Posted by limch > 2017-08-10 09:37 | Report Abuse

Royce you sound fearful so you sold at 54 sen? I add more. I don't see WC selling.

Posted by limch > 2017-08-10 09:46 | Report Abuse

Royce I read your post in AAX. I ask you same question why you post here like what you ask in AAX.

Posted by limch > 2017-08-10 09:46 | Report Abuse

Don't waste your time here!
https://klse.i3investor.com/servlets/cube/post/10154457219769146.jsp

Posted by Lion88 > 2017-08-10 12:12 | Report Abuse

Hi Limch,

Why is PRA and PRG declining today?

Any chance of revival?

Have been waiting for years.

Thank you.

Posted by kelvin62 > 2017-08-10 15:21 | Report Abuse

Only possibility is Affin short Parkson. Public Bank still give TP 75 sen. No wonder Affin share drop a lot(among bank stocks)cutting loss here. PBB still abv RM 20 solidly even weak mkt so not they short Parkson.

Posted by Royce Chan > 2017-08-10 15:26 | Report Abuse

limch Why you said I'm fearful? And how you know I have Parkson share or not? And Y u need many IDs like what Ks55 said? Are you fearful of revealing your identity or your losses or both?
And Y you failed to answer what other ppl asked you?

I do agree with Ks55 comments as his views are justified and factual. Just like what Radzi and I did for AAX. Anyone can comment on our views but must be justified. You're welcome to do that provided it's justified with facts and figures. If yours is merely to air your emotion or expression then this is not the right thing to do here.

Am sure others do agree to that for the benefits of everyone in this forum and share useful info. Think Ks55 does agree to that as well!

Posted by Royce Chan > 2017-08-10 15:30 | Report Abuse

And since you said you bought more at 0.54..... wish you good luck for a quick rebound if posiible or else you'd listen to Ks55 advice for 25/8!

911!

Posted by newbie_2017 > 2017-08-10 15:38 | Report Abuse

So Affin shareholders be careful. Their IB staffs can short any counters without thinking bank make money or loss.

Posted by Royce Chan > 2017-08-10 15:48 | Report Abuse

Today PHB new low 0.535, PRG week low 1.20, PRA revisit low 0.09!

Think Ks55 assumption seems to be more and more realistic!

Posted by Lion88 > 2017-08-10 17:02 | Report Abuse

God Bless Parkson for a better Friday !!!

Posted by Royce Chan > 2017-08-10 20:07 | Report Abuse

http://sgx.i3investor.com/servlets/anpth/293333.jsp

PRA Q4 result to be released on 23/8!

Posted by Lion88 > 2017-08-11 11:17 | Report Abuse

Hi Ks55 and Joetay,

What is happening to PHB, PRG and PRA prices?

Cannot believe that the management is not doing anything to support the price?

We will require their support and recovery plan.

Where are they when the investors require them most?

Please react.

Thank you.

Posted by Lion88 > 2017-08-11 11:26 | Report Abuse

The reaction is for the management.

Posted by Lion88 > 2017-08-11 11:42 | Report Abuse

Hi Ks55, your analysis have been impressive.

Regretted to leave out all your advice earlier.
The lessons learnt are too costly.

You seem to know the way Parkson have been operated over the years.

I have been writing to them and they have not given any concrete recovery plans and price just decline with no return.

Those ways that they are treating loyal investors are beyond word of sadness.

Wish them success.

Parkson has to remember that those money invested are hard earned sweat money.

Posted by kelvin62 > 2017-08-11 12:14 | Report Abuse

Might be WC want to privatise Parkson cheap-cheap.

Posted by Lion88 > Aug 11, 2017 11:42 AM | Report Abuse

Hi Ks55, your analysis have been impressive.

Regretted to leave out all your advice earlier.
The lessons learnt are too costly.

You seem to know the way Parkson have been operated over the years.

I have been writing to them and they have not given any concrete recovery plans and price just decline with no return.

