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2018-01-17 15:07 | Report Abuse

aeon have high debt. i heard the kuching store delay the openning


2018-01-12 10:54 | Report Abuse

maybe will go down


2017-12-26 12:40 | Report Abuse

if 90% is meet than nothing the shareholder can do


2017-12-26 12:39 | Report Abuse

THE CASE IS JUST LIKE HWANG DBS. eventually will be delisted and offer at higher price if could not get 90% acceptance. so that's why keep extension until jan 12 2018


2017-11-23 11:26 | Report Abuse

the news is published on 13/11/2017


2017-11-10 10:09 | Report Abuse

kalau tak jadi balik pergi below 20sen


2017-11-10 09:48 | Report Abuse

what is the offer price


2017-11-06 12:11 | Report Abuse

if is go through than how


2017-11-03 10:45 | Report Abuse

the price already built in the announcement


2017-11-01 15:51 | Report Abuse

selling again


2017-10-27 07:53 | Report Abuse

Notice extraordinary meeting 20/11/2017


2017-10-26 15:32 | Report Abuse

bonia starting up


2017-10-09 08:33 | Report Abuse

already up


2017-10-02 16:10 | Report Abuse

Bonia starting to look attractive
Esther Lee
The Edge Malaysia

September 27, 2017 15:00 pm MYT

This article first appeared in The Edge Malaysia Weekly, on September 18, 2017 - September 24, 2017.
SHARES in Bonia Corp Bhd rose with renewed vigour after the fashion retailer reported better-than-expected fourth-quarter results on Aug 30. Between then and Sept 12, the stock rose 17.7% to 66.5 sen.

Bonia’s net profit for the fourth quarter ended June 30 doubled to RM7.68 million from the previous corresponding period, which saw the group close FY2017 with a year-on-year earnings growth of 30.2% to RM31.73 million.

The group attributed its improved bottom line to the higher gross profit margin it achieved during the year, thanks to its continuous effort to control operating costs.

This was despite revenue slipping 4% year on year to RM153.39 million as the group consolidated its non-performing outlets and consignment counters.

The marked improvement in its net profit prompted AmInvestment Bank Research and CIMB Investment Bank Research to upgrade their recommendation on the stock to “buy” from “hold”. Affin Hwang Investment Bank Research maintained its “hold” call on the counter.

As Bonia turns the corner, its stock could start looking attractive to investors, given its comparatively cheaper valuations.

At 64 sen last Thursday, Bonia was trading at a trailing 12-month price-earnings ratio of 16.28 times — below that of its peers Padini Holdings Bhd (19.02 times), Hai-O Enterprise Bhd (27.35 times) and AEON Co. (M) Bhd (36.2 times). Parkson Holdings Bhd is loss-making.

The fashion retailer has been through some difficult times in recent years with the ringgit weakening against the US dollar and driving up the cost of goods, and the implementation of the Goods and Services Tax hurting consumer sentiment.

However, a change in strategy this year and less volatile foreign exchange rates seem to have helped Bonia regain its footing.

The company has been consolidating its operations by shutting down non-performing stores and consignment counters. AmInvestment estimates that Bonia has closed 22% of its consignment counters, leaving only 984 counters open as at 4QFY2017.

Also, instead of offering bigger discounts to drive sales as it did in the previous financial year, Bonia has been adjusting its pricing strategy by introducing higher-margin products and reducing the discounts, especially for its upmarket brands Bonia and Braun Büffel.

AmInvestment highlights in a research note that the company’s gross margin for FY2017 improved by 3.5 percentage points to 58.6% on the back of higher average selling prices (ASPs).

“Recall that margins contracted to a multi-year low in FY2016 (55%) from an average of 61%, off the back of higher US dollar-led input costs. Given the stability of foreign exchange rates, there may be an upside for margins should management raise ASPs further in FY2018.

“Apart from that, we expect the cost-savings associated with the closure of 22% of its consignment stores to trickle down to its earnings before interest and taxes (Ebit) margins going into FY2018,” says the research house.

CIMB opines that the better earnings are also a result of better cost control and lower advertising and promotional expenses during the year.

