free warrant for existing shareholder = bonus. Imagine warrant open price at RM0.25. If you have 200,000 shares, you will entitled 50,000 warrant. Bonus = RM12,500.00

JayC: Where you saw PP?

Rumour O&G will be inject.

Neversaydie, when there is corporate new then share price will be historical high

BONIA CORP BHD

By Affin Research

Add (maintained)

Target price: RM1.61

AFFIN Research said Bonia’s earnings growth was expected to be driven by its expansion in Vietnam and Indonesia, adding that these operations had been progressively contributing to its topline.

To date, it said, the group had a total store count of eight in Indonesia and 18 in Viet-nam.

Going forward, it believed that these markets would contribute positively to Bonia’s bottomline over the longer term.

Affin Research noted that besides expanding its own in-house brands, the group was also aggressively expanding its co-owned brand, Braun Buffel.

It has opened another five stores year-to-date (three in Malaysia and two in Singapore), as well as dedicated new production lines in its upcoming Malacca facility for the manufacturing of Braun Buffel products.

This new plant is expected to be commissioned by the fourth quarter with a manufacturing capacity of 20,000 bags per year.

After meeting management, Affin Research said Bonia’s growth for the next few years would be backed by increasing sales volume in tandem with improved brand recognition, regional expansion of its boutique stores and reallocation of resources to improve operating efficiencies.

It said that in light of clearer earnings visibility, it believed its forecasts were on the conservative side.

Therefore, it lowered its financial year ending June 30, 2015 (FY15) to FY16 expansion cost assumptions by 2% to 3%, which raised the company’s earnings per share forecasts for the period by 7% to 18%.

Given Bonia’s better prospects, it also raised its target price-to-earnings ratio multiple to 16 times for 2015 and lifted its 12-month target price to RM1.61 from RM1.36.

Ytl cement plan to offer price within RM0.40 to RM0.45

Target RM3.96 (Stock Rating: ADD)


At 76% annualised net profit, SBC's 1QFY15 net profit was within expectations as 1Q is seasonally a weak quarter. We should see stronger quarters ahead. We maintain our EPS forecasts and target price, based on an unchanged 40% discount to its RNAV; the discount is in line with the discount for other small-cap property stocks. SBC remains an Add. Potential re-rating catalysts for the stock include the maiden launch of the Jesselton Quay (JQ) project and its huge share price discount to its RNAV.


1QFY15 net profit up 20.3% yoy
1QFY15 net profit rose 20.3% yoy to RM7.7m, driven by higher property sales. Net profit could have been even higher if not for certain expenses disallowed for taxation purposes. No interim dividend was declared, in line with our expectation. Associate contribution surged 117% to RM2.6m, mainly due to higher selling prices (higher profit margin) at its Batang Kali, Selangor development. Batang Kali is selling double-storey terrace houses for only around RM350,000 per unit. Although selling prices are much lower than Kuala Lumpur prices, land cost is cheap in Batang Kali (land was acquired in 1995).


RM250m unbilled sales
We estimate its current unbilled sales at around RM250m and this should increase later in the year. SBC is planning new launches by year-end such as an RM160m high-end condominium project in Bangsar, an RM500m condominium project at The Peak, Kota Kinabalu, the RM500m mixed development in Batang Kali and more Kiara East residential units. The company announced the masterplan for its Kota Kinabalu Jesselton Quay (JQ) project at end-May but has yet to have its maiden launch. We believe the delays were at the state levels but we understand SBC is targeting JQ's first launch in 4QCY14, likely to consist of retail and service suites worth RM500m. We have conservatively assumed no earnings contribution from JQ in FY15.


Continues to trade at a huge discount to RNAV/share
The stock has been trading sideways over the past few months. Its share price continues to trade at a huge 68% discount to our RM6.60 RNAV/share. We were looking for the RNAV discount to narrow once the JQ launches its maiden launch but it looks like this would only happen closer to the end of this year.

Rumour from remiser. YTL Cement or Lafarge is planning to take over SCH.

Just like Bonia recently, after Bonus close to the date, share price shoot up.

Rumors i heard: Extremely good results coming up end of August, and so is due for goreng since the IPO beginning of 2014, the stock has been downtrend.. and interest is piling up pushing up the shares in July..

