Followers
0
Following
0
Blog Posts
0
Threads
41
Blogs
Threads
Portfolio
Follower
Following
2020-09-15 09:22 | Report Abuse
Only bursa counter has presence in China for >20 years not other companies.
JediMaster Why should Alibaba buy parkson?
15/09/2020 9:03 AM
2020-04-28 21:18 | Report Abuse
Buy more 10-10.5. PRA no drop. PRGL even up today.
2020-03-10 10:47 | Report Abuse
Add more 13.5-14 sen. Be greedy when others fearful-Warren Buffett.
2019-09-16 17:42 | Report Abuse
Good news no need to ask why.
yucaihacai PRA up 19%, why?
14/09/2019 3:00 PM
2019-09-04 10:29 | Report Abuse
Parkson Holdings Bhd - FY19 Within Expectations
Date: 29/08/2019
Source : KENANGA
Stock : PARKSON Price Target : 0.27 | Price Call : BUY
Last Price : 0.22 | Upside/Downside : +0.05 (22.73%)
Back
FY19 CNL of RM64m expanded, compared to CNL of RM31m in FY18, is deemed within expectations of both our/consensus estimated CNL of RM60.9m. Malaysian operation has returned to black with the on-going rationalization strategy and China operation recorded higher operating efficiencies (+40%). At the current pace, PARKSON is expected to be in the black with FY20E CNP of RM8.5m and we introduce FY21E CNP, which is higher by 16%. Upgrade to OP from UP with a higher TP of RM0.270 (from RM0.240) based on the revised SoP.
FY19 within expectations. FY19 CNL of RM64m expanded, compared to CNL of RM31m in FY18, is deemed within expectations of both our/consensus full-year estimate of RM60.9m each. No dividend was declared, as expected.
YoY, FY19 core losses expanded to RM64m compared to core losses of RM31m in FY18 mainly due to higher finance costs and higher tax expenses. This was despite marginally increase in revenue (+1.3%) due to improved SSS growth from: (i) Malaysia (+5.1% vs. FY18 of -1.2%) which benefited from the spending spree during the zero-rated tax holiday as well as strong festivities sales, and (ii) Indonesia (-1.4% vs. FY18 of -3.8%) mainly driven by the targeted promotions and increasing house brands’ contribution, which more than offset the lower SSS growth in China and Vietnam/Myanmar operations. China’s FY19 SSS growth was lower at -2.2% vs. +0.5% in FY18 mainly due to lower direct sales arising from stores closures in 2018 but improving operating revenue was seen from strong sales performance in the Cosmetics & Accessories category (51% of merchandise sales). On the other hand, Vietnam’s SSS growth rates (-20.5% vs. FY18 of -8.3%) sunk deeper due to intense competition, especially with the launch of Vincom Center Landmark 81 Mall. Nevertheless, 53%-owned Parkson China recorded higher operating efficiencies to report an operating profit of RM155m (+40%) and Malaysia operation recorded operating profit of RM14m from operating loss of RM47m, which more than offset other region’s losses to record EBIT of RM100m.
QoQ, 4Q19 returned to the black with core PATAMI of RM12.6m compared to core losses of RM6.5m in 3Q19 from improved operating efficiencies and stores productivity, as the group recorded higher operating profit of RM55m (+2.6%), mainly contributed by China and Malaysia operation following the closure of underperforming stores (Malaysian segment saw the closure of Parkson stores in Suria KLCC and Puchong Square M Mall in the quarter, and China closed 3 stores YTD). These more than mitigated lower turnover (-13%) due to higher base in the previous quarter from seasonally stronger consumer spending during the CNY festivities and extended holiday but cushioned by Hari Raya Aidilfitri sales in Indonesia (+42%).
Outlook. We like Parkson for the following; (i) its strategy of optimising its retail format, expanding its product and services offerings, which is paying off, (ii) it is minimising stores losses via optimising store effectiveness and efficiency, which are bearing fruits, and (iii) China operation’s improvement to gain further momentum. As of June 2019, the group’s department stores network comprises 44 stores in China and 61 stores in South-East Asia, including Malaysia (42 stores), Vietnam (4 stores), and Indonesia (15 stores). Note that, Parkson has ceased its Myanmar operation with the closure of its only store in 2Q19.
