Posted by lkoky > 2017-02-21 19:14 | Report Abuse

fantastics results... if only the exceptional gain is not exceptional. hahaha.

Posted by Good_result > 2017-02-21 20:53 | Report Abuse

Now become profitable and net cash.

Posted by Good_result > 2017-02-21 20:58 | Report Abuse

Parkson hide profit in income tax expenses(still unpaid).

Posted by Good_result > 2017-02-21 20:59 | Report Abuse

Cash per share 79 sen higher than market price.

Posted by yucaihacai > 2017-02-21 21:07 | Report Abuse

ks55 按捶。在新年期间，百盛股价在 0.625 徘徊了一段低潮时间。妈的，跌到酱低都没人买。现在股价已站上 70仙，就一直攻击百盛。你休想它跌到 62.5仙…

Posted by yucaihacai > 2017-02-21 21:11 | Report Abuse

tranquilfinny，是你没去百盛购物罢了。大把马来人去百盛购物。现在 BRIM season, 更多人有多余的钱去购物。

Posted by noah > 2017-02-21 21:28 | Report Abuse

有一些business sense吧。
拿br1m根本不是百盛的target customer。
可能the store， tesco， econsave多一些。

Posted by newbie66 > 2017-02-21 21:32 | Report Abuse

This ks55 damn poor. No money to buy a single stock. Very pity old man. At least Calvin ada sporting unlike him.

Posted by noah > 2017-02-21 21:36 | Report Abuse

Profit/(loss) before tax 431m
Exceptional items gain 489m
Loss: 58m

Estimated income tax (Did not include tax due to one off gain)
~ 3.2m + 10m = 13.2m

Assume without one off gain,
Nett Loss would be around RM71.2m.

One good thing is that Malaysia division at least no longer making losses and making 13m profit.

Posted by 3iii > 2017-02-21 21:54 | Report Abuse

>>>Posted by noah > Feb 21, 2017 09:36 PM | Report Abuse

Profit/(loss) before tax 431m
Exceptional items gain 489m
Loss: 58m

Estimated income tax (Did not include tax due to one off gain)
~ 3.2m + 10m = 13.2m

Assume without one off gain,
Nett Loss would be around RM71.2m.

One good thing is that Malaysia division at least no longer making losses and making 13m profit.<<<

Thks for summarising the whole quarterly results so clearly.

Posted by firehawk > 2017-02-21 22:00 | Report Abuse

Ha Ha Ha!

Posted by yucaihacai > 2017-02-21 22:27 | Report Abuse

Highlight
Parkson returns to profit in 2Q on disposal gain
By Yimie Yong / theedgemarkets.com   | February 21, 2017 : 7:03 PM MYT   

Translated by Google Translator: 
选择语言​▼
KUALA LUMPUR (Feb 21): Parkson Holdings Bhd returned to the black after four successive quarters of losses in the second financial quarter ended Dec 31, 2016 (2QFY17), posting a net profit of RM72.67 million or 6.76 sen per share against a net loss of RM31.44 million or 2.88 sen per share a year ago, helped by a gain on disposal of a subsidiary in China.

Quarterly revenue was flat at RM1.05 billion in 2QFY17 compared with RM1.04 billion in 2QFY16.

In a filing with Bursa Malaysia today, Parkson said included in the pre-tax profit of RM431.47 million in the current quarter were a gain on disposal of a subsidiary in China amounting to RM802.3 million and impairment losses on intangible assets and other receivables of RM313.2 million.

For the six-month period ended Dec 31, 2016 (6MFY17), Parkson's net profit fell 68.29% to RM10.1 million or 0.95 sen per share from RM31.85 million or 2.92 sen per share in 6MFY16.

Revenue for 6MFY17 fell 2.54% to RM1.92 billion from RM1.97 billion a year ago.

On its prospects, Parkson said while intensifying competition and change in market landscape are expected to continue, the group's retailing operations will benefit from the higher consumer spending during the Chinese New Year festivities in the next quarter.

