Posted by 5354_ > 2020-06-03 21:05 | Report Abuse

I3 rubbish forum?

Posted by 5354_ > 2020-06-03 21:08 | Report Abuse

PRA up >100% nobody aware?
https://sginvestors.io/sgx/stock/o9e-parkson-retail/company-announcement

Posted by Leesk > 2020-06-04 13:08 | Report Abuse

please distribute PGRL in kind to parkson shareholders. This would have some spark corporate exercise on the share price during these period

Posted by kelvin61 > 2020-06-05 13:46 | Report Abuse

At current liquidation price of less 10 sen, any small increase of the price would equate a very high percentage gain. Don't miss out as Parkson should be able to ride out the storm with WC micro managing the operations as CEO, cheers.

Posted by Valueinvestor_007 > 2020-06-06 11:48 | Report Abuse

https://youtu.be/lIsc9pmAsnU

Buy in MMC Corp after sold Parkson

Posted by yucaihacai > 2020-06-08 09:37 | Report Abuse

PRA Today continue fly to 0.024 since low at 0.003 on March. its already up 800% !

Posted by 5354_ > 2020-06-10 09:21 | Report Abuse

LionInd news no concern Parkson?

Posted by KOREANby > 2020-06-10 09:57 | Report Abuse

百盛在新加坡和香港拥有的股票总值起过三亿马币，不知百盛大马会不会被私有化???

Posted by kasinathan > 2020-06-10 12:08 | Report Abuse

If you buy Parkson from Singapore stock exchange, it only cost you Rm 6.6 cents..
34% cheaper than bursa at 10 cents

Posted by kasinathan > 2020-06-10 12:09 | Report Abuse

Definitely coming down

Posted by Green88 > 2020-06-10 12:18 | Report Abuse

Green nice colour.

Posted by KOREANby > 2020-06-10 18:01 | Report Abuse

Parkson hong kong up 7%

Posted by KOREANby > 2020-06-10 18:06 | Report Abuse

What has been somewhat of a “saving grace” for Parkson Holdings are its stores in China, which are parked under Hong Kong-listed Parkson Retail Group Ltd (PRG). The 54.97%-owned subsidiary of Parkson Holdings is undoubtedly the group’s star performer, with 44 stores in 30 major cities across China.

Posted by KOREANby > 2020-06-10 18:10 | Report Abuse

This was based on a statement issued by PRA, a 67.96% owned subsidiary of Parkson Holdings.

Posted by KOREANby > 2020-06-10 18:12 | Report Abuse

Parkson hk + parkson singapore > rm300million, parkson malaysia's market value only rm110million, LELONG!!!!!

Posted by KOREANby > 2020-06-10 18:12 | Report Abuse

Parkson no cash flow problem, so must buy!!!

Posted by KOREANby > 2020-06-10 18:26 | Report Abuse

百盛在香港没有门市，中国的门市在香港上市。

Posted by Good123 > 2020-06-11 07:42 | Report Abuse

would parkson be bankrupted if they lose this legal case? 

KUALA LUMPUR: Shares of Parkson Holdings Bhdfell over 8% in early trade Tuesday over a lease dispute.

The retailer fell 8.7%, or one sen to 10.5 sen with 1.22 million shares traded.

Singapore-listed Parkson Retail Asia Ltd's (PRA) Cambodian unit has been ordered to pay US$144.50mil as damages to Hassan (Cambodia) Development Co., Ltd as rental fee over the whole period of the lease under the agreement.

The unit, Parkson (Cambodia) Co. Ltd’s security deposit and all advanced rental payments paid to Hassan (Cambodia) amounting to US$4.48mil will also be forfeited.

This was based on a statement issued by PRA, a 67.96% owned subsidiary of Parkson Holdings.

The Phnom Penh Court granted judgement against Parkson Cambodia and ordered the forfeit and payment of damages.

PRA had in November 2018 and October 2019 announced that it had issued a notice of arbitration to Hassan (Cambodia) under the Singapore International Arbitration Centre (SIAC) over the lease.

Parkson Cambodia is currently seeking advice from its Cambodian lawyers whether to petition to set aside the judgement, to appeal to the Cambodian Appellate Court or if other forms of recourse are available.

