Better ask sifu Radzi!

No...I think nikicheong just want to be very sure as you must understand niki's position in PHB. Unlike some fella jokers who perhaps still adding postion in PHB and a bit of rebound is as if a golden turn around while loosing in other counters yet loosing faith and calm as well. Moreover applying different IDs to fake out. Needless to reveal but understandable who being referred to!

nikicheong Ks55 may be emphasizing too much on that about PRG but that's true as it's already reported today in Q2. Financially and technically the directions are not really looking good. Hence H2 is really critical. So be cautious from now.

Hahaha... a very good question!

newbie5354 PRGL actual result?

Stock: [PARKSON]: PARKSON HOLDINGS BHD
Aug 16, 2017 09:27 PM | Report Abuse

PRGL result out tomorrow.
Expecting to lose RMB 80m.......
https://klse.i3investor.com/servlets/cube/post/ks55.jsp
17/08/2017 20:42

From your comment I can say that you're a NUT!

If you don't know how to make good use of this forum you can just not wasting your time here. If you want to air your emotion or ego then you've found the wrong place!

newbie5354 Royce you have nothing better do? Jobless and post here don't get you any money. Your AAX doesn't move up. Instead Parkson up. Why waste time here? Sold at 53 sen?

I don't get what you mean there. Please explain clearly!

If I'm mistaken you're the 1 usually find fault with Radzi! This forum here is for members to use wisely. If you can't post any comment which is useful to us here but looking for problems then you're in trouble. And I believe you're also using a fake ID and also few IDs.

So I'd like to listen to your explanation. Don't hide away from here. I'm waiting....

Based on the available data now from PRG Q2 and PRA PW, PHB can easily suffer a LPS of 10 sen from these 2 subsidiaries.

PGR Q2 result is nigh. 2H result to struggle. With - EPS more downside on PRG.

That means both subsidiaries are already in - earnings. So at best PHB will be expected to report more than RM 100M losses unless its' other unlisted companies generate huge profits to offset those losses which are a real miracle!

Hahaha....

Ks55 What's your estimate on PRG Q2?

FYI it's reported that PRA has given a profit warning of SGD 62 M loss for FY17!

Radzi Do you have any estimate on the US interest rate movement that impacts on AAX borrowing?

Ks55 Do you have any estimate for the loss in PRA for FY17?

Parkson8888 Since you asked 'Why PRGL today up 2 sen?' so tell us Y

Parkson8888 Before you keep asking bear in mind you still fail to explain anything yet..... if you can't simply explain better not waste your time asking anything!

Ks55 Assuming your prediction is true what level will PHB most like be after Q4 is reported?

Well thanks for sharing. Anyway that's old news already as the current focus is on Q2 FR.

@faizkl What would you like to interpret with that newslink?

PHB 0.53 T4 will be due from tomorrow. Critical period this week.....

PRA hit all time low today SGD 0.073. Very bearish!

Technically speaking if 0.28 can be reached than that's NOT the imminent bottom yet!

Parkson8888 A good question but it's not relevant to my comment specifically if you read carefully. The daily price movement of PHB is not conclusive but you need to observe the following sessions for confirmation. Intermittent rebound is common technically but it takes a longer period to form a clear direction. In fact further drifting of PRA serves a caution to PHB holders to consider some wise action's. Unless some + developments pending for announcements will warrant good opportunity in PHB exceptionally.

Btw why are you using Parkson8888 as your ID and not a proper name to reflect your status?

Nikicheong If you have observed after PRG and PRA reported results last quarter, PHB seemed to drift more along with PRA but not echoing PRG substantial rebound. Hence for the coming result PHB may likely stay muted even if PRG result is positive but may be affected by PRA result. Anyway this is just an assumption based on the last results reported.

Kelvin62 What happened to the questions I posted to you last week? Why you still fail to explain in detail? Is it difficult for you to explain?

Yes your instinct is wrong Lion88. They're irrelevant. Parkson will turn around if it can start reporting consistent profits or there's a major strategic group development that will boost the Group profitability and business direction ahead. Otherwise current situation may prevail.

Sorry error. Acceso

Yes. Access is rite

AAX closing is a negative signal. 1st T4 for 0.36 is due tomorrow and likely to be tested. That will prove if 0.36 is strong and resilient to distance from 0.35 major and critical support level.

Lion88 If you read my comments previously which touched on earnings and market cap for the Parkson Group you will understand why their shares variance is so excessive and what's actually driving PHB share down. One of the possible reasons can be similar to Ks55 view that's becoming very likely. This is no speculation as many may view but seems very likely. As far balance sheet is concerned PHB and PRG are still sound but not for PRA! High gearing and depleting reserves may warrant PRA to go for restructuring and recapitalisation!

Sorry error. Should be Q4.

Lion88 Yes PRA is flashing a negative signal. Be cautious as that is indicative of the pending Q2 result.

Radzi Technically AAX may attempt 0.38. To turn bullish AAX needs to stay above 0.38-0.385 immediately. Needs to observe T4 in the next few days for 0.36 transacted last week to retest support to confirm AAX current direction.

