KUALA LUMPUR (May 22): Retirement Fund Inc, better known as Kumpulan Wang Persaraan Diperbadankan (KWAP), has emerged as a substantial shareholder in AEON Co (M) Bhd (KL:AEON) after acquiring more than 1.56 million shares in the company.
In a filing with Bursa Malaysia on Friday, the operator of the Japanese supermarket chain in Malaysia said the transaction was carried out on May 20. Based on the closing price of RM1.16 on that day, the stake acquisition would be valued at about RM1.82 million.
KWAP, the statutory body managing the pension scheme for Malaysia’s public sector employees, will become the third Malaysian statutory body to hold a substantial stake in AEON Co.
Following the transaction, KWAP holds 43.2 million shares, or a 3.08% direct stake, and 27.9 million shares, or a 1.99% indirect stake, in AEON Co.
AEON Co’s parent company, AEON Co Ltd, remains the largest shareholder with a controlling stake of more than 52%, followed by the Employees Provident Fund with 7.61% and Lembaga Tabung Haji with 5.09%.
AEON Co reported a net profit of RM83.7 million for the first quarter ended March 31, 2026 (1QFY2026), up 23% from RM68.1 million a year earlier, driven by higher sales of better-margin products and stronger income from its property management services segment. Revenue was flat at RM1.24 billion.
The group is targeting the opening of AEON Mall KL Midtown by end-2026, while development is underway for a new two-storey mall as part of the expansion of AEON Mall Seremban 2. AEON Permas Jaya and AEON Taman Universiti have also been earmarked for renovation this year.
AEON Co shares fell one sen, or nearly 1%, to RM1.14 at Friday’s close, giving the group a market capitalisation of RM1.6 billion.