Hope the new CEO Ono Keiji will inject new breath into AEON Co (M) business and corporate structure. He has successfully expanded AEON shopping malls in Cambodia when he served as president of AEON Cambodia
ya food stuffs sold at pasar pagi or pasar malam are not cheap anymore, AEON supermarkets offer similar fresh quality food at similar prices or cheaper. One fresh whole chicken for just RM8.90 per bird, anyone?
Furthermore, with inflation running high and food stalls & restaurants raising prices, consumers may cut down on eating / dining out, and cook more at home to save costs. AEON is offering essential grocery items in RM50 or RM100 packs with great discounts, to help consumers reducing costs.
I was not aware of such a short position in AEON but 5m shares are not big.
I suspect most of these short positions were entered into in May when AEON share price was trading at RM1.55-1.69 and daily volume exceeds 3.0 million shares. With the subsequent drop in share price to RM1.26-1.28, I think most of the short positions had been unwound then, left now with net 5.0m shorts.
I expect these shorts will be covered soon when the shorties see that share price is well supported and an excellent June quarterly result announcement is coming in 2 weeks.
Hi dragon......unfortunately your summation of the short position is not accurate.
The net short position has been gradually increasing for quite some time and has only stopped quite recently. This has been one of the reasons I decided not to enter into the stock, as there appeared to be another game at play going on.
Once it went above 5 million shorts it started to slow down, with not much covering going on. This is something worth watching daily to see if anything substantial changes, imo.
Operating cashflows before tax and capex was strong at RM283 million for 1H 2022, annualised to RM565 million. Again the cash tax was high at RM52 million, higher than usual 25% plus prosperity tax. Anyway it is way higher than the operating cashflows of RM455m for FY2021.
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