DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : DEALINGS OUTSIDE CLOSED PERIOD Amended Announcements Please refer to the earlier announcement reference number: GA1-30112018-00049
PARKSON HOLDINGS BERHAD
Type Announcement Subject DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) DEALINGS OUTSIDE CLOSED PERIOD Description Dealings in Securities by a Principal Officer outside Closed Period Pursuant to Chapter 14 of the Bursa Malaysia Securities Berhad Main Market Listing Requirements, the following principal officer of the Company has dealt in the securities of the Company as set out in Table 1 hereunder.
Table 1 Name of Principal Officer Date of Dealings Consideration per Share (RM) Number of Shares Bought % of Shares* Tan Sri Cheng Yong Kim 27 November 2018 0.2798 106,000 0.01 28 November 2018 0.2850 211,000 0.02 29 November 2018 0.2850 382,000 0.04 30 November 2018 0.2886 301,000 0.03 * Based on the total number of issued shares of Parkson Holdings Berhad ("PHB") excluding a total of 26,721,880 ordinary shares in PHB bought back by PHB and retained as treasury shares as at 30 November 2018. http://www.bursamalaysia.com/market/listed-companies/company-announcements/5993229
Parkson like any other retailers are facing stiff competition not only from other physical store retailers but also online platforms like Lazada, Alibaba, Shoppee to name a few.
The only bright spot of the company in 1Q19 was the Chinese venture which posted an EBIT profit of RM9.7 mil The company other ventures (Malaysia, Vietnam, Myanmar and Indonesia) posted a combine EBIT loss of -RM38.7mil .
I just don't see the company recording a profit in 2Q19 due to the still high losses of south east asia business ventures. Malaysia for example had managed to increase it's sales by 7% due to the tax holiday period but it still makes RM18.4mil losses. Inclusive of the quarterly net finance cost of RM15mil (after deducting interest income), expecting the company to turn profitable next quarter might be a very tall order.
Those that are invested in the company will need to put their hopes on higher profit growth from the China business. But i still think this will need time and a lot more stores opening for China to compensate the losses from other ventures. Actually it would make more sense to investors if management closes all the stores outside China.
If you decide to diversify your position outside of the retail industry due to current challenging environment (Padini and Bonia for example also delivered disappointing results last quarter), I would recommend you to look at MBMR.
The company is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 5.3x PE (based on target FY18 PATAMI of RM145mil. 9m PATAMI is already RM106mil). PB is low at only 0.5x BV. 4Q18 results is expected to be higher than 3Q18 and last year 4Q17. And FY19 growth will be driven by the still high demand of new Myvi and the launch of the new SUV in 1Q19.
Hope Parkson Holding can proof me wrong and deliver the profit growth that the investors are hoping for. Management need to start to deliver on their turnaround plan.
Even Parkson seller q at 29 sen very little. yucaihacai you sold at 29 sen managed to buy back 28.5 today? Don't hope lower. Cheng Yong Kim q will block you haha.
Sold 0.285-0.29 this morning. Bought back 0.275-0.28. kosong 55 and diehards joetay pls sell me more 0.275 and below. and welcome Cheng Yong Kim shark block all the price at 0.28-0.29. and it is better if push to 0.300 and above.
You are definitely right, ChengYK, then you will realise your capital invested in Parkson will be getting smaller & smaller, finally cry also no tear.
I saw many people said the same thing like what you said since the price was 4, those people finally had disappeared from i3, probably from stock market now.
used to be rm 5.00 back in 2010 now 0.265 minority shareholders mati just like guh , geshen mlab tekseng , hhgruop, evergreen , all con man counter...............
but yucaihacai, u been buying since 90sens and been holding.
with ur volume, u must be within the top 30 by now.
so how much have u lost in parkson????
lol..........
Posted by yucaihacai > Dec 6, 2018 06:26 PM | Report Abuse
Sold 0.285-0.29 this morning. Bought back 0.275-0.28. kosong 55 and diehards joetay pls sell me more 0.275 and below. and welcome Cheng Yong Kim shark block all the price at 0.28-0.29. and it is better if push to 0.300 and above.
If I'm WC, I will take Parkson private. This is a great opportunity at this highly oversold price relative to it's assets, brand and positive operating cash flow. The prices in Malaysia and HK is way below it's asset value. Relist it later after restructuring, cheers.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
kennean
87 posts
Posted by kennean > 2018-12-03 15:27 | Report Abuse
Remimbi strong, parkson exchange gain. 28 Sep 18 closing was 6.87.
Now 6.895, break this level, financial result will turn green.