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HwangDBS sees promising growth prospects for Aeon Credit
by Cals Fri 19 Apr 2013, 16:46
HwangDBS sees promising growth prospects for Aeon Credit
Business & Markets 2013
Written by Bernama
Friday, 19 April 2013 14:37
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KUALA LUMPUR, April 19 (Bernama) -- HwangDBS Vickers Research has forecast promising growth prospects for AEON CREDIT SERVICE (M) BHD [] (ACSM), driven by its core businesses.
In a note today, HwangDBS said it expects loan growth to be sustainable at above 20 per cent, with net profit forecasts of RM156 million (16 per cent increase year-on-year) in financial year 2014 and RM191 million (22 per cent year-on-year) in financial year 2015.
"Efforts are being made to also expand its other income, and the new initiative includes business process outsourcing (BPO), payment gateway and e-money," it said.
It said ACSM has kicked off the BPO with credit recovery services for third party and launched prepaid cards (under payment gateway) on a small scale.
"We view this positively as ACSM diversifies its revenue base to grow income which is not capital intensive," it added.
HwangDBS said the company's strong financial year 2013 results were as expected, as the fourth quarter financial year 2013, was largely driven by strong income growth from vehicle easy payments.
The research house has maintained a "hold" call at a target price of RM16.10.
Business & Markets 2013
Written by Bernama
Friday, 19 April 2013 14:37
A + / A - / Reset
KUALA LUMPUR, April 19 (Bernama) -- HwangDBS Vickers Research has forecast promising growth prospects for AEON CREDIT SERVICE (M) BHD [] (ACSM), driven by its core businesses.
In a note today, HwangDBS said it expects loan growth to be sustainable at above 20 per cent, with net profit forecasts of RM156 million (16 per cent increase year-on-year) in financial year 2014 and RM191 million (22 per cent year-on-year) in financial year 2015.
"Efforts are being made to also expand its other income, and the new initiative includes business process outsourcing (BPO), payment gateway and e-money," it said.
It said ACSM has kicked off the BPO with credit recovery services for third party and launched prepaid cards (under payment gateway) on a small scale.
"We view this positively as ACSM diversifies its revenue base to grow income which is not capital intensive," it added.
HwangDBS said the company's strong financial year 2013 results were as expected, as the fourth quarter financial year 2013, was largely driven by strong income growth from vehicle easy payments.
The research house has maintained a "hold" call at a target price of RM16.10.
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