From another perspective: 1. Padini latest FY included 2 Hari Raya Festival Sales 2. More are tightening their belts, no thanks to RM depreciation 3. Not sure dividend can maintain at at least 5% (when price is doubled from 1.50 to 3.00) which some may have bought this shares on the high DY basis.
It's ok, let them sell, the economy this bad, padini business sure good. Dividend good. I hope it drop even more... Waiting Italy election and US presidential election.
I did get the letter..... It did not mean much..... every year we get the same thing and ask for permission to do that. But there are some meaning there of course, when the economy is bad or they feel like people throw the share and cause the share price lower than what it suppose to be they the company have intention to buy back the share in the market. When they market recover and Q result are good people will come back and buy the stock at higher price. This way Padini can sell back to them haha.
Many company also doing that not only Padini though. So not so surprise and excite about that.
May be other can better elaborate on the share buy back to the newbies.
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....
optimus9199
2,794 posts
Posted by optimus9199 > 2016-09-17 01:12 | Report Abuse
Padini mega sales Sept 14 -18th store wide all over Malaysia.
I went to Padini Concept Store in KB yesterday, i was amazed that the Q to pay at counter Padini was so long + lots of shoppers too.