Posted by Good123 > 2020-06-11 07:43 | Report Abuse

https://www.klsescreener.com/v2/news/view/670177

Posted by KOREANby > 2020-06-11 07:50 | Report Abuse

Seperate legal entity

Posted by Good123 > 2020-06-11 07:52 | Report Abuse

a subsidiary of parkson malaysia

Posted by Good123 > 2020-06-11 07:53 | Report Abuse

that's why when this case was announced, parkson malaysia share price tumbled as reported

Posted by Good123 > 2020-06-11 07:53 | Report Abuse

this legal case added risk to parkson

Posted by Good123 > 2020-06-11 07:54 | Report Abuse

OTHERS Announcement by Parkson Retail Asia Limited - Update on Litigation in Cambodia

PARKSON HOLDINGS BERHAD
TypeAnnouncementSubjectOTHERS
DescriptionAnnouncement by Parkson Retail Asia Limited - Update on Litigation in Cambodia

Reference is made to the announcements made by Parkson Holdings Berhad (“PHB” or the “Company”) on 15 November 2018 and 29 October 2019 in relation to the announcements made to the Singapore Exchange Securities Trading Limited (“SGX-ST”) by Parkson Retail Asia Limited (“PRA”), a 67.96% owned subsidiary of the Company listed on the SGX-ST, in respect of the issuance of Notice of Arbitration to Hassan (Cambodia) Development Co., Ltd. (“Lessor”) and the update on the litigation in relation thereto (“Announcements”).  Unless otherwise stated, the terms used throughout this announcement shall have the same meaning as defined in the Announcements. PRA had on 27 April 2020, announced that in its Unaudited Financial Statements for the Fourth Quarter and Twelve Months ended 30 June 2019 released on 27 August 2019, it had mentioned that despite the disputes between Parkson (Cambodia) Co., Ltd (“PCCO”) (a wholly-owned subsidiary of PRA) and the Lessor in relation to the Lease Agreement being pending arbitration under the Singapore International Arbitration Centre (“SIAC Arbitration”) in Singapore, the Lessor had on 12 December 2018 filed a petition (“Case No. 2577”) in the Phnom Penh Municipal Court of First Instance (“Phnom Penh Court”). On 22 April 2020, the Phnom Penh Court granted judgement against PCCO in Case No. 2577 (“Judgement”) to, inter alia: 1. forfeit the security deposit and all advanced rental payments paid by PCCO to the Lessor amounting to USD4,488,750; and 2. order PCCO to pay damages of USD144,504,960 to the Lessor, being the rental fee for the whole period of the lease under the Lease Agreement. Prior to the Judgement, PCCO had filed an appeal motion to the Cambodian Appellate Court to transfer the jurisdiction of the Phnom Penh Court to hear Case No. 2577 to SIAC Arbitration jurisdiction. The appeal motion is currently pending in the Cambodian Appellate Court. PCCO is seeking advice from its Cambodian lawyers whether to petition to set aside the Judgement, to appeal to the Cambodian Appellate Court or if other forms of recourse are available. The Judgement is only applicable against PCCO and does not extend to PRA, PRA’s other subsidiaries nor its holding companies. The PRA Group’s maximum potential exposure resulting from the Judgement will therefore be limited to its capital contribution in PCCO which had been fully provided for in the audited financial statements of PRA for the financial year ended 30 June 2017. As stated in PRA’s announcement dated 15 November 2018, the PRA Group had in its audited financial statements for the financial years ended 30 June 2016, 2017 and 2018 recognised the impairment losses in connection with, inter alia, the full amounts of prepaid rental, rental deposit and property, plant and equipment in respect of the Cambodia Store. Accordingly, the Judgement, even if not successfully reversed or appealed against by PCCO, is not expected to have a material impact on the earnings per share and the net tangible assets per share of the PRA Group for the financial year ending 30 June 2020. PRA will make further announcements as and when there are material developments on the above matter. The Judgement does not have a material impact on the earnings of the PHB Group for the financial year ending 30 June 2020 and the net assets of the PHB Group based on the audited consolidated statement of financial position of the Company as at 30 June 2019.



Please refer attachment below.

Attachments

PRA-Announcement.pdf
54.4 kB


Announcement Info

Company NamePARKSON HOLDINGS BERHADStock NamePARKSONDate Announced27 Apr 2020CategoryGeneral Announcement for PLCReference NumberGA1-24042020-00082

Posted by KOREANby > 2020-06-11 07:56 | Report Abuse

In its filing today, Parkson said the judgement is only applicable against PCCO, and does not extend to PRA. PRA's maximum potential exposure from the judgment will therefore be limited to its capital contribution in PCCO, which it had fully provided for in its audited financial statements for the financial year ended June 30, 2017.

"As stated in PRA’s announcement dated Nov 15, 2018, the PRA Group had in its audited financial statements for the financial years ended June 30, 2016, 2017 and 2018 recognised the impairment losses in connection with, inter alia, the full amounts of prepaid rental, rental deposit and property, plant and equipment in respect of the Cambodia Store. Accordingly, the judgement, even if not successfully reversed or appealed against by PCCO, is not expected to have a material impact on the earnings per share and the net tangible assets per share of the PRA Group for the financial year ending June 30, 2020," Parkson added.

