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Aeon Malaysia reports second-quarter loss due to Covid-19

An Aeon store in Malaysian city Johor Bahru.

Japanese mall brand Aeon’s operations in Malaysia have reported a net loss of US$2.3 million for its second financial quarter this year.

The losses, which followed a first-quarter net profit of $1.8 million, are being considered as an effect of the coronavirus outbreak and the movement control orders executed in the territory and subsequent closures of non-essential tenants, along with lower rental pricing. It is a drop of 19.9 per cent from the same period last year.

According to The Edge Markets, Aeon MD & CEO Shafie Shamsuddin said that recent months had been a tough journey, while expressing gratitude to the group for managing to bounce back in May and June.

Aeon Malaysia’s current priorities include enhancing its safe-shopping environment with its personal shopper and home delivery services, as well as the launch of its online virtual mall. The group’s malls expanded their drive-thru services to more locations following an introduction of the service using personal shoppers in March.

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