Those ways that they are treating loyal investors are beyond word of sadness.

Wish them success.

Parkson has to remember that those money invested are hard earned sweat money.

Posted by Royce Chan > 2017-08-11 12:15 | Report Abuse

Guys, actually if you analyse all the 3 cos, 2 are loss making and 1 slightly breakeven. PRG and PHB no doubt having high NTA but EPS is - for PHB and breakeven for PRG. They're not property counters hence high asset values don't really influence the share price. Whereas PRA is bleeding badly due to massive regional expansion investment and heavy loss making outlets. Shareholders funds are currently below paid up capital due to high accumulated losses which is alarming with high gearing due to heavy borrowing to fund regional retail expansion plan. Hence, there'd be some negative development in PHB that keeps the price drifting otherwise would have rebounded in tandem with the strong rebound in PRG and PRA before sliding back in these 2 weeks. Essentially, PHB needs consistent + and solid earnings to commence a turnaround. Otherwise the current direction may still prolong. PHB is fortunate to rake in some cash from PRG''s disposal of a major mall in China which helped strengthen their respective cash flow and reserves. Otherwise they will have liquidity issues again. So when the 3 companies start to make profits is when there's light at the end of the tunnel!

Posted by Lion88 > 2017-08-11 13:46 | Report Abuse

Hi Royce,

Are there any cross relationship between LionInd and PHD share price?

Thank you.

Posted by Royce Chan > 2017-08-11 14:29 | Report Abuse

I'm not sure as I never looked into that yet. I think there's no direct link except WC controlling both plc separately now. So need to check the AR or latest update to confirm.

Posted by Royce Chan > 2017-08-11 14:41 | Report Abuse

Ks55 view of PHB going for a kitchen sinking exercise in Q4 can be a possible reason for PHB's share slide instead of rebounding after Q3. WC may want to tidy up the balance sheet going into the new FY18.

Posted by kelvin62 > 2017-08-11 14:50 | Report Abuse

Why you still here? Slide bec Q3 is red . Q4 not yet released so don't speculate. PRGL YTD still big up thanks to big gain property disposal. Because of bully here and Bursa casino status Parkson drop.

Posted by Royce Chan > Aug 11, 2017 02:41 PM | Report Abuse
Ks55 view of PHB going for a kitchen sinking exercise in Q4 can be a possible reason for PHB's share slide instead of rebounding after Q3. WC may want to tidy up the balance sheet going into the new FY18.

Posted by lion188 > 2017-08-11 14:56 | Report Abuse

lion88 do you feel surprise why we cannot see WC disposal announcement if coming QR is poor? Then who is selling behind Parkson drop?

Posted by lion188 > 2017-08-11 15:10 | Report Abuse

PRGL YTD RETURN 41.18%. Parkson up how many %?
https://www.bloomberg.com/quote/3368:HK

Posted by Royce Chan > 2017-08-11 15:57 | Report Abuse

kelvin62 Appreciate your comment with your reasons stated. Agree that you said the slide bcoz Q3 is red. Well how did Q3 loss affect the slide and the slide still continues now?

Also agree that PRG up a lot due to big property disposal gain. So what's the mkt cap of PRG based on today''s price and based on PHB ownership in PRG how much should that stand in PHB? The same for PRA as of today's price, what's the value contributing to PHB in MYR?

And you said because of bully here and Bursa casino status Parkson drop. Can you pls explain further how that happened and you have any proof to support you allegation?

Pls explain in detail.

Posted by Royce Chan > 2017-08-11 19:17 | Report Abuse

Lion88 Pls don't be despaired yet. There'll be some rebounds for your consideration. The coming direction is only known when Q4 is released. You may now start making your accessment and decision for action to be taken pending on the outcome of Q4. At the same time look at the bright side as there are many good stocks in the market. Importantly those stocks must not be loss making to fit into your investment criteria and portfolio.

Don't feel sad. Market is alive always. There are good stocks all the time regardless of bullish or bearish market.