Parkson further said the judgment does not have a material impact on its earnings for the financial year ending June 30, 2020 and its net assets, based on the audited consolidated statement of the company's financial position as at June 30, 2019.

Posted by KOREANby > 2020-06-11 07:58 | Report Abuse

Seperate legal entity

Posted by Good123 > 2020-06-11 08:03 | Report Abuse

a subsidiary of parkson malaysia. read the announcement by parkson malaysia above

Posted by Good123 > 2020-06-11 08:03 | Report Abuse

that's why parkson announced to Bursa Malaysia. u think for fun Ka?

Posted by Good123 > 2020-06-11 10:46 | Report Abuse

biz inside mall, affected badly. 

Out of 100 retailers, including those in Sabah and Sarawak, Retail Groups MD Tan Hai Hsin is expecting “not more than 10%” of mall tenants to close versus “closures as high as 30%” for those located outside malls.

PETALING JAYA: Even as Malaysia moves into recovery mode with more businesses allowed to operate under the movement control order (MCO) period, retail stores had already started to close three to four weeks ago, Retail Group Malaysia said.

Out of 100 retailers, including those in Sabah and Sarawak, its managing director Tan Hai Hsin is expecting “not more than 10%” of mall tenants to close versus “closures as high as 30%” for those located outside malls.

Tan, who is also managing director of Henry Butcher Retail, said there were more retailers located outside mall settings than within.

Henry Butcher is a retail property consultancy, while Retail Group Malaysia is an independent research consultancy.

Since March 18, when the MCO was implemented, there have been reports that as many as 51,000 retail stores out of a total supply of 325,000 will be closing. He is sticking to that figure.

“We can expect about 15% of the total retail supply, or at least 51,000 stores, to close down in Malaysia within the next five to seven months.

“This crisis will lead to the survival of the fittest, ” Tan said.

Under the present recovery mode, Tan said “malls and commercial centres will benefit as more of them are allowed to open”.

“Consumers will adjust to this ‘new normal’ or new lifestyle. Inconvenient (as it may be), they will bear with it. This is evident from the crowds at Mid Valley Mega Mall, Sunway Pyramid in Bandar Sunway, One Utama Mall in Petaling Jaya and IKEA Cheras during the last one to two weeks.

“Malls and commercial centres will benefit when more businesses are allowed to open, ” he said.

As with everything, there will be winners and losers. Already, some had started to close during the second and third weeks of May, Tan said.

He said there are more “for sale” or “for lease” banners found in many shop offices and commercial centres throughout the country. “Many of these retailers are also looking for buyers for their retail businesses, ” Tan said.

Dividing retailers operating inside and outside of malls, Tan said the majority of tenants in shopping centres in Malaysia were national chain retailers and established retail operators.

“They have more resources to ride through the crisis. In addition, they also have more bargaining power with the landlords compared to those located in shop offices, commercial centres and commercial buildings, ” he said.

For retailers located outside of malls, most of them are located in shop offices, commercial centres and commercial buildings. These are the small-scale independent retailers and they are one of the most affected businesses during this crisis, he said.

Tan said these individual shop owners are “most likely to be cash-strapped” due to this period.

“We expect many of them to close down in the next three months. Many of them have shut down their stores during the last few weeks, ” Tan said.

The off-shoot of closures among non-mall retail stores is that as more operators and owners throw in the towel, this will affect shop rentals, which are already under pressure due to the excess supply.

According to the National Property Information Centre (Napic), as at the first quarter of 2020, the number of unsold completed shops in the country had risen to 6,042 units at a value of RM4.87bil, up from 5,472 units or RM4.50bil a year ago.

These shops, according to Napic, may range from one to 5½ storeys high. They may be semi-detached, detached or stratified units.

There was a time about a decade or so ago when shop investments were a much sought-after investment, especially corner lots because banks, coffee shops and some fast-food chains had a preference for them.

Be it corner or intermediate lots, being business operators or part of a larger chain, they committed to leases which were of a longer duration than housing tenants.

But the pandemic has laid bare the many weaknesses in the different segments of the property market.

As more non-mall retail stores are shuttered, this will add to the vacancies, even as more unsold completed shops enter the market.