"In order to ride through the current challenges, the group is committed to delivering its transformational strategies in close alignment with the evolving retail markets, which include, among others, enriching its retail format and expanding its product and services offerings; optimising store effectiveness and efficiency; and enhancing cross platform experience for its customers," it added.

Shares of Parkson closed unchanged at 70 sen today with 10.75 million shares traded, for a market capitalisation of RM741.71 million. Over the past one year, the counter has fallen more than 27%.

Posted by yucaihacai > 2017-02-21 23:19 | Report Abuse

是酱的啦。有人没买到低价，一直在呱呱吵…

Posted by Stanley Hong > 2017-02-21 23:33 | Report Abuse

Parkson still consider cheap lar.. last 2 yrs bought @1.0, keep till now..buy some last 2 month to average down the price

Posted by ivan9511 > 2017-02-21 23:36 | Report Abuse

Thecontra, good pick . impressive

Posted by newbb > 2017-02-21 23:42 | Report Abuse

so without the one off gain the loss is actually widen?

Posted by calvintaneng > 2017-02-22 00:21 | Report Abuse

A look at Parkson's Disposal of Beijing Shopping Complex.

According to Parkson's Properties listed in Parkson 2016 Annual Report are

11 Properties.

2 were in Beijing

1) Shopping Complex in Financial Street Beijing. Asset Value is Rm437.1 millions

2) Shopping Complex in Qi Sheng Middle Road, Beijing. Asset Value is Rm594.8 millions

The Shopping Complex Mentioned for Disposal is the one in Middle Road worth Rm594.8 million book value. According to TheEdgeDaily the assets were sold for Rm1.03 billions gross.

http://www.theedgemarkets.com/my/article/parkson-sell-interest-china-unit

So there is a gain of Rm435.2 millions gross or a gain of 73.1%

Since all Parkson assets are still at old book value if we just add 73.1% additional flat gain for all 11 assets it will be

RM3.006 billions x 73.1% = Rm5.204 billions

Minus Rm5.204 billions by Rm3.006 billions = Rm2.198 billions

YES! PARKSON Should just SELL OF ALL ASSETS and Get A Profit of Rm2.198 BILLIONS

THEN DIVIDE ALL THE CASH AND SHARE IT EQUALLY WITH ALL SHARE HOLDERS.

How much will each share holders get?

Or if Parkson should continue its operations IT SHOULD DRASTICALLY CHANGE ITS BUSINESS APPROACH TO F & B & ECOMMERCE!

At 70 cts Parkson with Valuable Assets of Rm2.38 OLD NTA is selling at a 70% Discount.

What if all the assets are marked to market value?

Its NTA of Rm2.30 x 1.731 = Rm4.11

YES IF PARKSON SHOULD REVALUE ITS NTA IT SHOULD BE RM4.11 (Revised NTA)

So at 70 cts Parkson is selling at a Whopping 83% Discount to NTA!

PARKSON Qualifies as a Graham Net Net Buy if we can overlook the fault of Parkson's poor management style.
22/02/2017 00:19

Posted by curious2 > 2017-02-22 02:49 | Report Abuse

Even after selling Beijing property Parkson revenue still above RM 1 billion a good sign.

Posted by curious2 > 2017-02-22 02:49 | Report Abuse

Even Padini cannot match Parkson in term of asset(NTA RM 2.38) despite selling at RM 2.72. EPS only 2 sen apart why share price RM 2.02 difference?

Posted by NeohSoonKean > 2017-02-22 08:08 | Report Abuse

People expect Parkson to report RM 300 million or EPS 30 sen from Beijing property disposal. Now only report EPS 6 sen meaning balance 24 sen to be recognized in 2017? Smart move by Parkson management when cash already received but profit recognized later so can delay income tax payment.

Posted by voon1900 > 2017-02-22 08:52 | Report Abuse

holland trip

Posted by John Lu > 2017-02-22 08:53 | Report Abuse

Sure holland

Posted by John Lu > 2017-02-22 08:56 | Report Abuse

If u want rank 173 or go holland...follow calvintaneng sochai will never goes wrong

Posted by calvintaneng > 2017-02-22 08:59 |

Post removed.Why?