Posted by Beginner1 > 2017-08-11 19:58 | Report Abuse

Royce Chan, I did some calculation as below:-
PRGL market cap HKD 3.35 bil = RM 1.84 bil
Parkson Holdings share in PRGL = 54.67% = 1.006 bil
Parkson Holdings No. of share = 1.094 bil
Parkson Holdings share price due to PRGL ONLY = RM0.92

Did I do any calculation mistake?

Posted by Beginner1 > 2017-08-11 19:58 | Report Abuse

You can calculate for PRA using same concept

Posted by joetay > 2017-08-11 22:27 | Report Abuse

those buy at 54-56 really r caught this time round.

better stay safe and away from lion-related counters.

Posted by Royce Chan > 2017-08-12 01:35 | Report Abuse

@Beginner1

Based on today closing:
PRG market cap @ HKD 1.18 P/U 2.635 B shares = HKD 3.109 B - RM 1.71 B @ RM 0.55
PRA market cap @ SGD 0.09 P/U 637.8 M shares = SGD 60.642 M - RM 191.63 M @ RM 3.16

PHB market cap @ RM 0.535 P/U 1.067 B shares - RM 570.96 M

PHG effective interest based on 2016 AP in
PRG - 54.66% X RM 1.71 B = RM 934.69 M
PRA - 67.96% X RM 191.63 M = RM 130.23 M

Total market cap:
PRG + PRA = RM 1.065 B @ RM 0.998*

PHB = RM 570.96 M @ RM 0.535

Base on PHB effective interest in PRG and PRA the market cap (PRG + PRA) as of 11/8/17 is RM 1.065 B or RM 0.998 before other non listed investments in PHB.

However, PHB closed at RM 0.535 with a market cap of RM 570.96 M!

Posted by Beginner1 > 2017-08-12 08:13 | Report Abuse

Nice calculation Royce.
Unless someone else can come out with other calculation method with different result, I think this calculation is correct.
I'm wondering why PHB share price is half than what it should be based on PRG & PRA share price.
Maybe that is what kelvin62 meant by "bully" & "Bursa Casino"

Posted by Royce Chan > 2017-08-12 09:44 | Report Abuse

Actually there are various methods of calculation depending on the respective industry. PER, RNAV, SOP, EBITA, PBV, etc....are some of the common approaches applied by IBs to set TP. Again the typical method is dependent on the respective industry and the peers.

Posted by Royce Chan > 2017-08-12 10:22 | Report Abuse

@Beginner1 Don't assume for kelvin62 on his 'bully & Bursa Casino' claim. Let him provide his explanation in detail to validate his allegation to address us. Am sure many of us would like to know such a serious matter since many followers in this forum are interested parties with shares in Parkson.

Posted by Beginner1 > 2017-08-12 11:56 | Report Abuse

Royce Chan: Being a beginner, I'm not quite familiar with the terms you mentioned... looks like I need to study/google more. Anyway, thanks for your comment.

Posted by Air_Asia > 2017-08-13 12:55 | Report Abuse

Those who believe ks55 can be trusted pls see his post in AirAsia as proof.

Stock: [AIRASIA]: AIRASIA BHD
Jul 10, 2015 08:22 PM | Report Abuse

Air Asia deemed to be a growth stock.
What is common in all growth stocks?
Growth spurred by borrowing.
If anything go wrong, just say bye-bye and go to PN4......
http://klse.i3investor.com/servlets/cube/post/ks55.jsp?fp=6

Posted by Air_Asia > 2017-08-13 12:56 | Report Abuse

500 K Plenitude can become top 30 shareholder. Is your name there?

Posted by Air_Asia > 2017-08-13 13:15 | Report Abuse

Idiot don't waste time. Simple question why cannot answer?

Posted by Air_Asia > Aug 13, 2017 12:56 PM | Report Abuse X
500 K Plenitude can become top 30 shareholder. Is your name there?

