Saturday 30 Sep 2023
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KUALA LUMPUR (Sept 19): Aeon Credit Services (M) Bhd was the top loser on Bursa Malaysia in late morning trade after RHB Research downgraded the stock to "neutral" (from "buy") at RM16.48 with a lower fair value of RM18 (from RM18.70) to reflect asset quality risks.

At 10.41am,Aeon Credit fell 2.79% or 46 sen sen to RM16.02 with 80,700 shares done.

In a note Friday, RHB Research the company’s 2QFY15 results met house and consensus expectations but asset quality had deteriorated, with the NPL ratio rising to 2.65% from 2.18% at end-1QFY15.

“While management said the rise was seasonal, we believe there may be lingering concerns,” it said.

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