The research house says the highlight of FY2017 is the growth of Bonia’s Indonesian business, which it believes is becoming a significant contributor to the group’s sales and earnings.

According to Bonia’s 2016 annual report, Indonesia contributed 2.9% to the group’s revenue in FY2016. CIMB estimates this to have grown to 6.3% in FY2017. “This is mostly because of the opening of additional Braun Büffel boutiques and 23 counters in Indonesia in September last year,” it says.

While analysts appear optimistic about Bonia’s prospects going forward, the group is a bit more conservative. In its 4QFY2017 results announcement, the group says it expects prospects to remain challenging going forward, given the uncertain economic outlook.

“With the continued increase in imported merchandise cost due to the weakened ringgit, the group will continue to monitor its operating cost and cautiously adjust its selling price to cope with the rising cost of operation.”

Bonia adds that it will also continue to consolidate its business by closing down non-performing outlets and strive to improve its gross margins. At the same time, it plans to develop and strengthen its markets in Indonesia, Vietnam and some of the Middle Eastern countries.

Though the group remains cautious, there is some good news for it.

The Consumer Sentiments Index inched up to 80.7 points in 2Q2017, rising for the third consecutive quarter, although it is still below the 100-point threshold.

At the same time, July’s Volume Index of Wholesale and Retail Trade — a key indicator of real private consumption — maintained its double-digit pace, growing 12.9% year on year for the fourth straight month, according


2017-09-21 14:46 | Report Abuse



2017-09-13 16:15 | Report Abuse

i think with the creador in Bonia, shall be good


2017-08-28 16:16 | Report Abuse

On 31 July 2017, the Company have submitted an application to Bursa Securities for the listing of and quotation for the
Consideration Shares, the Consideration New RCCPS and new ordinary shares in the Company to be issued upon the conversion
of the Consideration New RCCPS pursuant to the Proposed Scheme on the Main Market of Bursa Securities.


2017-08-28 16:16 | Report Abuse

On 21 July 2017, the Company have submitted an application to Bank Negara Malaysia for the proposed issuance of the New
RCCPS to non-residents in relation to the Consideration New RCCPS pursuant to the Proposed Scheme.


2017-08-28 16:13 | Report Abuse

The Group's revenue for the 6 months period ended 30 June 2017 decreased by 6.7% to RM552.9 million as compared to
RM592.5 million for the 6 months period in the preceding year. The decrease in revenue was mainly due to lower contribution
from the hotel segment. The previous year’s revenue had included revenue from Cititel Express Kuala Lumpur, Micasa Hotel
Yangon and Renaissance Kuala Lumpur Hotel which were disposed in March 2016, July 2016 and January 2017 respectively. The
contribution from these three hotels were RM57.4 million. However, this was mitigated by the higher revenue contributed by
The Tank Stream Hotel in Sydney.
However, the Group has recorded higher profit before taxation of RM239.3 million for the 6 months period ended 30 June 2017
as compared to RM168.5 million for the corresponding 6 months period in the preceding year, which represented an increase of
42.0%. This was mainly due to a one-off gain on disposal of Renaissance Kuala Lumpur Hotel.


2017-08-28 15:45 | Report Abuse

Bonia August 29 qtr result


2017-08-28 15:15 | Report Abuse

KUALA LUMPUR: Bonia Corp Bhd has had a good run in its share price in the past one year. From having traded at just RM1.90 a year ago, the counter had risen 186% to close at RM5.50 last Friday, giving it a market capitalisation of RM1.1 billion.

A major reason for this rise apart from the group’s internal consolidation process which has improved profit margins is said to be the increased level of institutional shareholdings in the company.

Currently, institutional shareholdings in Bonia stand at 40% compared with an estimated 15% to 20% a year ago. For instance, Milingtonia Ltd has emerged as one of the substantial shareholders of Bonia in August 2013, and currently holds a 7.25% stake in the group. Milingtonia is said to be linked with Creador Group, a long-term private equity firm focused on growth-orientated businesses and currently holds a 7.25% stake in the group.

Group finance director Chong Chin Look told The Edge Financial Daily that Creador is deemed a strategic investor as it has introduced Bonia to the management of several shopping complexes in Indonesia, and has also assisted in the market survey of Bonia’s branding in Indonesia.