Today value around RM400 million. They profit at least RM200 million. You think they are going to support the price again?
Owner sold almost all. They will let it fall freely.

Holders : Milingtonia Limited
Date : 11/03/2014
Held (%) : 58,269,040 (7.23)


Holders : Albizia Asean Opportunities Fund
Date : 10/03/2014
Held (%) : 57,697,200 (7.16)


Holders : Albizia Capital Pte Ltd
Date : 10/03/2014
Held (%) : 57,697,200 (7.16)


Holders : Bonia Holdings Sdn Bhd
Date : 23/07/2014
Held (%) : 49,996,992 (6.2)


Holders : Permodalan Nasional Berhad
Date : 30/09/2013
Held (%) : 49,712,792 (6.17)


Holders : Credit Suisse, Investment Banking and Securities Investments
Date : 30/09/2013
Held (%) : 35,256,240 (4.37)


Holders : Yang Hong Poh

Many funds manager waiting this counter to move up to RM2.35

Bonus issue submitted to Bursa.

Many funds manager is waiting to bear fruits

Holders : Prudential Fund Management Berhad
Date : 31/03/2014
Held (%) : 767,100 (0.49)

TA Dana OptiMix Fund
Date : 31/01/2014
Held (%) : 581,600 (0.37)


Holders : TA Investment Management Berhad
Date : 31/01/2014
Held (%) : 581,600 (0.37)


Holders : Eastspring Investments Unit Trusts - Small-Cap Fund
Date : 31/12/2013
Held (%) : 573,800 (0.37)

Patient patient

Epf will force Supermx to lowest

TP before Right RM0.20

Dividend

The Directors have recommended a first and final single tier dividend of 4.75 sen per share amounting to RM 7,434,443.03 for the financial year ended 31 March 2014 in respect of ordinary shares as follows:-

(a) (i) Amount per share: 4.75 sen single tier
(ii) Previous corresponding period: 4.0 sen less 25% income tax.
(iii)Total dividend for the financial year ended 31 March 2014: 4.75 sen single tier per share

(b) The date of entitlement to dividend and the date of dividend payment will be announced at a later date.

heading up

something is brewing

Bonia products may be available at all Parkson outlets in China.

KUALA LUMPUR: Parkson Holdings Bhd, which has acquired stakes in three companies for RM59 million, hopes to grow its in-house brands by generating 20% to 30% sales from this segment over the next three to five years.

Its chairman-cum-managing director Tan Sri William Cheng said the acquisition plans would be able to help the firm to grab better profit margin, especially in the online sales division.

"Right now we need a change, we used to carry consignment not belonging to Parkson, but without our brands, it's difficult to do online sales…this is the trend in China," he told a press conference here yesterday in conjunction with the signing ceremony with joint venture partners.

The group has set a target to further increase its in-house brands' contribution to 50% of total sales in the long term.

Parkson is buying a 60% stake each in AUM Hospitality Sdn Bhd and Giftmate Sdn Bhd for RM48 million and RM8 million, while a 50% stake in Valino International Apparel Sdn Bhd worth RM3 million.

AUM Hospitality has 12 brands under its portfolio in the food, beverage and entertainment area; Giftmate is involved in the premium gift segment; and Valino specialises in menswear and owns the "Kent" brand from Indonesia.

Cheng said Parkson is looking to acquire another six in-house brands by year-end, with three brands each in the Malaysia and China markets. He said Parkson would also be looking to bring the "Bonia" brand, which is currently looking to re-enter the China market, with it.

"Brands are the most important thing for retail market…it helps us to improve net profit," he added.

LOSER COUNTER. EPF NOT SUPPORTING THIS COUNTER ANYMORE.

I dont know the rumor is true or not, that after bonus issue, price should be above RM1.20.

Investors accumulating the shares at RM2.15 to RM2.20.

nickctk1: how you know the construction site has been gated with Jesselton Quay banner around.?

Reference is made to the Company’s announcements dated 25 April 2014 and 23 May 2014 in relation to the Proposals (“Announcements”).


Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Announcements.