Posted by NeohSoonKean > 2017-02-22 09:14 | Report Abuse

Add more 70.5 sen, still below cash per share.

Posted by clp72 > 2017-02-22 09:16 | Report Abuse

@ calvintaneng , you made a mistake in the calculations from the disposal as you failed to take into account the shareholders loan that was tagged to that property of rm 404 million, hence profit is only RM 31.2 million.


"The Shopping Complex Mentioned for Disposal is the one in Middle Road worth Rm594.8 million book value. According to TheEdgeDaily the assets were sold for Rm1.03 billions gross.

http://www.theedgemarkets.com/my/article/parkson-sell-interest-china-unit

So there is a gain of Rm435.2 millions gross or a gain of 73.1% "

Posted by NeohSoonKean > 2017-02-22 09:18 | Report Abuse

Icap bought at far higher price. Now Parkson so cheap why cannot buy? Or is it TTB a dumb man?

Posted by calvintaneng > 2017-02-22 09:19 | Report Abuse

Posted by clp72 > Feb 22, 2017 09:16 AM | Report Abuse

@ calvintaneng , you made a mistake in the calculations from the disposal as you failed to take into account the shareholders loan that was tagged to that property of rm 404 million, hence profit is only RM 31.2 million.


"The Shopping Complex Mentioned for Disposal is the one in Middle Road worth Rm594.8 million book value. According to TheEdgeDaily the assets were sold for Rm1.03 billions gross.

http://www.theedgemarkets.com/my/article/parkson-sell-interest-china-unit

So there is a gain of Rm435.2 millions gross or a gain of 73.1% "


Calvin replies:


Read again VERY CAREFULLY MY WORDS


gain of Rm435.2 millions gross


I said gain of Rm435.2 millions GROSS

I didn't say "NET"

You must see between GROSS & NET PROFITS OK?

Posted by calvintaneng > 2017-02-22 09:28 |

Post removed.Why?

Posted by speakup > 2017-02-22 09:50 | Report Abuse

TTB just waiting for opportunity to sell and breakeven.

Posted by speakup > 2017-02-22 09:53 | Report Abuse

BUY parkson coz no dividend declared.
If they declared dividend, then it's rated SELL. Parkson need to keep all the cash they got, and not give dividend. Parkson need to be kiam-sup (stingy). That's the only way they will survive

Posted by calvintaneng > 2017-02-22 09:54 | Report Abuse

ks55 Calvin -- Is it a buy or sell call at 70.5 sen?
If you already bought some (I believe so), are you going to buy more, hold or sell now?
22/02/2017 09:36

ks55

FOR PARKSON I CANNOT ISSUE BUY OR SELL CALL.

I JUST WANTED TO HIGHLIGHT ITS POSITION AS IT HAS DEEP VALUE WITH LOUSY MANAGEMENT.

THE ONLY WAY TO MAKE MONEY LONGER TERM FROM PARKSON IS TO BUY AND THEN GO TO AGM AND PRESSURE WILLIAM CHENG TO GET RID OF ALL THE PARKSON DEPARTMENT STORES TYPE OF BUSINESS WHICH IS FACING SUNSET DUE TO ECOMMERCE.

THIS IS QUITE STRESSFUL IF SHAREHOLDERS MUST GO AND COMPLAIN AGAINST STUBBORN MANAGEMENT

AS FOR ME I HAVE A VERY VERY TINY POSITION IN PARKSON.

SO I AM NOT REALLY INVESTING BUT MONITORING ONLY

LAST TIME IN YEAR 2006/7 I BOUGHT INTO OVER 130 COMPANIES.

SOME WITH ONLY 1,000 SHARES JUST BECAUSE I WANT TO RECEIVE A HARD COPY OF ANNUAL REPORT TO STUDY FIRST. AND PARKSON IS FOR CASE STUDY.

