
然后今年12月31日之前所有普通的AEON会员卡都会换成E-wallet的AEON Member Plus Visa Card。
有股东提问公司有没有打算进军Digital or Virtual Bank，
管理层说公司一直都不会拒绝任何的机会，
并会持续寻找新的商机。
以上就是一些部分的股东大会内容。
面对疫情，
AEON选择专注在网上购物，
推出AEON Online。
AEONCR则体贴客户，
担忧客户还不起贷款，
不只让客户两个月不用还款，
还推出AEON Relief Program帮助客户。
这两家公司面对变故而做出改变，
在未来会对公司盈利有何帮助呢？
就让我们拭目以待吧！
投资就是自己思考，自己做决定，
并对自己所做的决定负起责任。
感谢阅读。
以上言论没有任何买卖建议，
大家买卖自负。
The AGM of AEON and AEONCR were held at the same day,
luckily I was able to listen parts of both the AGM since both were virtual AGM,
which I just watched it at the comfort from my house.
I will talk about AEON first. (You can skip to below for AEONCR.)
I attended AEON AGM few times before,
usually Executive Director Mr Poh is the one who always answer shareholder's questions.
HOWEVER,
this time the newly appointed Managing Director Mr Shafie is the one who anwered most the questions,
he only appointed around half year ago but already left a good impression at me.
A lot of people thinking that virtual AGM can save a lot of money comparing with the actual AGM, but the management said the money saved is actually insignificant.
Many shareholders also asked question about future strategy,
changes because of the outbreak.
The answer from Mr Shafie is very clear,
there will no new mall opening for the next one to two years,
instead the company will invest more at Digital Asset and not Physical Asset.
The main point is this:
https://myaeon.com.my/
Maybe you will say that is too late to start online mall now,
but changes is better than just standing still right.
Last time AEON didn't take the online shopping seriously,
but now the management changed attitude,
and started focus on it,
so maybe there will be light at the end of the tunnel?
Personally I also hope that AEON online shopping platform will be a success,
so that I don't have to go to AEON but instead just a few clicks at home then the groceries will come to my house~
Next is about AEONCR AGM.
For the past one year,
the company focused more on M40 customers and designed all these products:
1) Executive Personal Financing scheme
2) Premium MOPED financing
3) Premium bicycle for Objective financing
4) New car & Japanese used car financing
5) Platinum credit card
The company market share at MOPED financing market is around 30%.
As for Consumer Financing,
the company expanded to healthcare related products,
such as bicycle, massage chair and etc.
For SME Financing,
the company said that they are always prudent and careful at it,
and it will remain insignificant in total financing porftfolio,
since the company is expert at Consumer Financing.
The average interest rate is between 3.16% to 4.49%,
average yield is aroud 17.09%.
Main funding is from Bank borrowings and Debt Capital Market,
the low interest rates favor the company because the funding cost will be lower.
During MCO period,
all the branch stopped operating,
but during CMCO period,
there is a rise in Personal Financing application.
The NPL ratio still remains low since the customers enjoyed loan deferment for 2 months,
however 30% of the customers chose to opt out from it.
The company also started AEON Relief Program,
so that the customers who are not able to repay that 2 months repayment,
they can refinance it for max 2 years.
The program application will be lasted until 30th September,
currently around 20% customers applied for it.
There is a shareholder asked about how AEON E-wallet will be competing with the many E-wallets?
The management replied that AEON E-wallet will not compete with other E-wallets,
as its position is just Retail Loyalty E-wallet,
(personally I feel like it is just eletronic member card....)
all the current AEON member card users are required to change to AEON Member Plus Visa Card by the end of this year.
When asking about Digital or Virtual Bank,
the management replied that they are always open for opportunities and continue to look for new business.
That's all about what I heard from the virtual AGM.
During the outbreak,
AEON chose to focus on online shopping.
AEONCR chose to help the customers,
by having 2 months loan deferment and AEON Relief Program.
How will the changes help with the profitability of the company?
Let's just wait and see!
Investment is about doing own thinking,
making own decision,
and you take full responsibility of your own decision.
Thanks for reading.
I don't provide any buying/selling suggestion above,
please make your own investment decision and be responsible with it.
List of articles year 2018