On behalf of the Board of Directors of Bonia, AmInvestment Bank Berhad wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) had vide their letter dated 30 May 2014 (which was received on 2 June 2014) approved the following:-



(i) listing and quotation of up to 201,571,850 Bonus Shares to be issued pursuant to the Proposed Bonus Issue; and

(ii) Proposed Share Split.

The approval granted by Bursa Securities for the Proposals is subject to, amongst others, the following condition:-

(i) Shareholders' approval for the Proposed Bonus Issue, Proposed Share Split and Proposed M&A Amendment.

This announcement is dated 2 June 2014.

Investment Highlights (AM RESEARCH)
• We reaffirm our BUY recommendation on Bonia
Corporation (BON) with a higher fair value of RM6.20/share
(vs. RM5.40/share previously) as we roll forward our
valuation base year to CY15F. This is pegged to a PE
multiple of 15x over its CY15F earnings.
• Excluding the one-off items, BON delivered a 3QFY14 core
net profit of RM15mil, bringing 9MFY14 core net profit to
RM48mil.
• The results are within our and consensus’ estimates,
accounting for 76% and 78%, respectively.
• 3QFY14’s same-store-sales growth (SSSG) remained
healthy – Malaysia (+6%), Singapore (-3%), Indonesia
(+56%), boutique (+6%), and counter (+6%).
• On a 9M basis, core earnings rose by 33% YoY on the back
of higher sales generated (+10% YoY).
• Furthermore, this was also attributed to better control of
operating expenses resulting from a less aggressive
expansion overseas. For this financial year, 3 and 2
boutiques were opened in Indonesia and Vietnam,
respectively, compared to 4 and 10 that were opened in the
same two countries in 9MFY13.
• BON’s aggressive expansion into Indonesia and Vietnam
showed improvement - contributing 11% and 9% to
revenue, respectively. Malaysia continues to be the
revenue driver, at 65%, followed by Singapore at 27%.

Growth story continues
Bonia’s 9MFY14 net profit was in line with expectations, accounting for 75% of
our and 72% of consensus full-year forecasts. Better sales from Jeco, and
growth in Indonesia and Vietnam contributed positively to overall group
earnings. We make no changes to our EPS forecasts and reiterate our Add
recommendation and target price, based on 19.3x CY15 P/E, applying a 20%
premium to our target market P/E of 16.1x in view of Bonia’s much higher
projected growth rate. BY CIMB

Bonia’s 9MFY14 earnings jumped 28.1% yoy on the back of a 10.1% yoy revenue
growth. The sales growth was mainly driven by Jeco and other licensed brands,
contributing 30.0% and 20.1%, respectively, to total increase in revenue. Jeco
sales were lifted by stronger exports to Indonesia and boutique sales in
Singapore and Malaysia, while the opening of Renoma and Santa Barbara Polo
& Racquet Club boutiques contributed to the licensed brands’ revenue growth.
Geographically, Bonia’s expansion into Indonesian and Vietnam continues to
bear fruit, with sales from these two countries contributing 11% and 9% of
respectively to the group’s total increase in revenue.

Bonus issue and share split to boost liquidity
We anticipate Bonia’s proposed one-for-one bonus issue and subsequently a
one-into-two share split exercise, which are expected to be completed by
3QCY14, to significantly boost the stock’s trading liquidity and marketability
upon completion. Theoretically, the proposals will quadruple the number of
existing Bonia shares, and the share price should be adjusted and trade at 25%
of the pre-exercise price. We believe the increased number of shares and the
relatively more affordable share price would generate more interest among
investors towards the company, especially among retail investors, and lead to a
higher valuation for the stock, helping it to move closer to our target price.

BONUS ISSUE WAS A SURPISE. BASED ON HISTRORICAL, AFTER BONUS ISSUE, SHARE PRICE MOVE UPTREND. E.G. 29 OCTOBER 2013, AFTER BONUS AND ISSUE AT RM1.22. AFTER 6 MONTHS, RM2.24 ON 7 APRIL 2014.

The Board of Directors ("the Board") of SBC Corporation Berhad ("the Company") wishes to announce the Dividend Policy of the Company as follows -

"The Company intends to pay dividend of at least 20% of its consolidated profits after taxation attributable to shareholders in respect of any financial year. The Board reserves the discretion to pay higher dividend as it deems appropriate".

This announcement is dated 18 February 2014.