Posted by Air_Asia > 2017-08-13 13:26 | Report Abuse

SEA Games gives tourism a big push
Read more at http://www.thestar.com.my/news/nation/2017/08/13/sea-games-gives-tourism-a-big-push-brisk-business-for-hotels-with-security-in-place-and/#R6b7eW5xGdCoccsl.99

Posted by nikicheong > 2017-08-13 22:11 | Report Abuse

Royce, your calculations are correct. However, NO ONE will ascribe the full value of the sum of parts to the holding company. As such, there is often a penalty of 30-40% called "holding company discount".

Also don't forget, above and beyond that Parkson Holdings Bhd has got its own core properties and businesses such as Parkson Credit.

Posted by nikicheong > 2017-08-13 22:12 | Report Abuse

By the way guys, I often monitor the Parkson China website to see if they have made changes. And today finally I see that the Parkson China website has changed!

Can somebody please translate whats going on? What do the things on the website say? Is there a new app launched? This could be positive development going forward.

http://parkson.com.cn/

Posted by Royce Chan > 2017-08-14 10:01 | Report Abuse

nikicheong Agree with you that's why I didn't affirm that value from the calculation as the current price if you read clearly. That market cap calculation is a mere direct analysis and assesment on the variation between PHB and the 2 subsidiaries. That allows us to know currently how far vales deviate from the assessment based on the available data. And importantly that highlights how a company is affected by - earning vs. asset value! And also to highlight why the price slide continues post Q3 result.

Also the discount factor you suggested may not imply indefinitely. Usually stock moves ahead of announcement which triggers speculation.

Posted by nikicheong > 2017-08-14 22:06 | Report Abuse

PRGL results out this Friday, i.e. 18 August 2017. Judgement day awaits!

I will decide to cut loss if I deem the company to be unsaveable. But if there is any glimmer of hope, I shall continue holding.

Posted by yucaihacai > 2017-08-15 10:18 | Report Abuse

Parkson will strongly rebound soon. PRA tonight will got announcement, PRGL thursday will got anouncement. Buy now before it surge to peak.

Posted by pakatan_harapan2 > 2017-08-15 11:37 | Report Abuse

Pakatan=nothing to hide. BN=everything must hide?

Posted by Royce Chan > 2017-08-15 15:51 | Report Abuse

Lion88 Yes PRA is flashing a negative signal. Be cautious as that is indicative of the pending Q2 result.

Posted by Royce Chan > 2017-08-15 15:53 | Report Abuse

Sorry error. Should be Q4.

Posted by newbie5354 > 2017-08-15 16:27 | Report Abuse

PRGL is the 1 Parkson own more. PRA only listed in 2011.

Posted by newbie5354 > 2017-08-15 16:31 | Report Abuse

Lion88 can you answer why previously PRA want to be sold to PRGL not the other way round if you think PRA is the bigger Parkson?

Posted by Royce Chan > 2017-08-15 16:39 | Report Abuse

Lion88 If you read my comments previously which touched on earnings and market cap for the Parkson Group you will understand why their shares variance is so excessive and what's actually driving PHB share down. One of the possible reasons can be similar to Ks55 view that's becoming very likely. This is no speculation as many may view but seems very likely. As far balance sheet is concerned PHB and PRG are still sound but not for PRA! High gearing and depleting reserves may warrant PRA to go for restructuring and recapitalisation!

Posted by newbie5354 > 2017-08-15 16:58 | Report Abuse

Lion88 1 more question for you. Why you only appear in Parkson thread? Are you too poor to buy any counter other than Parkson?

Posted by Royce Chan > 2017-08-15 18:25 | Report Abuse

Yes your instinct is wrong Lion88. They're irrelevant. Parkson will turn around if it can start reporting consistent profits or there's a major strategic group development that will boost the Group profitability and business direction ahead. Otherwise current situation may prevail.

Posted by Lion88 > 2017-08-15 19:50 | Report Abuse

http://www.businesstimes.com.sg/companies-markets/parkson-retail-asia-issues-profit-guidance-for-fy2017