Upgrade to OP from UP with a higher TP of RM0.270 (from RM0.240) based on the revised Sum-of-Parts (SoP) (implied PER of 34x based on FY20E EPS, above regional PER of 27x). The share price has plunged 20% since our UP call and we believe most negatives have been priced in. Key risks to our call are: (i) higher-than-expected losses in the South-East Asia region, and (ii) slower-than-expected China operation.
Source: Kenanga Research - 29 Aug 2019
2019-09-04 10:28 | Report Abuse
Parkson Holdings Bhd - FY19 Within Expectations
Date: 29/08/2019
Source : KENANGA
Stock : PARKSON Price Target : 0.27 | Price Call : BUY
Last Price : 0.22 | Upside/Downside : +0.05 (22.73%)
Back
FY19 CNL of RM64m expanded, compared to CNL of RM31m in FY18, is deemed within expectations of both our/consensus estimated CNL of RM60.9m. Malaysian operation has returned to black with the on-going rationalization strategy and China operation recorded higher operating efficiencies (+40%). At the current pace, PARKSON is expected to be in the black with FY20E CNP of RM8.5m and we introduce FY21E CNP, which is higher by 16%. Upgrade to OP from UP with a higher TP of RM0.270 (from RM0.240) based on the revised SoP.
FY19 within expectations. FY19 CNL of RM64m expanded, compared to CNL of RM31m in FY18, is deemed within expectations of both our/consensus full-year estimate of RM60.9m each. No dividend was declared, as expected.
YoY, FY19 core losses expanded to RM64m compared to core losses of RM31m in FY18 mainly due to higher finance costs and higher tax expenses. This was despite marginally increase in revenue (+1.3%) due to improved SSS growth from: (i) Malaysia (+5.1% vs. FY18 of -1.2%) which benefited from the spending spree during the zero-rated tax holiday as well as strong festivities sales, and (ii) Indonesia (-1.4% vs. FY18 of -3.8%) mainly driven by the targeted promotions and increasing house brands’ contribution, which more than offset the lower SSS growth in China and Vietnam/Myanmar operations. China’s FY19 SSS growth was lower at -2.2% vs. +0.5% in FY18 mainly due to lower direct sales arising from stores closures in 2018 but improving operating revenue was seen from strong sales performance in the Cosmetics & Accessories category (51% of merchandise sales). On the other hand, Vietnam’s SSS growth rates (-20.5% vs. FY18 of -8.3%) sunk deeper due to intense competition, especially with the launch of Vincom Center Landmark 81 Mall. Nevertheless, 53%-owned Parkson China recorded higher operating efficiencies to report an operating profit of RM155m (+40%) and Malaysia operation recorded operating profit of RM14m from operating loss of RM47m, which more than offset other region’s losses to record EBIT of RM100m.
QoQ, 4Q19 returned to the black with core PATAMI of RM12.6m compared to core losses of RM6.5m in 3Q19 from improved operating efficiencies and stores productivity, as the group recorded higher operating profit of RM55m (+2.6%), mainly contributed by China and Malaysia operation following the closure of underperforming stores (Malaysian segment saw the closure of Parkson stores in Suria KLCC and Puchong Square M Mall in the quarter, and China closed 3 stores YTD). These more than mitigated lower turnover (-13%) due to higher base in the previous quarter from seasonally stronger consumer spending during the CNY festivities and extended holiday but cushioned by Hari Raya Aidilfitri sales in Indonesia (+42%).
Outlook. We like Parkson for the following; (i) its strategy of optimising its retail format, expanding its product and services offerings, which is paying off, (ii) it is minimising stores losses via optimising store effectiveness and efficiency, which are bearing fruits, and (iii) China operation’s improvement to gain further momentum. As of June 2019, the group’s department stores network comprises 44 stores in China and 61 stores in South-East Asia, including Malaysia (42 stores), Vietnam (4 stores), and Indonesia (15 stores). Note that, Parkson has ceased its Myanmar operation with the closure of its only store in 2Q19.
Upgrade to OP from UP with a higher TP of RM0.270 (from RM0.240) based on the revised Sum-of-Parts (SoP) (implied PER of 34x based on FY20E EPS, above regional PER of 27x). The share price has plunged 20% since our UP call and we believe most negatives have been priced in. Key risks to our call are: (i) higher-than-expected losses in the South-East Asia region, and (ii) slower-than-expected China operation.
