Posted by BursaVulture > 2023-06-26 13:12 | Report Abuse

@Lee88Lee

1. First of all, the name is kind of outdated, they got no news to sell. And why start a new brand? I rather they start a new Maru Convenient Store with new concept. Branding is important, and mynews already lost.

2. I do enter CU, I buy the bingsu as my son loves the bingsu. When they started CU, they only sell Korean food and stuff, like 100% korean, I can't even find a pack of twisties. I dont know korean junk food, I dare not buy. Price is not an issue for me. But since then, they'v changed and started to stock up some local food, they started with the wrong concept and foundation. If FM only sells nothing but Japanese food, I can assure you it will flop too.

3. Shop manage is to make sure everything is run smoothly, if I am the shop manager and profit and loss is my responsibility, what I will do is I will try not to order too many food to be displayed. If the food dont sell, I will bear the consequences for the losses. If I order little bit, as long as I dont lose money, I dont care, ends up most of the time the shelves are empty or not available. As a manager, if there are some corndog that cannot be sold today, I will keep it in the fridge and reheat it tomorrow, as long as I sell and dont make a loss, I dont care about food freshness. FM will throw and prepare new food tomorrow, fresh. As time goes by, CU food will be knows as soggy, hard, not fresh... etc.

4. Mynews Super value is a bad idea.

5. Again, Mynews Super value is a very bad idea. Have you been into one? What are they? a mart with a mini convenient store? can they compete with 99 on price? can they compete with 711, FM on the convenient store? What is it? Not here not there. I have no problem with them moving into mini mart business, if they want to, start with a new name and dont include a mini convenient store in it. Make sure it is 100% a mini mart. This is like buying a hybrid car, not powerful enough, not quite energy efficient, then 10 years later battery die need lots of money.... hard to sell as no demand for 2nd hand... hybrid is the worse type of product/business.

Posted by Lee88Lee > 2023-06-26 19:56 | Report Abuse

1. Just because the name then your conclusions is Mynews lost?
Do you check the sale ? Is higher than before, even I take out CU contribution.

2. I think you like to said something very confident without doing fact find. Go and check back Google and YouTube, there is local brand and drink there for the 1st CU branch,

3. you said as long as order less then won’t lost?! What If I order a lot, the food cannnot sell then won’t make lost ? The Oder is based on each store data and MYnews HQ will take a balance on quantity and wastage .The freshness of the food is out of control by the store manager. I also see CU staff throw food too. One thing i find out what they should improve is the fresh food delivery is slow. Morning around 9am I enter to the shop, I see less RTD food, I talk to the staff is it sold out, he said the lorry not yet deliver to their branch.
4. Idea is bad or good, time will know. You can speak out 10 ideas that you personally feel it is the best, and still got people can comment it is bad idea. Businessmen is the person who try to execute and adjust their idea accordingly based on situation and time frame.
5. This is the most funny part when people comment a business. if I do a business, if I always take the leader in the industry to compare, what for? The answer is yes or no. Without execution,seat there analysis yes or no is 100% correct. Mr DIY also got different concept store. MYNEWS. SUPERVALUE, I see people comment the fresh food price is cheap. Doing business can me innovative, no law said that you need to do business according to the definition of the word. Go and see all the review for all SUPERVALUE concept store, customer is very happy in term of the price and choices.The review is better than all the convenience store including CU/FM/7/11.

Posted by BursaVulture > 2023-06-26 21:52 | Report Abuse

@Lee88Lee

You're emotional, good luck.

Posted by Lee88Lee > 2023-06-26 22:35 | Report Abuse

Most of the people can’t provide fact during discussion, as usual, they will said something out of the topic.