The institutional shareholdings in Bonia are also more diverse compared with several years ago, considering that Permodalan Nasional Bhd (PNB) once held a dominant 32.99% stake in the retail group in June 2011. PNB has now ceased to be a shareholder of Bonia, having divested its stake gradually to other institutional funds including Creador.

Moving forward, Datuk Albert Chiang, group managing director of Bonia, said the group is open to strategic partnerships but cautious in picking the right partner.

“We’ve always open to strategic alliances [as we look] for synergies that can propel us further, beyond…Southeast Asia, such as China or even the Middle East eventually,” said Chiang.

He said Bonia has been approached by a few parties, be it for a strategic alliance or a stake in Bonia, but the group has yet to make any decisions.

The Chiang family, through Bonia Holdings Sdn Bhd, Freeway Team Sdn Bhd, and family members, collectively own half of the group. Should the group find a suitable partner, the family may have to divest part of its stake.

CIMB Research has an “add” call on the stock with a target price of RM8.11, while AmResearch has a “buy” call on the stock with a fair value of RM5.40.

Bonia moves forward with strength
Group on the right track to improve net margins to 12% from 7%.

Bonia Corp Bhd is not resting on its laurels after reporting better first-half results, with margins improving considerably as a result of the group’s internal consolidation exercise over the past two years.

In an interview with The Edge Financial Daily last week, group managing director Datuk Albert Chiang said Bonia is positive in keeping up with its earnings trajectory and is on the right track in terms of its branding and pricing strategy.

“There are a lot more things which could [still] be done we look towards the long term and expand. We haven’t maximised our potential,” said Chiang.

For one, Chiang said the group is upbeat on the prospects from Asean, particularly Indonesia and Vietnam. Excluding Malaysia and Singapore, sales from Asean contributed 5.8% to group revenue for the first six months ended Dec 31, 2013 of financial year 2014 (6MFY14). Indonesia accounted for 3% of that figure.

“Indonesia itself will keep us busy for another five to eight years to come, or even 10 years, as long as their political stability is there,” Chiang said, adding that sales turnover from Indonesia has been increasing 30% year-on-year (y-o-y).

Management expects its overseas revenue contribution (outside of Malaysia and Singapore), which includes Asean, Saudi Arabia, Taiwan and Japan, to increase to 10%, from 7.6% currently. Malaysia and Singapore accounted for the bulk of the group’s revenue at 92.4%.

To put “goals” in perspective, Chiang said the group should be able to have double-digit revenue growth for FY14 ending June.

“The group also has a vision to achieve 12% in profit after tax (PAT) margin by FY15/FY16,” said Chiang, though he admitted that this is more possible to achieve than the vision of hitting RM1 billion in turnover by FY15 – as crafted in the group’s “Vision 2015”.

For 6MYF14, Bonia’s net margin stood at 9.4%, as it reported a net profit of RM33.2 million on RM354.7 million in revenue. In FY13, net profit came in at RM41.15 million on revenue of RM632.33 million, indicating a net margin of 6.5%.

“All the measures that we are embruing on now are to improve our margins. Through the consolidation exercise [of] over counter and boutique operations, we strive for quality sales [to] enhance the power and perception of our branding,” said Chiang.

Bonia’s consignment business segment operates 1,027 counters and contributes 50% to group revenue. The boutique segment operates 164 boutiques, but contributes 36% to group revenue. Export/outright segment contributes


2017-08-28 10:54 | Report Abuse

no body know anything can happen. consumer is still weak.


2017-08-23 10:37 | Report Abuse

goldis dividend is low. but once the merger is done and economy recover than...
with the e-commerce come will affect the mall operator.


2017-08-23 10:36 | Report Abuse

already submit to SC.


2017-08-18 10:34 | Report Abuse

Apex Healthcare Bhd (AHB) is an off-patent pharmaceutical company and third-party drug distributor with operations in Singapore,
Malaysia, Vietnam and Indonesia. Its fundamentals are underpinned by exciting future opportunities, higher margins as the contribution
from its own-brand products expands, and its compelling dividends.