I THINK MUI BHD WHICH IS SIMILAR LIKE PARKSON WITH METROJAYA BUT WITH DEEP ASSETS WILL UNLOCK VALUE FIRST DUE TO DIVORCE SETTLEMENT

Posted by calvintaneng > 2017-02-22 10:07 | Report Abuse

Posted by ks55 > Feb 22, 2017 09:59 AM | Report Abuse

Meaning that you cannot form an opinion on Parkson at 70.5 sen?

Hard to believe you put up so lengthy analysis (much better than Public Invest Anal-list) and yet do not know what you actually want?

Sincerely speaking, is Parkson good buy at 70.5 sen?


If you follow Walter Schloss fully I think he might add Parkson into his hundreds of NET NET JUNK STOCKS.

BUT not for me right now.


Calvin wants to focus on sure stuff like GLC linked stocks being GE14 year. So I think DRB will be a much better buy than Parkson now.



I also told Hibiscus & ifca people to sell and buy PNE for safety.

Posted by calvintaneng > 2017-02-22 10:12 | Report Abuse

Posted by ks55 > Feb 22, 2017 10:08 AM | Report Abuse

After making so many chun-chun call, please give advice to me as I also bought some Parkson share after you gave the call.

Should I sell at 70.5 sen?
Should I hold for 10 years?
Should I buy more at 70.5 sen?

No worry, I still have plenty of money to buy..........


Haha,

IF YOU CAN ADD ALL OVERLOOKED STOCKS WITH DEEP VALUE IN A WELL DIVERSIFIED PORTFOLIO I THINK YOU WILL BE ANOTHER WALTER SCHLOSS.

WALTER SCHLOSS WAS CALLED "SUPER INVESTOR" BY WARREN BUFFET

I AM LOOKING FORWARD TO RECEIVE A HARD COPY OF PARKSON ANNUAL REPORT.

WILL STUDY MORE AND SEE.

Posted by John Lu > 2017-02-22 10:20 | Report Abuse

Holland stock...what is the next story? Pui...lousy management

Only sochai calvin can buy

Posted by yucaihacai > 2017-02-22 10:48 | Report Abuse

kenanga and public analyst already upgrade the target price for parkson. ks55, dun diam diam

Posted by yucaihacai > 2017-02-22 11:14 | Report Abuse

PRGL up so much today and yesterday. means not so bad as ur 想像

Posted by Stanley Hong > 2017-02-22 11:23 | Report Abuse

Pls don't up so fast, I want to collect more next months, this month i bought 11 Lots avg@0.675.. Now I only hold 2 stocks, Parkson and Vivocom.

Posted by luckycharm > 2017-02-22 12:31 | Report Abuse

collect collect ：）

Posted by younginvestor92 > 2017-02-22 12:50 | Report Abuse

lol lose more money still collect

Posted by lkoky > 2017-02-22 14:06 | Report Abuse

sold all yest @0.715
>10% return in one week, tq parkson.

Posted by contrarian > 2017-02-22 14:08 | Report Abuse

PRGL still moving up perhaps to HKD 2 by year end? Parkson should follow soon.

Posted by Stanley Hong > 2017-02-22 14:23 | Report Abuse

Parkson is Blue Chip Stock, with this level of price, consider very cheap. If one day management change, Parkson will fly high in the sky. I will continue collect next month. Airasia hutang billion of dollars also at this price, but Parkson no hutang at all. NTA still 2 ringgit and above. if the land Parkson own recalculate, NTA will be 3 ringgit and above

Posted by traderman > 2017-02-22 14:55 | Report Abuse

better sell, a sinking stock ... sink with calcin

Posted by xiaoxin22 > 2017-02-22 15:01 | Report Abuse

After Padini and Aeon, I believed next will be Parkson. wait and see this few days......... :)

Posted by traderman > 2017-02-22 15:02 | Report Abuse

you said like parkson is a newly form company

because of padini and aeon, parkson become a sinking ship

Posted by luckycharm > 2017-02-22 15:02 | Report Abuse

Everbody got different view... Some say sell some say buy.. some say hold ...anyway parkson i give u time to adjust.....my childhood shopping centre...haha

