Shares buyback stop price drop. Meanwhile Parkson still continue shares buyback. I notice this counter because when I check Bursa daily announcement on sharebuyback Hapseng, Parkson likely appear but recently Hap Seng no more appear.
Hope hapseng's CEO , CFO & Managing Directors heard my voices throught this stock forum. Hope they will plan to push up Hapseng to the next higher price.
there may be some action tomorrow or this week before Friday. Just bear with it, all who played HapSeng before will know this stock once wake up will sprint for it. :)
Joel, I still do not understand why you think it will go up by 27/7. There is nothing in the calendar that will act as a catalyst. At best I think end August as that is when the 1/4 results come out.
"Hap Seng's subsidiary is disposing two pieces of leasehold land in Sabah
Hap Seng Consolidated Bhd's subsidiary is disposing two pieces of leasehold land in Sabah for RM278m. The disposal is expected to bring a net gain of approximately RM199.5m to the company. (Malaysian Reserve)"
Land's cost is only RM77 million. I do not think impact is much on future development. The profit on disposal is about >8 sens EPS and should be recorded inside this coming quarter release.
Just to share with you guys, their strategy now is to have their property arm to spearhead its group businesses.
They intend to use property to further drive its credit financing business, which is the most profitable of the group. They see an opportunity to create value there when banks are tightening loan approvals for buying property. I like the direction that this company is adopting for now.
I guess it means that the company has sold 1,785,400 shares that were previously held under Treasury shares.
This means that percentage of public float of the shares is higher. Unless the shares were sold to a controlling shareholder, but then they would have had to make another announcement for that. So i would take it that the company has sold off the shares to the public/someone and raised RM6.26m.
Leon7, I don't know if credit financing has relevant license in giving out loan to end user. I'm not from banking industry. The plan is good if it's workable
HJey, good point. From what I currently know they provide financing to businesses. I will check out further regarding this proposed synergy and update accordingly. Cheers.
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rlch
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Posted by rlch > 2014-07-14 22:25 | Report Abuse
Shares buyback stop price drop. Meanwhile Parkson still continue shares buyback. I notice this counter because when I check Bursa daily announcement on sharebuyback Hapseng, Parkson likely appear but recently Hap Seng no more appear.