DIVIDEND DECLARED FOR RM0.0475, REPRESENT 2.2% YIELD.

IF YOU BUY NOW AT RM2.12 PER SHARE, ASSUME 35% INCREASE PROFIT IN FYE2015, DIVIDEND YIELD WILL BE 3.0%, SAME AS FD INTEREST RATE IN LOCAL BANKS BUT WITH POTENTIAL CAPITAL APPRECIATION.

Full Year Basic earnings per share : RM0.335.

P/E Ratio : 6.3 ONLY.

DEEPLY UNDER VALUE!

Quarterly rpt on consolidated results for the financial period ended 31/3/2014.

Profit increase by 33.8% as compare to previous financial year.

SBC CORPORATION BERHAD (“SBC” OR THE “COMPANY”)

(I) PROPOSED BONUS ISSUE;

(II) PROPOSED IASC; AND

(III) PROPOSED AMENDMENTS

(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

TOMORROW SUSPEND UNTIL FURTHER NOTICE

SBC Corporation was recently featured as one of RHB’s 30 Small Cap
Jewels. Earnings over the next 5-8 years will likely be underpinned by
its project in Jesselton Quay, Sabah (GDV: MYR1.8bn). Its projects in
Kiara East (GDV: MYR1.5bn) and Batang Kali (GDV: MYR500m) should
also provide the company with steady earnings growth. We value SBC
Corp at MYR2.98, based on a 30% discount to its RNAV of MYR4.26.

Earnings outlook. SBC Corp’s 3QFY14 earnings were strong, with 9M net profit surging 54.4% y-o-y, driven by progress billings from The Peak Soho in Kota Kinabalu and the Dex Suites in Kiara East. We expect similar results for 4QFY14, attributed to higher contributions from these two projects. The company will likely maintain its growth momentum going into FY15, underpinned by contributions from Kiara East, Batang Kali as well as JQ’s possible maiden contribution.
SBC Corp announced on 18 Feb 2014 that going forward, it will be paying out at least 20% of its net profit as dividends every financial year. As such, we estimate DPS of 6.3 sen for FY14 and 5.4 sen for FY15, translating into a decent yield of 2-3%.

BETTER THAN PUT FD.

Other projects. SBC Corp’s other sizeable projects include a landed affordable housing development project in Batang Kali, which has a remaining landbank of 1,000 acres and carries a future GDV of MYR500m. The units are priced at MYR200,000 to MYR400,000 each, depending on the size. The new phases have been fully sold. We believe that the Batang Kali project should provide the company with steady income growth even if its higher-end products are affected by property-cooling measures. SBC Corp also has smaller projects such as Cantonment Exchange in Jalan Ipoh, Kuala Lumpur (GDV: MYR200m) and 20 acres of undeveloped landbank in Kuantan.

Kiara East – SBC Corp’s jewel in the Klang Valley. Kiara East is SBC Corp’s flagship development in the Klang Valley. The project, which spans 20 acres, has a total remaining GDV of MYR1.5bn. The site is about five minutes from Mont Kiara and 15 minutes from the Kuala Lumpur city centre. It is also adjacent to the Batu Metropolitan Park and Taman Wahyu KTM station, and is accessible via major highways such as the Duta-Ulu Kelang Expressway (DUKE), New Klang Valley Expressway (NKVE) and Middle Ring Road 2 (MRR2).
Reputable developers such as Eco World and Mah Sing have also recently ventured into the area at higher land costs. SBC Corp’s development comprises condo-style suites, retail lots and park front villas. In FY14, it launched two new projects with a total GDV of about MYR544m, namely: i) the Dex Suites (GDV: MYR544m), and ii) some retail space worth MYR200m. The take-up rates have been relatively strong, with Dex Tower A being fully taken up, while Dex Tower B (launched in February) saw a decent take-up rate of 30%.

Medium panic selling due to Industronics Bhd, VisDynamics Holdings Bhd and MNC Wireless Bhd

fish fish now

?

Fund selling fast...

KUALA LUMPUR: Just over a year after expanding its brand portfolio to include rights for Braun Büffel in the Asia-Pacific, homegrown fashion label Bonia Corp Bhd is taking a bigger step abroad by taking a 49% stake in the Germany-based leather goods maker in a deal worth €3.2 million (RM13.1 million).