Posted by Good_News > 2017-02-22 20:57 | Report Abuse

Kenanga TP 88 sen.
http://klse.i3investor.com/servlets/ptres/39348.jsp

Posted by Good_News > 2017-02-22 20:58 | Report Abuse

Parkson Holdings - China Same Store Sales Recovering
Date: 22/02/2017

Source : KENANGA
Stock : PARKSON Price Target : 0.88 | Price Call : BUY
Last Price : 0.695 | Upside/Downside : +0.185 (26.62%)

1H17 core LATAMI widened to RM129.9m compared to the core loss of RM60.3m in 1H16. We consider the results to be within our expectation on a better 2H17 as China is showing positive signs of recovery with its first positive same-store-sales growth after recording negative growth over the past several quarters. Upgrade to OUTPERFORM from UNDERPERFORM. Our target price is raised from RM0.70 to RM0.88 as we impute higher target prices for both its listed operating units.

Result Highlights. QoQ, 2Q17 revenue rose strongly by 19%, thanks to its China operations recording its first positive quarterly same-store-sales growth (SSSG) (+1.4% vs. -7.3% in 1Q17) after declining for several quarters and Malaysia (+4.2% vs -6.6% in 1Q17). The positive growth from China and Malaysia more than offset the weaker performance in Vietnam (- 11.3 vs. -10.3% vs in 2Q17), Myanmar (-29.5% vs. -28.2% in 1Q17) and Indonesia (-11.3% vs. -13.1% in 1Q17). The weakness in Vietnam continued due to competitive pressure and the shutting down of nonperforming store. Indonesian operations were impacted by disturbances caused by demonstrations against the Governor of the capital city during the quarter. However, start-up losses and higher depreciations that were incurred for new stores, where sales are lower at the initial stage of operations, resulted in 2Q17 core net losses of RM67.3m (excluding one-off impairment losses on goodwill, property and receivables amounting to RM190m and stripping out gains from disposal of a subsidiary at approximately RM330m) compared to RM62.6m in 1Q17.

YTD, 1H17 revenue fell 2% mitigated by narrowing negative SSSG in China due to its transformational strategies undertaken, which are bearing fruits. SSSG rates across the board were mixed including Malaysia (-1% compared to 1H16 of -11%), Vietnam (-11% vs. -2% in 1H16), Indonesia (- 8% vs. +6% in 1H16). However, Parkson 1H17 losses widened to RM129.9m after stripping out: (i) gain from disposal of a subsidiary amounting to RM330m, and (ii) impairment loss on intangible assets and receivable (RM190m) compared to a loss of RM60.3m in 1H16 and start-up losses at some stores in China.

Outlook. The Group is focused on delivering its transformational strategies closely aligning with the evolving retail markets, which include: (i) enriching its retail format and expanding its product and services offerings, (ii) optimising store effectiveness and efficiency, and (iii) enhancing cross platform experience for its customers. Specifically, the first Parkson Newcore Citymall was officially opened in January 2016 in Shanghai, which offers value for money products in a vibrant, energetic and innovative shopping environment. Sales of this Korean-themed outlet increased visibly in 2016 compared to the year before. Building on the success of this Korean-themed outlet and the joint venture with E•Land Group, the Group is targeting to open a second Parkson Newcore Citymall in Nanchang during 1H 2017. In June 2016, the Group achieved a milestone with the grand opening of the 230,000 sqm Qingdao Lion Mall, signifying the Group’s move into the shopping mall segment in China.

Our target price is raised from RM0.70 to RM0.88 as we impute higher target prices for both its listed operating units (Hong Kong-listed Parkson Retail Group Limited and Singapore-listed Parkson Retail Asia Limited) on the back of a better trading sentiment. Upgrade to OUTPERFORM from UNDERPERFORM.

Source: Kenanga Research - 22 Feb 2017

Posted by yucaihacai > 2017-02-22 22:01 | Report Abuse

i am ready to buy 62.5 sen.
ks55 big talk, you slow slow wait till 50 sen of your TP lah