Source: Kenanga Research - 29 Aug 2019
2019-09-04 03:50 | Report Abuse
Parkson Holdings Bhd - FY19 Within Expectations
Date: 29/08/2019
Source : KENANGA
Stock : PARKSON Price Target : 0.27 | Price Call : BUY
Last Price : 0.22 | Upside/Downside : +0.05 (22.73%)
Back
FY19 CNL of RM64m expanded, compared to CNL of RM31m in FY18, is deemed within expectations of both our/consensus estimated CNL of RM60.9m. Malaysian operation has returned to black with the on-going rationalization strategy and China operation recorded higher operating efficiencies (+40%). At the current pace, PARKSON is expected to be in the black with FY20E CNP of RM8.5m and we introduce FY21E CNP, which is higher by 16%. Upgrade to OP from UP with a higher TP of RM0.270 (from RM0.240) based on the revised SoP.
FY19 within expectations. FY19 CNL of RM64m expanded, compared to CNL of RM31m in FY18, is deemed within expectations of both our/consensus full-year estimate of RM60.9m each. No dividend was declared, as expected.
YoY, FY19 core losses expanded to RM64m compared to core losses of RM31m in FY18 mainly due to higher finance costs and higher tax expenses. This was despite marginally increase in revenue (+1.3%) due to improved SSS growth from: (i) Malaysia (+5.1% vs. FY18 of -1.2%) which benefited from the spending spree during the zero-rated tax holiday as well as strong festivities sales, and (ii) Indonesia (-1.4% vs. FY18 of -3.8%) mainly driven by the targeted promotions and increasing house brands’ contribution, which more than offset the lower SSS growth in China and Vietnam/Myanmar operations. China’s FY19 SSS growth was lower at -2.2% vs. +0.5% in FY18 mainly due to lower direct sales arising from stores closures in 2018 but improving operating revenue was seen from strong sales performance in the Cosmetics & Accessories category (51% of merchandise sales). On the other hand, Vietnam’s SSS growth rates (-20.5% vs. FY18 of -8.3%) sunk deeper due to intense competition, especially with the launch of Vincom Center Landmark 81 Mall. Nevertheless, 53%-owned Parkson China recorded higher operating efficiencies to report an operating profit of RM155m (+40%) and Malaysia operation recorded operating profit of RM14m from operating loss of RM47m, which more than offset other region’s losses to record EBIT of RM100m.
QoQ, 4Q19 returned to the black with core PATAMI of RM12.6m compared to core losses of RM6.5m in 3Q19 from improved operating efficiencies and stores productivity, as the group recorded higher operating profit of RM55m (+2.6%), mainly contributed by China and Malaysia operation following the closure of underperforming stores (Malaysian segment saw the closure of Parkson stores in Suria KLCC and Puchong Square M Mall in the quarter, and China closed 3 stores YTD). These more than mitigated lower turnover (-13%) due to higher base in the previous quarter from seasonally stronger consumer spending during the CNY festivities and extended holiday but cushioned by Hari Raya Aidilfitri sales in Indonesia (+42%).
Outlook. We like Parkson for the following; (i) its strategy of optimising its retail format, expanding its product and services offerings, which is paying off, (ii) it is minimising stores losses via optimising store effectiveness and efficiency, which are bearing fruits, and (iii) China operation’s improvement to gain further momentum. As of June 2019, the group’s department stores network comprises 44 stores in China and 61 stores in South-East Asia, including Malaysia (42 stores), Vietnam (4 stores), and Indonesia (15 stores). Note that, Parkson has ceased its Myanmar operation with the closure of its only store in 2Q19.
Upgrade to OP from UP with a higher TP of RM0.270 (from RM0.240) based on the revised Sum-of-Parts (SoP) (implied PER of 34x based on FY20E EPS, above regional PER of 27x). The share price has plunged 20% since our UP call and we believe most negatives have been priced in. Key risks to our call are: (i) higher-than-expected losses in the South-East Asia region, and (ii) slower-than-expected China operation.
Source: Kenanga Research - 29 Aug 2019
2019-08-28 21:31 | Report Abuse
BOD resign can save cost not even 1 know? i3 better close.
2019-06-25 10:29 | Report Abuse
PRGL 74 sen, 1 year highest.
https://www.etnet.com.hk/www/eng/stocks/realtime/quote.php?code=3368
2019-05-01 17:17 | Report Abuse
Idiot ks55 cannot read and understand. I say Parkson which own PRA, PRGL cash rich why he say other thing?