2017-08-16 16:25 | Report Abuse

a lot of seller. so be careful


2017-08-08 08:20 | Report Abuse

indonesia market consumer not spending.


2017-08-02 09:21 | Report Abuse

Paramount has allocated about MYR32m for a special dividend (or MYR0.075 per share) after the disposal of its Sri KDU campus yesterday. We believe shareholders would continue to be rewarded as the company further unlocks its asset values going forward. These include the potential disposal of other education properties, as well as the listing of the education division. Given the gain on disposal of MYR72.9m, we raise our TP to MYR2.37 (from MYR2.24, 27% upside) and keep our BUY call.

Hives off Sri KDU campus. Paramount announced its disposal of the Sri KDU campus to Alpha REIT (an unlisted Islamic education REIT backed by Employees Provident Fund) for a total cash consideration of MYR165m. The company has also entered into a triple-net lease agreement with the REIT to lease the property for 10+10 years, at a rental yield of around 7%.

Utilisation of proceeds. Of the MYR165m in proceeds, about MYR113m would be utilised to pare down borrowings. MYR31.8m would be allocated for a special dividend, which should be paid after the transaction is completed in 4Q17. This translates into a payout of MYR0.075 per share. Including our FY17 DPS forecast of MYR0.09, FY17F dividend yield may potentially hit 8.8%.

Positive on the asset monetisation exercise. We believe Paramount is just at the beginning stage of monetising its assets. This is in line with the asset-light strategy that its CEO, Mr Jeffrey Chew, has always emphasised on. Among the other assets that can be monetised in the future include the three REAL school campuses, as well as the listing of the education division. We think these are among the re-rating catalysts in the pipeline that could potentially drive its share price over the next 1-2 years.

Encouraging demand for Batu Kawan Utropolis. For the property development division, we understand that Paramount would likely exceed its full-year property sales target of MYR500m, as its sales in 1H have been very encouraging. Management indicated that its Batu Kawan Utropolis project has seen strong demand, as the growth prospects at Batu Kawan become more visible with the opening of Design Village, as well as the ongoing construction works of the KDU campus, Aspen Vision City and the IKEA outlet. Unbilled sales as at 1Q17 stood at MYR506m.

Forecasts. We revise our FY18-19 earnings forecasts down slightly by 1-2%. The overall impact to earnings is minimal, as the new rental expense for Sri KDU would be largely offset by the savings in interest cost and depreciation. After paring down the debt, Paramount’s net gearing is expected to improve to around 40%, from 46% currently.

BUY. We maintain our BUY rating on Paramount and lift our TP to MYR2.37 (from MYR2.24) to account for the disposal gain of MYR72.9m. This is based on an unchanged 55% discount to its property RNAV and a 20% SOP discount. We believe the asset monetisation catalysts as well as the attractive dividend yield would continue to drive investors’ interest on the stock. Downside risks to our call include weaker-than-expected market conditions.


2017-08-01 14:44 | Report Abuse

KUALA LUMPUR (Aug 1): 1Malaysia Development Bhd (1MDB) has missed its 12 noon-deadline today for a US$602.75 million payment to Abu Dhabi's International Petroleum Investment Co (IPIC), sources told theedgemarkets.com today.

The payment was due at 12 midnight, New York time on July 31. The exact reason for Malaysian Government-owned 1MDB's delayed payment is not known and it is unclear if there are clauses that allow for extensions.

At the time of writing, London Stock Exchange-listed IPIC had not issued a statement on the matter to the bourse. In Malaysia, 1MDB and the Malaysian Government had also not issued a media statement on the payment's status.

The Edge Financial Daily (Edge FD) reported today the US$602.75 million was the first tranche of two due to IPIC. The remaining portion of US$602.725 million is due by the year end.

Edge FD reported the main reason 1MDB owed this much of money to IPIC was because IPIC had been helping 1MDB meet its debt obligations since May 2015.


