Stock Name: AEON
Company Name: AEON CO. (M) BHD
Research House: OSK

KUALA LUMPUR: OSK Research is maintaining its NEUTRAL recommendation on AEON Malaysia at a Target Price of RM5.88, which is based on 13 times FY11 EPS.



It said on Monday, Sept 13 that as AEON Malaysia was not involved in the bidding process for Carrefour SE Asia's assets, there was no change to its earnings forecast.



On Sept 1, Reuters quoting three sources familiar with the matter confirmed that AEON Japan will bid for Carrefour Southeast Asia's assets.



However, due to the low bid price, AEON Japan and Tesco have lost their bids for Carrefour's Asia assets, the Wall Street Journal reported on Sunday.



Companies which have progressed to the next round of bidding, set for November, are France's Casino Guichard-Perrachon and Thai-owned Big C Supercenter PC, Thai retailer Central Group, Thai consumer products manufacturer Berli Jucker and Thailand's largest energy conglomerate by revenue, PTT which runs convenience stores at its gas station.



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