Bonia Group has a network of over 700 sales and outlets and 70 boutiques throughout the world including countries like Singapore, Malaysia, Japan, Taiwan, Hong Kong, China, Thailand, Vietnam, Indonesia, Brunei, Kingdom of Saudi Arabia, Oman, and Syria.
A recent announcement that Millington Ltd has acquired a substantial stake in leatherwear manufacturer Bonia Corp Bhd has prompted interest in who is behind Millington. Millington, registered in the British Virgin Islands (BVI), has emerged as a substantial shareholder of Bonia, with a 6.82% stake in the company. FocusM understands that Millington is linked to private equity fund Creador Sdn Bhd, which focuses on long-term investment in growth-oriented businesses in Indonesia, Malaysia, Singapore and India, reports G. Vasantha. Creador have investment in Oldtown White Coffee in April 2012 with 10% stake and sold in in April 2013 for 101% internal rate of return. Share price of Bonia reach it high at RM3.48. So why so many interested in Bonia.
I heard Millington is linked to private equity fund Creador Sdn Bhd, which focuses on long-term investment in growth-oriented businesses in Indonesia, Malaysia, Singapore and India which link to Maxis Boss
KUALA LUMPUR: Bonia Corp Bhd's pre-tax profit for the financial year ended June 30, 2013 rose to RM71.5 million from RM66.9 million in the same period last year.
Revenue surged to RM632.3 million from RM579.8 million previously, it said in a filing to Bursa Malaysia today.
Bonia said the revenue growth was driven by the better contributions from overseas sales, mainly Indonesia and Vietnam, which contributed 14 per cent and 16 per cent of the increase in revenue respectively.
It added that the improved performances from Carlo Rino and Sembonia brands contributed 20 per cent and 27 per cent of the increase in revenue respectively.
Bonia said the group’s prospects for the coming year were expected to be challenging due to the uncertain economic outlook.
"In view of this situation, it is imperative for the group to strive for continuous improve to further increase operational efficiency while positioning the businesses and brands for opportunistic growth and recognition," it said.
Bonia said it would continue to explore new business opportunRead more: Bonia pre-tax profit rises to RM71.5m
It said on Friday its revenue rose 11.9% to RM154.68mil from RM138.20mil while earnings per share were 2.52 sen compared with 0.48 sen. It proposed a dividend of 5.0 sen a share.
Bonia’s selling and distribution expenses rose to RM52.91mil from RM43.05mil while general and administrative expenses declined to RM30.39mil from RM33.88mil.
When compared with the preceding quarter ended March 31, 2013, its profit before tax was lower at RM13.0mil versus RM19.7mil.
The factors were mainly exceptional items incurred due to allowance for impairment losses on property, plant and equipment amounting to RM4mil and impairment loss on loan to an associate amounting to RM3.8mil.
Bonia said the group incurred an advertising and promotion expenses of RM2mil during the current quarter under review.
“Excluding these exceptional items and the advertising costs, the group would have recorded a profit before tax of RM22.8mil,” it said.
For the financial year ended June 30, 2013, its earnings edged up 0.6% to RM41.14mil from RM40.88mil in the previous financial year ended June 30, 2012. Its revenue rose 9.1% to RM632.32mil from RM579.81mil.
“The growth was driven by the better contributions from overseas sales mainly from Indonesia and Vietnam which contributed 14% and 16% of the increase in revenue as well as improved performance from Carlo Rino and Sembonia brands which contributed 20% and 27 % of the increase in revenue respectively,” it said.
Bonia said there were impairment losses made on property, plant and equipment amounting to RM4.0mil as well as allowance for impairment loss on loan to an associate amounting to RM6.1mil.
“Excluding these exceptional items, the group would have posted a profit before tax of RM81.6mil as compared to profit before tax of RM77.1mil reported in the previous year,” it said.
It added the business expansion plan in Indonesia and Vietnam has resulted in high initial investment costs incurred for renovation, advertising and promotion, rental and set up.
“However, the revenues generated from the new stores from overseas have been slower than expected, thus, affecting the profitability of the group,” it said.
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....
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Posted by hobson64 > 2013-08-05 20:53 | Report Abuse
Trust me, the heat is on. I can smell this stock is going to be like Asiabrand, Scientx, Prlexus, Pintaras Jaya...