Posted by ks55 > May 1, 2019 4:52 PM | Report Abuse
https://klse.i3investor.com/servlets/cube/post/parkson888888.jsp
Who got shares like Parkson, PRGL, PRA is cash rich. Like us who buy shares sell shares become what if not cash?
PRA cash rich?
OMG!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
2019-05-01 15:55 | Report Abuse
New PRA CFO can change PRA(Parkson) fortune? Previous CFO more concerned with quick preparing of QR even lousy to detriment of shareholders not the new 1?
2019-03-12 16:05 | Report Abuse
Buy more 24.5. Thanks nckcm sell to me haha.
2019-03-03 15:31 | Report Abuse
PRA, PRGL CFO, CEO gone so next QR 4 people high salary staffs no more.
2018-12-15 16:30 | Report Abuse
Sure they pay since PHB is major PRGL shareholders.
Posted by kennean > Dec 14, 2018 05:54 PM | Report Abuse
WC, PRGL declare RMB 0.03 dividen, please pay PHB RM 0.03 dividen too.
2018-12-15 16:24 | Report Abuse
You mean they gamble until no money to buy shirt?
J For Janice Really make me wonder why got so many naked malaysian.
15/12/2018 15:32
2018-11-26 09:42 | Report Abuse
PRGL up 3 sen no1 aware? You don't know Parkson make up of PRGL, PRA?
https://www.etnet.com.hk/www/eng/stocks/realtime/quote.php?code=3368
2018-11-23 21:23 | Report Abuse
Director resign so can save his buta gaji? Leesk you said WC must resign I said not right bec Parkson is his blood.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5982925
2018-11-23 12:43 | Report Abuse
PRGL up no1 know? I add more when kennean, Leesk, etc sell.
https://www.etnet.com.hk/www/eng/stocks/realtime/quote.php?code=3368
2018-10-31 21:54 | Report Abuse
ks55 is kosong duit. Where got money buy Parkson? Can talk kosong here only.
yucaihacai Why all Parkson up so much ? kosong 55, you buy ??
31/10/2018 16:20
2018-10-29 16:43 | Report Abuse
Who got shares like Parkson PRGL, PRA is cash rich. Like us who buy shares sell shares become what if not cash?
2018-10-29 16:41 | Report Abuse
PRGL up 2 sen. How to bankrupt?
2018-10-29 16:17 | Report Abuse
Cheap sale. Buy more make more haha.
https://www.etnet.com.hk/www/eng/stocks/realtime/quote.php?code=3368
2018-10-26 12:22 | Report Abuse
Add more 31-31.5 sen. PRGL up, PRA no drop.
2018-10-24 22:18 | Report Abuse
23rd Nov 2018. See today Bursa news.
Posted by Leesk > Oct 22, 2018 12:13 PM | Report Abuse
when is the AGM ? Please asked all the questions which is uncertain about the business. no dividends so many years
2018-10-11 10:18 | Report Abuse
Add more 33-33.5 sen. Those kpc here selling is it? William Cheng not selling any shares. Maybe now WC can privatise cheap-cheap? Perhaps TTB from Icap has power to decide whether to accept?
2018-09-20 15:29 | Report Abuse
Each time drop I buy more. Add at 39-39.5 sen today. What the rest shareholders can do? How abt suggest i3 close down?
2018-09-20 15:27 | Report Abuse
Many forumers are lazy I know. Either report abuse ks55 or state buy.
2018-08-28 11:38 | Report Abuse
PRGL, PRA after QR no drop only Parkson drop a lot. So better give us PRGL, PRA shares.
https://www.etnet.com.hk/www/eng/stocks/realtime/quote.php?code=3368
2018-08-28 11:32 | Report Abuse
Where are those who suggest give PRGL, PRA shares to us? Why you lazy to write to Parkson IR?
2018-08-26 23:09 | Report Abuse
Calculate base on 2 listed companies value ie PRGL and PRA.
2018-03-21 16:22 | Report Abuse
Pay peanut get peanut. Pay FOC how to get make money tip?
ks55 I am having 100 unit Parkson @ 60 sen.
I am also a Parkson owner, WC reporting to me every year in Parkson Annual Report.
21/03/2018 15:23
Stock: [PARKSON]: PARKSON HOLDINGS BHD
2020-09-15 09:29 | Report Abuse
WC getting smarter.
speakup no lar, my remisier say Parkson venture into glove biz.
15/09/2020 9:26 AM