2017-08-01 09:44 | Report Abuse

Lotte: Maybank IB buys 17.1m shares to stabilise price. Maybank Investment Bank (Maybank IB) has bought 17.1m shares in Lotte Chemical Titan Holding as part of its exercise to stabilise the share price of the integrated petrochemical firm. Maybank IB said it bought the shares at RM6.4718 apiece, for a total of RM110.67m. As for Lotte Chemical Titan, Maybank said it is allowed to buy up to 27.77m shares, equivalent to a 4.8% of the total number of shares offered under the IPO. (The Edge). So maybank at least loss 36% on paper


2017-07-21 09:28 | Report Abuse

KUALA LUMPUR: Goldis Bhd, which is seeking to take subsidiary IGB Corp Bhd private, has sweetened its offer for the remaining IGB shares it does not own by waiving its right to all dividends and/or distributions declared, paid or made after the date of its Feb 23 proposal letter.

IGB Corp, the developer of Mid Valley City, told Bursa Malaysia that it had received a letter from Goldis on Thursday stating that the scheme shareholders would now be entitled to retain any dividend that IGB might declare, make or pay for this financial year ending Dec 31, 2017 (FY17), prior to the date of sanction of the proposed scheme by the High Court.

“For the avoidance of doubt, notwithstanding the waiver set out above, Goldis will not reduce the offer price by an amount equivalent to the net dividend for each IGB share which the scheme shareholders are entitled to retain,” it said.

“Similarly, if Goldis declares, makes or pays any dividend before the consideration shares and the consideration new RCCPS (redeemable convertible cumulative preference shares) are issued, the consideration shares issue price and the consideration new RCCPS issue price will not be reduced by an amount equivalent to the net dividend for each consideration share or consideration new RCCPS that the scheme shareholders are not entitled to.”

(Earlier this month, Goldis declared a first interim dividend of 2 sen per share for FY17. IGB, which paid an interim dividend of 10% for FY16 on March 17, has not declared any interim dividend for FY17.)

All other terms and conditions to the proposed scheme as set out in the proposal letter dated Feb 23 and as revised by the revised proposal letter dated June 30 remain the same.

The proposed scheme offers RM3 for each IGB share held, to be settled by either one of three options that the scheme shareholders can choose (100% cash, 30% cash and 70% Goldis shares, and 12% cash and 88% new Goldis RCCPS).

Goldis directly holds 73.43% of IGB’s share capital (excluding treasury shares). The Employees Provident Fund is the second largest shareholder with a 5.02% stake.

Kenanga Investment Bank Bhd, was appointed on April 14 as independent adviser on the proposed scheme. IGB has not posted any advice from Kenanga IB to-date on Bursa Malaysia's website on whether shareholders should accept or reject the offer.

IGB shares closed unchanged at RM2.83 on Thursday.

Read more at http://www.thestar.com.my/business/business-news/2017/07/20/goldis-sweetens-offer-for-igb-shares/#GEvM5ESfGeldbejc.99


2017-07-19 15:16 | Report Abuse

Genting Singapore PLC (the "Company") wishes to announce that the Company will release its second quarter financial results for the period ended 30 June 2017 on Thursday, 3 August 2017, after trading hours.


2017-07-17 15:19 | Report Abuse

no separate listing for reit. so sharehodler will not benefit. sell the schoold to private reits. do not know can get good price. with economy downturn who want to buy reits. rental also canoot collect


2017-07-12 10:40 | Report Abuse

still selling


2017-07-04 15:25 | Report Abuse

Hang Seng plunge to 400 pts


2017-07-04 08:39 | Report Abuse

But I wouldn’t rush out to stick all your newly-freed pension money into buy-to-let.

You see, ‘Help to Buy’ comes in two parts, and the extension does not apply to the most aggressive part of the scheme.

On top of that, Osborne also announced a sting in the tail that could hit central London property hard…

Help to Buy – a scheme of two halves

It easy to forget that the Help to Buy scheme is divided into two parts.

Both allow a buyer to secure a mortgage with as little as a 5% deposit. But they operate in very different ways.

The first part targets only those who want to buy a new-build house. In this case the government gives them a 20% home equity loan, which is interest-free for the first five years.

Effectively, the government owns a chunk of your house. So if you sell up, or want to buy back the government’s stake, the price will reflect the value of the house at that point.

