Sunday, November 4, 2007

AEON aims to build shopping centre in Bandar Nusajaya

AEON aims to build shopping centre in Bandar Nusajaya
Story By : Lim Yu Min

KUALA LUMPUR: AEON Co (M) Bhd (Aeon), which operates the Jusco stores, wants to put up a shopping centre in Bandar Nusajaya.

Aeon has offered RM106.97 million to buy a 15.11-hectare piece of land within the Bukit Indah Township in Johor. Bukit Indah is part of Bandar Nusajaya, which in turn, is a key component of the Iskandar Development Region (IDR). Bandar Nusajaya is being developed by UEM Land Sdn Bhd.

Bukit Indah Township is a 10-year-old mixed residential development, situated approximately 16km north-west of the Johor Bahru city centre.

Aeon says its plan to construct a shopping centre is in line with its corporate strategy of accelerating the expansion of its retail business through opening of new outlets and shopping centres.

The proposed acquisition will be fully satisfied by cash and financed through the company¡¦s internally generated funds. It is not expected to have any material impact on the EPS (earnings per share), NTA (net assets per share) and net gearing of the company.

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