Posted by speakup > 2023-06-27 07:53 | Report Abuse

i'm not a shareholder of Mynews, but i can tell u if I see Speedmart 99, KK-Mart, 7-11, Mynews, Family Mart.
My 1st choice is to go to Speedmart 99, 2nd choice MyNews, 3rd choice Family Mart, 4th choice KK Mart, last choice 7-11!
Just my 2 sens 😎

Posted by Lee88Lee > 2023-06-27 08:16 | Report Abuse

From 2013-2015
MyNews store average sales around RM960K to RM950K. The contribution from newspapers and magazines around 20%-12%.

After 2016-2018, the contribution from newspaper drop significantly to 5%-2%.
From 2016-2018, MyNews store average sales drop to RM871K to RM849K.

According to latest annual report, take out the contribution from CU mart.
MyNews store average sales per store increase to RM 970K and over RM1 million during year 2019 and 2022.


What does this figure tell us?
Last time Newspaper is major contributor to Mynews business, but after management quickly change the focus of the group because the environment changed.
Then the revenue increase back, and is more than before.


If Mynews really lost her direction or no people willing to shop there due to Mynews din sell newspaper. This is just your own thought without looking to the fact.

Posted by BursaVulture > 2023-06-27 18:27 | Report Abuse

1. Did they stop selling newspaper and magazine because they choose to do so or they are forced to do so? After lockdown, Bluinc, one of the biggest magazine publisher declared bankrupt, and due to lockdown, many people are dragged to the digital age.

2. Revenue went up because of inflation or sales? You can have RM100 Billion in revenue but if it is due to inflation eating up the profit margin, then RM1 Trillion revenue also useless if it cannot be translated into profit.

3. Do you know why mynews was against the new anti-smoking law?

4. the mynews brand is bad, they should bury it and start a new convenient store by the name of maru, with cute characters (hopefully a cat) and new theme. Sell ready to eat small nasi lemak, teh tarik, bubble tea, kuih all on the go. Maybe it will flop, who knows, better try than to fail using the same strategy expecting a different results.

Posted by Lee88Lee > 2023-06-27 19:15 | Report Abuse

Hi Good evening

1.As i mention above, due to environmental changed. Your example of Bluinc shows that Mynews management team done a good job to bring the group get another source of revenue and they did better than before.

2.Of course got inflation factor inside. But if due to inflation, they did even better than before, credit to management tea,. this show that customer are willing to spend there even the price is increase. And because you said Mynews is lost due to its name, I show revenue figure, it is a good indicator that the business still there. People are willing to spend. Do you have figure show that revenue keep dropping?

Second, Mynews itself earning money, due to it operate long time ago. You also can check the margin before they do a huge capex, the margin increases around 1% even the newspaper contribution drop significantly. Even the cost of business increased. 2017 margin is 7.3%, 2015 is 6.2%.
Why Mynews lose money, simple, due to the factory and CU. And it is normal for a retail business. Average break even is 3 years. I also show Taiwan 7-11 and FM take 6 years to breakeven. Even QL also didt provide actual figure for FM contribution until recently they show FM Malaysia turn profit.


3. Cigarettes is one of the source of revenue.
4. Lol. This is the most funny part. You just give personal feeling said this bad that bad. What I show you the figure it succeeds. Can you show figure and explain where Mynews fail ? Even a hybrid car so bad also got people buy. Personally I feel your idea is good.

Posted by BursaVulture > 2023-06-27 20:13 | Report Abuse

@Lee88Lee

you're emotional

Posted by Lee88Lee > 2023-06-27 23:01 | Report Abuse

MYNEWS is profitable, to the notion of 80% of pre-pandemic profit despite having hundreds more less stores.



Good news for me. Mynews do fund raising to expand it store, I think share price will drop.
Will enter around 36 sen, after add in 10% share, market cap is 270million.
10% discount from today market cap.

Posted by DickyMe > 2023-06-27 23:37 | Report Abuse

"Lee88Lee

Regarding Bangladeshi worker.
It is a problem too.
But go and check CU,MYNEWS and FM Google review, 90% the complaints is due to local staff."
================================

If you want Bangladeshi worker, open your business in Bangladesh, why open in Malaysia. If Malaysians are the bulk of your problem you should kick your recruitment officer out for not able to select quality workers. You should hire supervisors to monitor. Is that hard to do?

