Positive, for continuous organic growth. AEON Co.'s recent land
transaction at Kulai, Johor, which should be near the newly opened Johor
Premium Outlet (JPO), is positive for its provides an organic growth to
the group which already has a good reach in the Klang Valley. We
maintain our forecasts and PER based RM7.90 target price (14x 2012) as
earnings contribution will be beyond 2013. AEON Co. is our top pick for
consumer sector. Maintain Buy.
Maybank research (22 December 2011)
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