Hypermarket chain Aeon Big gets RM150mil loan for expansion

Hypermarket chain Aeon Big gets RM150mil loan for expansion

Financing facility, extended by HSBC Amanah, will also be used to support day-to-day operations.

Aeon Big managing director Sheikh Farouk Sheikh Mohamed (left) and HSBC Amanah CEO Raja Amir Shah exchanging copies of the financing facility agreement after the signing ceremony.
PETALING JAYA:
Hypermarket chain Aeon Big (M) Sdn Bhd has secured a RM150 million Islamic financing facility to underwrite a business expansion plan that will see the opening of its newest store in Seremban tomorrow.

The facility, extended by HSBC Amanah and a first for Aeon Big, will also be used to support its day-to-day operations in Malaysia.

Aeon Big, which is part of Aeon Co Ltd of Japan, now has 21 hypermarkets in Malaysia.

The financing facility was secured through a collaboration HSBC Amanah has with Aeon Co in Japan and Aeon Big in Malaysia.

In a statement issued to the media today, Aeon Big said the financing facility is key to its plan to boost its operations in Malaysia.

It managing director, Sheikh Farouk Sheikh Mohamed, said the infusion of new working capital will help the chain accelerate its growth trajectory, expansion and refurbishment “to deliver enhanced value to our customers”.

Head of global banking at HSBC Malaysia Christina Cheah said Aeon Big is among a growing list of clients that are looking for flexible and scalable financial solutions to help them grow.

HSBC Amanah CEO Raja Amir Shah said more of the bank’s domestic and international clients are now seeking Islamic financing solutions.

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