Posted by Lee88Lee > 2023-06-28 00:33 | Report Abuse

Lol.
What kind of logic.
Then Singapore should open business in Malaysia. A lot of them hire Malaysian.
Many Malaysia’s businesses also should open business in Indonesia too.

Company who hire foreign CEO should open business at other country too. LOL

Definitely you don’t know the problem of Malaysia worker. Especially in retail. If it is so easy to hire, you won’t see many retail shop always stick hire notice at the shop.

If it is easy to do,You can try to do the business.
If you can provide good quality Malaysian worker, you are very rich.
Said is simple.

you said communication problem, I said it is a problem too.
Then I ask you go and check the big complaint is from local staff.
You said due to not select qualify staff. You taught the supervisor can monitor 24 hour?
Plus, supervisor also human, he also can become one of the problem too.

Posted by Lee88Lee > 2023-06-28 00:38 | Report Abuse

Head hunter company also lack of quality candidates.

And, pls la… every retail also got supervisor, but every retail also got complain issues. So if supervisor can solve all the problems, then you won’t see complaints la…

Understand or not ?

Posted by Lee88Lee > 2023-06-28 00:58 | Report Abuse

Tan, however, conceded that employers may prefer foreign labour as they have a better attitude as well as more likely to produce better work compared to locals.

He said that by employing foreigners, the employers also would not have to deal with absenteeism and high turnover rates.


https://www.thestar.com.my/news/nation/2023/01/27/spend-more-on-hiring-local-workers#:~:text=Tan%2C%20however%2C%20conceded%20that%20employers,absenteeism%20and%20high%20turnover%20rates.

Posted by Lee88Lee > 2023-06-28 01:10 | Report Abuse

Last, why most if the complaint is regarding local staff? Is about attitude, not because of they can’t speak Malay or English.

Definitely communication is not the major problem in convenience store.

Why? People walk in take thing they want, scan and pay, if really can’t communicate still can show pictures or finger explain what they want.

Like I said, It is a problem but not the major issues that can cause huge damage to this kind of business.
Understand

Posted by DickyMe > 2023-06-28 12:05 | Report Abuse

It is not about logic!
Why hire foreign workers when local staffs are in abundance?
Your reasoning that locals faced with complaints is just an excuse.
It is your greed to reap maximum profit by paying lesser pay and treat foreign workers as slaves. If your remuneation and benefits are good, locals can provide excellent service. Why Telco companies can employ locals? Your priority is to make maximum profit through lesser cost and that is backfiring. I curse Mynews go bust in 2 years. Don't play, play!

Posted by BursaVulture > 2023-06-28 12:37 | Report Abuse

@DickyMe

1. I've worked in the service industry before, a restaurant to be specific. Why foreigners are better than workers when it comes to working behind the kitchen? They work hard, complain less, can OT anytime, put in 101%. Locals.... they are the opposite. And most important of all, locals will work for 3 or 6 months, sometimes 1 year and then leave, foreigners will work for 2 or 3 years. If turn over is high, very hard to run a business. But for business than needs to communicate with customers, local is better.

2. Why Telco companies hire locals? There are laws, not every industry can employ foreigners, like banking, medical etc. If the laws allows it, bosses will hire.

Posted by Lee88Lee > 2023-06-28 14:05 | Report Abuse

Dicky

No need logic ? OH ya… no wonder you like to talk nonsense without looking to the situations.

Thanks for bring out telco as an example.

Telco, for retail business also facing man power shortage.
Sure telco won’t hire foreigner la.
Like I said, depend what are the job scope and industry.
Telco retail business, got many technical and promotions need to explain. In some places, if you are local but can’t speak English, they also won’t hire.

Second, if , if they can hire foreigners, pretty sure will have a lot of complaints issued because language problem, end up no business.
MyNews or other CVS got foreign worker long long time ago, business still there.