@radzi That 10K lots to push the price by 1 sen! What implication can we derive from such much?

nikicheong Agree with you that's why I didn't affirm that value from the calculation as the current price if you read clearly. That market cap calculation is a mere direct analysis and assesment on the variation between PHB and the 2 subsidiaries. That allows us to know currently how far vales deviate from the assessment based on the available data. And importantly that highlights how a company is affected by - earning vs. asset value! And also to highlight why the price slide continues post Q3 result.

Also the discount factor you suggested may not imply indefinitely. Usually stock moves ahead of announcement which triggers speculation.

@Beginner1 Don't assume for kelvin62 on his 'bully & Bursa Casino' claim. Let him provide his explanation in detail to validate his allegation to address us. Am sure many of us would like to know such a serious matter since many followers in this forum are interested parties with shares in Parkson.

Actually there are various methods of calculation depending on the respective industry. PER, RNAV, SOP, EBITA, PBV, etc....are some of the common approaches applied by IBs to set TP. Again the typical method is dependent on the respective industry and the peers.

@Beginner1

Based on today closing:
PRG market cap @ HKD 1.18 P/U 2.635 B shares = HKD 3.109 B - RM 1.71 B @ RM 0.55
PRA market cap @ SGD 0.09 P/U 637.8 M shares = SGD 60.642 M - RM 191.63 M @ RM 3.16

PHB market cap @ RM 0.535 P/U 1.067 B shares - RM 570.96 M

PHG effective interest based on 2016 AP in
PRG - 54.66% X RM 1.71 B = RM 934.69 M
PRA - 67.96% X RM 191.63 M = RM 130.23 M

Total market cap:
PRG + PRA = RM 1.065 B @ RM 0.998*

PHB = RM 570.96 M @ RM 0.535

Base on PHB effective interest in PRG and PRA the market cap (PRG + PRA) as of 11/8/17 is RM 1.065 B or RM 0.998 before other non listed investments in PHB.

However, PHB closed at RM 0.535 with a market cap of RM 570.96 M!

Not Q2. 28/8 is the expiry for C7. Q2 expected to be released before that.

Lion88 Pls don't be despaired yet. There'll be some rebounds for your consideration. The coming direction is only known when Q4 is released. You may now start making your accessment and decision for action to be taken pending on the outcome of Q4. At the same time look at the bright side as there are many good stocks in the market. Importantly those stocks must not be loss making to fit into your investment criteria and portfolio.

Don't feel sad. Market is alive always. There are good stocks all the time regardless of bullish or bearish market.

If yes since the expiry is 28/8 @ 0.355, that means high probability AAX will remain around current level at best if any downside is curtailing with the exception of a surprising sterling Q2 result to be released before that due date.

Radzi. ...Are you referring to C7 currently at 0.03?

kelvin62 Appreciate your comment with your reasons stated. Agree that you said the slide bcoz Q3 is red. Well how did Q3 loss affect the slide and the slide still continues now?

Also agree that PRG up a lot due to big property disposal gain. So what's the mkt cap of PRG based on today''s price and based on PHB ownership in PRG how much should that stand in PHB? The same for PRA as of today's price, what's the value contributing to PHB in MYR?

And you said because of bully here and Bursa casino status Parkson drop. Can you pls explain further how that happened and you have any proof to support you allegation?

Pls explain in detail.

Ks55 view of PHB going for a kitchen sinking exercise in Q4 can be a possible reason for PHB's share slide instead of rebounding after Q3. WC may want to tidy up the balance sheet going into the new FY18.

I'm not sure as I never looked into that yet. I think there's no direct link except WC controlling both plc separately now. So need to check the AR or latest update to confirm.

Guys, actually if you analyse all the 3 cos, 2 are loss making and 1 slightly breakeven. PRG and PHB no doubt having high NTA but EPS is - for PHB and breakeven for PRG. They're not property counters hence high asset values don't really influence the share price. Whereas PRA is bleeding badly due to massive regional expansion investment and heavy loss making outlets. Shareholders funds are currently below paid up capital due to high accumulated losses which is alarming with high gearing due to heavy borrowing to fund regional retail expansion plan. Hence, there'd be some negative development in PHB that keeps the price drifting otherwise would have rebounded in tandem with the strong rebound in PRG and PRA before sliding back in these 2 weeks. Essentially, PHB needs consistent + and solid earnings to commence a turnaround. Otherwise the current direction may still prolong. PHB is fortunate to rake in some cash from PRG''s disposal of a major mall in China which helped strengthen their respective cash flow and reserves. Otherwise they will have liquidity issues again. So when the 3 companies start to make profits is when there's light at the end of the tunnel!

http://sgx.i3investor.com/servlets/anpth/293333.jsp

PRA Q4 result to be released on 23/8!

limch Lim Kian Onn disposed last month. So coming QR must be bad?
limch You r right. More downside ahead. Lim Kian Onn sold at low price meaning now still not cheap.

What's LKO disposal got to do that coming QR must be bad? Why more downside ahead? Why low price meaning now still not cheap?

Pls explain limch!

Today PHB new low 0.535, PRG week low 1.20, PRA revisit low 0.09!

Think Ks55 assumption seems to be more and more realistic!

And since you said you bought more at 0.54..... wish you good luck for a quick rebound if posiible or else you'd listen to Ks55 advice for 25/8!

911!