KUALA LUMPUR (July 16): AEON BiG (M) Sdn Bhd said it has managed to postpone the execution of a judgment in default against the company and can thus continue to operate its store in Subang Jaya.

On July 14, theedgemarkets.com reported that the Japanese retailer’s headquarters in Subang Jaya, where the store is also located, had been sealed over the company’s failure to settle the judgment sum of over RM142 million

The move is said to have shocked many parties, including competitors, shoppers and suppliers of AEON BiG.

In a statement yesterday, AEON BiG said the High Court in Alor Setar had allowed the company’s application for a stay of execution of the judgment in default dated June 9.

“As such, AEON Big store in Subang Jaya shall continue to operate as usual,” the company said.

A call to AEON BiG’s careline revealed that the outlet recommenced operations at 6pm on yesterday.

Meanwhile, the full hearing to set aside the judgement in default has been fixed for Aug 6, the company said.

The judgment was obtained by Mega Continental Sdn Bhd, a unit of Penang-based Belleview Group.

Mega Continental is believed to have sued AEON BiG after it vacated its store in Alor Setar ahead of the expiry of its lease. Mega Continental is understood to be the owner of the Alor Setar premises.

AEON BiG, in its statement, added that it had in November 2019 obtained a declaration in its favour from the High Court in Penang in relation to the agreement between itself and Mega Continental.

“AEON BiG highlighted that there are many important issues that the company should be looking at, such as preserving economic sustainability, protecting public health and providing continuous employment to the people. AEON BiG is committed to continue to move forward with great confidence,” the statement said.

The statement also said that AEON BiG has managed to turn around the company to become profitable in the first half of 2020 since taking over the stores from Carrefour in 2012.

“With the continuous support from our staff, vendors and suppliers, AEON BiG believes that this strong performance will continue throughout 2020,” it added.

Meanwhile, the company said that AEON BiG will be opening its 22nd store at Jaya One building in Petaling Jaya on July 23. The store will have a net lettable area of 41,527 sq ft and provide some 150 jobs.

Japan’s AEON Co Ltd owns 95.49% of AEON BiG. The remaining 4.51% is held by AEON South East Asia Sdn Bhd.

Stay safe. Keep updated on the latest news at www.EdgeProp.my
Click here for more property stories

Click here to see residential properties for sale in Selangor.

  1. MCT returns to the black with 1Q net profit of RM136k
  2. Shah Alam Sports Complex: Selangor identifies 10 sites for land swap process
  3. Sime Darby Property launches The Eighth with 70% take-up