My friend doing telco retail business.
It is damn hard to get man power, Chinese worker is very hard to get because they need to go out do coldcall. even Malay turn over rate and have high attitude problem. sometime they force to hire Aunty or uncle, but only stay few months.

Now all the salary is protect by min salary, especially listed company. foreign worker also same salary.

If your remuneration are good then can attract people, possibly.
But good or bad is depend on the person, salary is just one of the reason.For retail normal staff, how high you can provide?

Salary is part of the company expenses, some industry require many staff, a min increase of the salary also increase the price of the product.

Local staff are in abundance, job also are in abundance, so ?!
If it is so simple, then problem solve la. Sure that is a problem gab, the young ppl now also don’t want to do high working hour boring job. They want Grab, YouTube ,food delivery …

That why retail, factory, construction also facing problem. Many need to prepare bus and hostel to retain and attract people.

Your curse how power I don’t know. But Pls pray to God to increase your IQ, it is too low d.
OMG I want to thank God 1st.

Posted by DickyMe > 2023-06-28 16:08 | Report Abuse

They face problem hiring locals because their mindset is fixed that most of them are lazy and demanding. The fact is they don't even consider calling locals for interview. I have been there. The moment we call in, they say "WE DON'T TAKE SO AND SO RACE.." So, the problem is created by employers.

If I am the Labour Minister I will limit foreign workers to plantation, construction and cleaners. Beyond that, employers will be jailed. Repeat offenders will face business licence revocation. You can try all kinds of loopholes.

Whether I curse is powerful or not, the scam of foreign workers is caused by employers and politicians.
Before 80s we had excellent workforce, but came the racist old man, everything turned upside down.
RACISM and religion plays a big role in employing Malaysians. These are untold truths.

Posted by DickyMe > 2023-06-28 16:19 | Report Abuse

@BursaVulture
Foreign workers have no choice because
1. They have committed huge cost to arrive for a job
2. Their passport are confiscated by employers
3. They cannot voice displeasure over their working schedule because they enslaved themselves.
4. Their accommodation is taken care of by employers,
Compare that with locals,
1. They have families and relationship to spend time with, you don't expect them to be slaves.
2. Accommodation is not provided.

The issue is, you want a cheap SLAVE instead of employee.

Posted by Lee88Lee > 2023-06-28 16:57 | Report Abuse

It is not fix mind set, it is the real problem. Like I said, go and see the review in retail industry, the complaints is Malaysian complain local staff. Of course there are a lot of good local staff too.
You have been there meaning you are? HR department?
What kind of job they don’t even consider calling local ?


Thanks god luckily you are not labour ministry.
Before 80, those local people got no choice. Got job to do consider very good.
Now, a lot of job but teenager don’t want to do, they can choose.

If plantations, factory got no foreigners, production can’t run smooth. Some listed company example furniture, got order but not enough man power do produce.

Posted by DickyMe > 2023-06-28 17:01 | Report Abuse

Who cares about reviews.
It is mostly written by employers and manufacturers.

Every tie government comes with a plan to reduce foreign workers, the next day you can see MEF and FMM carrying flags and throwing tantrum. Government has no backbone and cannot fix this once and for all.

If I am the PM I will tell them to abide by the law or pack up the business! Go where you think you can get cheap slaves. We will not die!

Posted by Lee88Lee > 2023-06-28 17:03 | Report Abuse

Foreign workers have no choice because
1. They have committed huge cost to arrive for a job
2. Their passport are confiscated by employers
3. They cannot voice displeasure over their working schedule because they enslaved themselves.
4. Their accommodation is taken care of by employers,
Compare that with locals,
1. They have families and relationship to spend time with, you don't expect them to be slaves.
2. Accommodation is not provided.

The issue is, you want a cheap SLAVE instead of employee.


Consider all this is true, then it is very obvious thats why long working hour boring job not much local interest to do. This is the real problem.