In an announcement to Bursa Malaysia, Bonia said its 70%-owned subsidiary Jeco Pte Ltd has signed a sales and purchase agreement with Christiane Brunk for the purchase of a 49% equity stake in Braun Verwaltungs-GmbH and Braun GmbH & Co KG (Braun KG) for €980,000 cash.

Brunk, who is the great granddaughter of Braun Büffel founder Johann Braun, is the director and sole shareholder of the companies.

Jeco also entered into a loan receivable sale agreement with several parties to restructure the total debts of €3.15 million owed by Braun KG to Sparkasse Rhein-Nahe, which will be settled through a lump sum of €2.2 million.

Other parties in the loan agreement are Brunk, Braun Büffel Retail GmbH & Co KG, Braun Büffel Retail Management GmbH and Braun Büffel Suisse GmbH.

Jeco also entered into a trademark purchase and transfer agreement with Büffel Markenverwertungs GmbH & KG, Karl-Heinz Braun and Frau Liesel Braun for the purpose of acquiring the Braun Büffel trademark for €20,000 cash.

The entire deal will be funded by internally generated funds.

Essentially the agreements will allow Jeco, which is the brand representative and owns the trademark for Braun Büffel in Asia-Pacific up until June 30, 2034, an opportunity to work closer with Braun KG to help build the brand in Europe, Asia as well as other parts of the world, according to the announcement. Under the agreement, Jeco is now the rights owner of the Braun Büffel trademark in the UAE, the US and Canada.

“The company believes that with the long established brand of Braun Büffel, the Bonia group will be able to further grow its market share and recognition in the Asia-Pacific region and the rest of the world.

“The acquisition is expected to widen earnings base of the Bonia group and this will eventually enhance the company’s shareholders value,” said Bonia.

KUALA LUMPUR: Just over a year after expanding its brand portfolio to include rights for Braun Büffel in the Asia-Pacific, homegrown fashion label Bonia Corp Bhd is taking a bigger step abroad by taking a 49% stake in the Germany-based leather goods maker in a deal worth €3.2 million (RM13.1 million).

In an announcement to Bursa Malaysia, Bonia said its 70%-owned subsidiary Jeco Pte Ltd has signed a sales and purchase agreement with Christiane Brunk for the purchase of a 49% equity stake in Braun Verwaltungs-GmbH and Braun GmbH & Co KG (Braun KG) for €980,000 cash.

Brunk, who is the great granddaughter of Braun Büffel founder Johann Braun, is the director and sole shareholder of the companies.

Jeco also entered into a loan receivable sale agreement with several parties to restructure the total debts of €3.15 million owed by Braun KG to Sparkasse Rhein-Nahe, which will be settled through a lump sum of €2.2 million.

Other parties in the loan agreement are Brunk, Braun Büffel Retail GmbH & Co KG, Braun Büffel Retail Management GmbH and Braun Büffel Suisse GmbH.

Jeco also entered into a trademark purchase and transfer agreement with Büffel Markenverwertungs GmbH & KG, Karl-Heinz Braun and Frau Liesel Braun for the purpose of acquiring the Braun Büffel trademark for €20,000 cash.

The entire deal will be funded by internally generated funds.

Essentially the agreements will allow Jeco, which is the brand representative and owns the trademark for Braun Büffel in Asia-Pacific up until June 30, 2034, an opportunity to work closer with Braun KG to help build the brand in Europe, Asia as well as other parts of the world, according to the announcement. Under the agreement, Jeco is now the rights owner of the Braun Büffel trademark in the UAE, the US and Canada.

“The company believes that with the long established brand of Braun Büffel, the Bonia group will be able to further grow its market share and recognition in the Asia-Pacific region and the rest of the world.

“The acquisition is expected to widen earnings base of the Bonia group and this will eventually enhance the company’s shareholders value,” said Bonia.

Braun Buffel, the German designer and maker of premium leather handbags and
accessories with more than 100 years of tradition, a brand will continue boost Bonia revenue.

Bonis manafucturing raw material purchase already paying 10% Sales Tax. GST will replace ST and only 6%, thus it will not affect their selling price, but might able to reduce pricing.