Posted by Good123 > 2020-06-11 12:17 | Report Abuse

parkson is very backward, don't even have website to sell online, not in the marketplace like Lazada, etc

Posted by Good123 > 2020-06-11 12:18 | Report Abuse

Mr DIY is smart, not many items on Lazada, etc but to lead people to its own website to sell or offline shops

Posted by Good123 > 2020-06-11 12:20 | Report Abuse

unless parkson is able to change or revamp its IT strategy for biz, quite hopeless in Malaysia. no grocery dept unlike aeon at most of its stores

Posted by Good123 > 2020-06-11 12:22 | Report Abuse

if continue with its outdated offline stores with grocery dept only, continue to burn money in Malaysia. better close all in msia , just focus on China. :)

Posted by Good123 > 2020-06-11 12:23 | Report Abuse

omnipresence is key in retailinh today

Posted by Good123 > 2020-06-11 12:23 | Report Abuse

to me, in msia, better than metrojaya , worse than aeon

Posted by Good123 > 2020-06-11 12:24 | Report Abuse

aeon is present in Lazada, etc plus grocery dept. still ciplak without website to sell directly

Posted by Good123 > 2020-06-11 12:25 | Report Abuse

parkson is facing great challenge here. jobless rate is rising, etc too

Posted by Good123 > 2020-06-11 12:26 | Report Abuse

disposable income of the people falls sharply

Posted by Good123 > 2020-06-11 13:56 | Report Abuse

parkson baru mau buat online, bukan? :). KUALA LUMPUR (June 11): Malaysia's sales value of wholesale and retail trade plunged 36.6% year-on-year (y-o-y) in April 2020, which was the biggest decline in history after recording a decrease of 5.7% in March 2020, according to the Department of Statistics Malaysia.

Chief statistician of Malaysia Datuk Seri Dr Mohd Uzir Mahidin further said that in the normal business environment, it is estimated that the sales of wholesale and retail trade fell RM45 billion in April 2020.

"The steepest fall was recorded by motor vehicles which plummeted -93.2%, mostly due to precipitous drop in sales of motor vehicles of -93.7%. During MCO (Movement Control Order), car dealership centres and showrooms were not allowed to operate, thus affecting the sales of vehicles to customers," he said in a statement today.

However, it is noted that online retail sales continued to record a significant increase at 28.9% in April 2020, indicating the expansion of e-commerce activities.

Retail trade recorded a y-o-y decline of 32.4% to RM28.3 billion, as the imposition of the MCO since March 18 has resulted in negative growth for most retail activities.

"The main declines were observed in retail sales in specialist stores (-56.8%), retail sales of automotive fuel (-56.3%), retail sales of cultural

Posted by Good123 > 2020-06-11 13:58 | Report Abuse

grocery Dan online tak kuat, susah kini

Posted by Good123 > 2020-06-11 13:59 | Report Abuse

KUALA LUMPUR (June 11): Malaysia's sales value of wholesale and retail trade plunged 36.6% year-on-year (y-o-y) in April 2020, which was the biggest decline in history after recording a decrease of 5.7% in March 2020, according to the Department of Statistics Malaysia.

Chief statistician of Malaysia Datuk Seri Dr Mohd Uzir Mahidin further said that in the normal business environment, it is estimated that the sales of wholesale and retail trade fell RM45 billion in April 2020.

"The steepest fall was recorded by motor vehicles which plummeted -93.2%, mostly due to precipitous drop in sales of motor vehicles of -93.7%. During MCO (Movement Control Order), car dealership centres and showrooms were not allowed to operate, thus affecting the sales of vehicles to customers," he said in a statement today.

However, it is noted that online retail sales continued to record a significant increase at 28.9% in April 2020, indicating the expansion of e-commerce activities.

Retail trade recorded a y-o-y decline of 32.4% to RM28.3 billion, as the imposition of the MCO since March 18 has resulted in negative growth for most retail activities.

"The main declines were observed in retail sales in specialist stores (-56.8%), retail sales of automotive fuel (-56.3%), retail sales of cultural

Posted by Good123 > 2020-06-11 17:51 | Report Abuse

need to start anew its biz IT strategy to survive

Posted by Good123 > 2020-06-11 17:52 | Report Abuse

learn from aeon to do grocery also plus aeon credit issuing credit card to customers, loyalty, etc

Posted by Good123 > 2020-06-11 17:53 | Report Abuse

don't follow aeon's IT biz strategy, also ciplak. should have a look at Mr DIY :)

Posted by Good123 > 2020-06-11 17:54 | Report Abuse

expecting parkson to lose money continuously this year

Posted by Good123 > 2020-06-11 18:06 | Report Abuse

parkson needs to turn its biz strategy otherwise, expecting store tutup one by one especially in Malaysia

Posted by Good123 > 2020-06-11 18:07 | Report Abuse

Dah abad ke 21, Masih main strategy abad ke 20

Posted by Hidup_PN > 2020-06-12 11:43 | Report Abuse

PRGL or PRA up why haters cannot say?

Posted by Hidup_PN > 2020-06-12 11:43 | Report Abuse

Free(or discount) rent and wage subsidy only PN govn can give?

Posted by 4iiii > 2020-06-15 09:40 | Report Abuse

I3 rubbish forum? PRA up why nobody see?
https://sg.finance.yahoo.com/quote/O9E.SI/