Employers hire foreigners also got cost.
End up I can get a lot of foreigner willing to do to fix my problem
And local staff no interest to do and turn over rate so high.

This is the gap la.
You summary d


Thank you

Posted by DickyMe > 2023-06-28 17:08 | Report Abuse

The real problem is you want slaves to work for you to earn a comfortable life.
Yu don't consider that employees too have life and families. When you don't care about their concern who will provide good service?

Posted by Lee88Lee > 2023-06-28 17:20 | Report Abuse

The worker in Malaysia nowadays is better than before.

All industries have their salary range, have their min holiday, OT, employee right to follow.

The holiday also a lot in Malaysia.
Tmr is holiday too.

“When you don't care about their concern who will provide good service?”

Every industry even In same retail store, got ppl provide good service, normal service and bad service. So the ppl provide best service is the ppl get good pay? LOL.

Sure got bad employer , and also got bad employee too.
The fact is, this is a freedom labor market, both also got thing to contribute, agree then do or hire.

Posted by Lee88Lee > 2023-06-28 17:32 | Report Abuse

Those day when no law to implement min salary.
My mom who work as a waitress get RM 500 per month. No insurance, got OT, rest 1 week 1 time, more than that is unpaid .
No EPF

This is around year 2000.


Those day really bad for employees.

Now due to internet and people educated, more and more good right provider to labour.

The real problem is not they don’t want hire local, is the employee nowadays got a lot of better choice to work, and thing to enjoy.
Job that require high working hour & boring job is not their priority.

Posted by Lee88Lee > 2023-06-28 17:43 | Report Abuse

Who cares about reviews. 
It is mostly written by employers and manufacturers.

R: you can provide better evidence for me. Mostly written by employer. Ya. Good review sometime write by employer, I’m talking about bad review, bad complaint, this is review by employer ? Hahahaha. You making a lot of funny joke.



Every tie government comes with a plan to reduce foreign workers, the next day you can see MEF and FMM carrying flags and throwing tantrum. Government has no backbone and cannot fix this once and for all.

R: reduce foreign workers. Ya! The good thing is reduce foreign worker.
But how ? Just like all of the world, governments will said we try to control the inflation, so the price reduce ? 

If I am the PM I will tell them to abide by the law or pack up the business! Go where you think you can get cheap slaves. We will not die!

R: one of the major issues SME and business in Malaysia facing is lack of labour. Luckily you are not PM.
If not, Malaysia economic will die due to business cannot run smooth.

Posted by DickyMe > 2023-06-28 19:48 | Report Abuse

SME should apply robotics loh, No labour problem, only maintenance twice a month.
Let the useless SME who depend heavily on foreign workers die loh.

Posted by speakup > 2023-06-29 10:18 | Report Abuse

7-11 also run by banglas lah
Remember the 7-11 mop microwave incident? Was by a bangla

Posted by speakup > 2023-06-29 10:18 | Report Abuse

Kk Mart same.
Speedmart by locals

Posted by speakup > 2023-06-29 10:19 | Report Abuse

7-11 the worst 😖

Posted by DickyMe > 2023-06-29 13:09 | Report Abuse

7 - 11 was doing good service when recruitment was open to all Malaysian races.
As soon as it limit recruitment to a certain race, service when downhill. The problem is actually created by big shareholders. They dictate who should be hired. The foreign conundrum is artificially created for their benefit. So, I am right to say the employers are responsible for foreign worker influx. It is not only profit oriented but insidious intention to alter demography.

Posted by BursaVulture > 2023-06-29 16:43 | Report Abuse

@DickyMe

Consumer wants cheap and affordable stuff, local cost more to hire, I can also say because consumer demand low prices, therefore bosses have no choice but to hire cheap foreign workers so that they can sell at lower profit margin. right? unless you are the type that likes to pay more and happy everytime good goes up in price.