In other words, if you bought a house at £200,000 with a £40,000 loan from the government, and the price rose to £300,000, you would have to pay £60,000 to get full ownership.

We don’t think it’s a good idea for the government to be putting taxpayers’ money on the line in the housing market. But at least this only applies to new builds. And at least the taxpayer is exposed to the upside too.

In contrast, the second part of Help to Buy is much more dangerous.

Firstly, it applies to all homes under £600,000, not just new build. So it doesn’t directly encourage any new supply, but it does increase demand by enabling people to pay more.

Another flaw is the way in which it is structured. The government – ie the taxpayer – underwrites part of the mortgage equivalent to 20% of the home’s value. This guarantee means that banks can feel comfortable writing a 95% mortgage loan for a borrower, because in reality they are only taking the risk of a 75% loan.

So while the taxpayer takes the hit first if prices fall and the homebuyer defaults on their loan, we don’t get any profits if property prices rise.

The shape of the post-election property market

However, Labour appears even more sceptical of the scheme. Shadow chancellor Ed Balls has argued in the Evening Standard that “the taxpayer should not be guaranteeing mortgages on homes worth as much as £600,000”. So it seems likely that the second part of Help to Buy at least is on borrowed time.

Meanwhile, all the talk now is of boosting supply of homes. The decision to build a 15,000 home ‘garden city’ in Ebbsfleet may be a rehash of an old idea, but it does show that the debate is shifting to a focus on more building.

Rising supply or a dip in demand (due to the second part of Help to Buy being scrapped) could help slow the market.

The rise of ‘ghost gazumping’

But there could be a more direct impact on the bubbliest of all the UK property markets – London. Almost every day we see a new piece of evidence that the market in the capital is completely out of control.

According to the FT, the latest fad is for ‘ghost gazumping’. Normal ‘gazumping’ is where the seller accepts an offer, only for a third party to gatecrash the deal at the last minute by offering more.

While this process is legal in most of the UK (the system is different in Scotland), it’s an extremely risky stunt to pull, as the whole deal can collapse in a riot of recriminations.

Yet under the new twist, estate agents are ringing sellers, and persuading them to re-list their homes at a higher price, even when there is no specific buyer available.

The fact that they are even able to convince some homeowners to forget the bird in the hand in favour of the two in the bush, reflects just how rapidly price expectations have shifted in a very short space of time – and the extent to which this is a sellers’ market.

But Osborne did announce one measure that could end up being a turning point. Until now, non-resident owners have been exempt from capital gains tax (CGT), just as your primary residence is exempt.

Combined with the eurozone crisis, and many other crises, this has made London properties, particularly prime ones, attractive as ‘safe havens’ for foreign money. Hence all the complaints about oligarchs of various nationalities buying up central London districts and leaving them as upmarket ‘ghost towns’.



2017-07-04 08:32 | Report Abuse

UK property market the price still up but a lot of property will be on auction from now


2017-06-16 11:21 | Report Abuse

perhaps Goldis can recognise some cost-savings from the merger. Clearly, there will be some savings from maintaining only one listing status.

But beyond that, will there be more restructuring?

“It’s too early to speculate. Let us finish the deal first, then the board can sit down and decide how we want to strategise and proceed,” explains Ng.

Looking ahead, IGB’s minorities may find themselves in an interesting position. If they share AllianceDBS’ view and expect Goldis, as a merged entity, to unlock value trapped in its assets, then they should opt for option 2.

But if they expect value to be unlocked over a longer period of time, then they should opt for option 3.

Of course, investors could always opt for option 1 — take the cash and invest directly in IGB REIT, a company that has clear visibility in earnings and dividends.


2017-06-06 09:51 | Report Abuse

goldis may take a hit..


2017-06-02 08:38 | Report Abuse

SpritEr expansion to China. Yu think so easy


2017-05-31 12:45 | Report Abuse

sales and expansion will need a lot of capital and plantation business also no good.


2017-05-29 10:16 | Report Abuse

when is result out


2017-05-25 09:47 | Report Abuse

people is selling


2017-05-24 14:53 | Report Abuse

china will not be paying the price you want