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Article: Cash-rich AEON scraps REIT plan
- Article from:
- New Straits Times
- Article date:
- September 7, 2009
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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Vasantha Ganesan
New Straits Times
09-07-2009
Cash-rich AEON scraps REIT plan
Byline: Vasantha Ganesan
Edition: Main/Lifestyle
Section: Business Times
Type: Company
RETAILER and mall operator AEON Co (M) Bhd has scrapped its plan to set up a property trust, one of the company's options to raise funds, as it has enough cash to expand.
Managing director Nagahisa Oyama said it has enough money in its coffers to grow its business without having to raise funds.
"AEON has money to open two to three outlets each year ... so we do not need to do a REIT (real estate property trust)," Oyama told Business Times in an interview.
Companies with a lot of assets can form a REIT as a way to raise funds. ...
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