Posted by DickyMe > 2023-06-29 17:07 | Report Abuse

You can say anything in contrary to win the argument. That does not mean you are right.
That is what is happening. With that mindset there will never be amicable solution.
I just hope we can get a real patriotic leader to flush out all rent seeking employers, businessmen and investors. A leader who puts citizens first regardless of race and religion and who does not succumb to demands from business entity.

Posted by DickyMe > 2023-06-29 17:09 | Report Abuse

If locals cost more, shift your business elsewhere, where you think you can get workers who will work for a dime.

Posted by DickyMe > 2023-06-29 17:10 | Report Abuse

Don't need to pretend to worry about Malaysian economy.

Posted by Lee88Lee > 2023-06-29 20:42 | Report Abuse

Dicky talk like a politician who haven’t in power.
Critic and talk very easy.
When really become government, oh no!!! Is hard and complicated.

He said Hire Malaysian la, so many local staff.
Penalty to company who hire foreigners because boss only care money.
Shirt your business elsewhere la.

Walau! If the business shirt to others country, the impact is huge. No business activities, no job, not money, economy will die! And we have to import other product from other country!

Luckily your are hero in front of the screen.

Posted by BursaVulture > 2023-06-29 20:49 | Report Abuse

@DickyMe

Good advice. I think many with indonesian and filipino maids will shift their grandma grandpa and the entire house to Indonesia and philipine. Best idea ever.

Posted by DickyMe > 2023-06-29 20:49 | Report Abuse

We will be better of without greedy businessmen.
So, can leave elsewhere or not?
Got balls to shift your business to Bangladesh?

Posted by DickyMe > 2023-06-29 20:51 | Report Abuse

@BursaVulture

I say it will be good riddance.

Posted by BursaVulture > 2023-06-29 21:47 | Report Abuse

@DickyMe

If greed is bad, then it sounds like Mao Ze Dong and Stalin are your good friends. Good news, North Korea is the last country on earth that is against greedy profit. They do accept immigrants. Have a go, walk the talk.

Posted by Lee88Lee > 2023-06-29 21:56 | Report Abuse

Everyone is greedy, you try to ask your boss reduce your salary or when you do business, try to give discount on top of your profit margin.
LOL

Posted by DickyMe > 2023-06-29 22:55 | Report Abuse

@BursaVulture
I am sure you have decent comprehension of what I meant, and sure that you are not one of those half baked. Anti greed exist even in democracy. It all depends on your upbringing.

Posted by BursaVulture > 2023-06-30 01:09 | Report Abuse

@DickyMe

Let the free market decides. If you disagree with bosses hiring foreigners, then use your money to vote by visiting FamilyMart. Do not dine at places that hires foreigners. Buy a very very old house and renovate it yourself as newer houses are all build by foreigners, and when renovating, hire 100% locals, walk the talk.

Posted by DickyMe > 2023-06-30 11:19 | Report Abuse

@BursaVulture

I cook my own food, stop travelling around and yes we live a peaceful life in a little hut.
And still have access to latest technology.

Free market is decided by politicians and so called MNC plus local GLCs who monpolises services and goods.

Posted by Lee88Lee > 2023-06-30 15:31 | Report Abuse

Lol
Even you cook your own food
Your life and your food still provide by MNC who hire foreigners

So you better don’t eat .
LOL

Posted by DickyMe > 2023-06-30 19:54 | Report Abuse

LOL!
MNC selling vegetables? LOL!

Posted by Lee88Lee > 2023-06-30 23:48 | Report Abuse

Understand
You plant vegetables yourself
Feed chiken yourself
Use water from river
Didt use electric.

So natural
I like it.
LOL

Posted by DickyMe > 2023-07-01 01:22 | Report Abuse

For electricity i use solar panels, Free Energy..Muaaahahahaha!

Posted by Lee88Lee > 2023-07-01 10:44 | Report Abuse

Muahahaha
Ya. Your internet you use your own brand own tower too.
Lol