Dickyme, you keep comment “delisting soon” everywhere.... if you willing to learn more, your life will be more meaningful or you having problem with all the share stocks?.
The problem is with Bursa and listed counters taking investors for fools. It is a huge casino. There is no integrity, accountability or growth oriented mindset. Everyone is trying to be a vulture. Even GLCS operate like casino. They cannot perform without competition albeit having monopoly status. They cannot survive yet they don't let others to survive due to jealousy(iri hati) Too many PhD (Perangai hasad Dengki) in Malaysia. There are companies formed and operated for more than 30 years still trading like penny stocks. THIRTY YEARS what have they done? There is no investment worthy counters and investors. Many are punters betting in casino.
Dicky is right, KLCI is really a joke if compared to many other countries' boards we, mostly small to medium retailers can only hope to get some food from the big sharks
super cheap prices.... with the ECRL projects starting next month... it will help AEON.... surely the China workers of the ECRL will buy things from AEON, etc... also stimulate consumer spending... bandar malaysia will start...
super cheap prices.... with the ECRL projects starting next month... it will help AEON.... surely the China workers of the ECRL will buy things from AEON, etc... also stimulate consumer spending... bandar malaysia will start...
Transactions: No. Date Transaction Type No of Shares Price (RM) 1. 17/04/2019 Acquired 218,400 -
Circumstances by reason of which change has occurred: Acquisition of Shares
Nature of Interest: Direct Interest
Consideration:
No of Shares Held After Changes: Direct : 179,280,600 shares (12.7690%) Indirect/Deemed Interest : 0 shares (0.0000%) Total : 179,280,600 shares
Remarks: You are advised to read the entire contents of the announcement orattachment. To read the entire contents of the announcement or attachment,please access the Bursa website at http://www.bursamalaysia.com
Close FY18 CNP of RM124.5m (+17%) came in within our forecast at 105%, but above consensus expectation at 119%, of full-year estimates. The group opened a new AEON mall in Kuching, Sarawak in 2Q18 and another one in Negeri Sembilan in Jan 2019. The group has allocated RM400m capex for FY19 (FY18: RM400m) for the construction of the new mall and renovation of existing malls. No changes to our FY19E CNP. Reiterate OP with unchanged TP of RM2.00.
FY18 within our expectation. FY18 CNP of RM124.5m (+17%) came in within our forecast at 105%, but above consensus expectation at 119%, of full year-estimates. The FY18 CNP excludes a one-off recognition for divestment of an associates, Index Living Mall Malaysia Sdn Bhd (ILMM), with impairment loss of RM8.0m and share of 1H18 operating loss of RM11.4m. ILMM is a joint-venture company (51%/49%) between AEON and Index Living Mall Company Limited (ILM). A final DPS of 4.0 sen (FY17:4.0 sen) was declared for FY18, as expected.
YoY, FY18 CNP rose 17% mainly due to higher sales (+6%) with stronger performance in Retailing business division (+10%) and Property Management division (+4%). The positive growth was attributed to higher contribution from new AEON Mall Kuching (opened in 2Q18) and supported by the stronger contribution from new mall opened last year (AEON Kempas, Johor) as well as shopping malls that were renovated and expanded. Additionally, the effective tax rate was also lower at 43.8% (FY17: 45.8%)
QoQ, 4Q18 CNP surged 287%, despite the slower sales growth (+4%), mainly from expanded EBIT margin by 5.5ppt to 8.7% from 3.2% in 3Q18 due to lower base in 3Q as AEON absorbed the SST pricing impact, locking the zero-rated pricing only for September 2018 (SST tax percentage brackets are varied based on products, effective 1st
September 2018). Note that, 3Q is historically the weakest quarter for the group, without any festivities to boost sales, as compared to 4Q which are boosted by year-end promotional activities. Furthermore, the effective tax rate was also lower at 37.1% (3Q18: 40.8%)
Outlook. Management highlighted that for retailing space, they would continue to refurbish selected stores and employ appropriate marketing and pricing strategies, merchandise assortment reformation, maintaining quality customer service and further expand its ecommerce presence. For property management services, they expect the occupancy rate and rental rates to remain challenging. AEON will continue to leverage on its competitive strengths to draw customer traffic to its malls so as to maintain its position as a popular shopping destination. The group has opened new AEON mall in Kuching, Sarawak in 2Q18 and another one in Negeri Sembilan in January 2019. The group has allocated RM400m capex for FY18/FY19 (FY17: RM500m) for the construction of the new mall and renovation of existing malls.
Maintain OUTPERFORM with an unchanged TP of RM2.00 based on 21x FY19E EPS, at -1.0SD of its 5-year historical mean PER.We like AEON for its: (i) dual income streams, which are less vulnerable to price changes during implementation of the new SST, and (ii) on-going operations restructuring, improving margin for retailing, and sustained property income. Risks to our call include: (i) lower-than-expected sales, and (ii) higherthan-expected operating expenses.
Source: Kenanga Research - 28 Feb 2019
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
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....
Hafid
1,135 posts
Posted by Hafid > 2019-03-17 07:16 | Report Abuse
Wait for rm1.40