Wow, good to know that China GDP is down 10% and the dire situation in China. Luckily the Shanghai index dropped 1% only for today, still can cut loss. I thought will at least 10% since the situation is so bad.
Good good, retailers faster take profit before 2Q result it out. Simple calculation of subsidiaries Parkson Retail Asia and Parkson Retail Group results shows total of RM35mln net profit in 2Q. Expecting RM25mln net profit due to expenses on a group level. Annualising it will be RM100mln. Parkson is trading at 3x PE now, please follow i3lurker advice to sell before it surges again.
@JohnD0ugh selective comparison and misrepresentation of performance, how low ethically can you go? Comparing ICAP with Amazon.com only for the period 1 Jul 2020 until 22 Dec 2022? As a Guru who kept boasting about "long-term value investing", why not compare it since inception of ICAP in 2005? Should be long-term enough. Comparing ICAP with literally no dividend and Maybank with 6% dividend yield? Amazing way to deceive.
According to John D0ugh, "it was clear that ICAP's sole institutional investor sold all its shares in Oct 2008 or thereabouts and pushed it into a discount." However, he also mentioned that "the more ICAP shares are in the hands of institutional investors, the worse the discount gets." So which is true? Discount gets worse when institutional investors sell their shares? or gets worse when institutional investors accumulate shares?
@dumbMoney 75% votes for liquidation is unthinkable, guess the fund will unlikely liquidate in the foreseeable future. Just hold the stock and pass it on to your great grandchildren since this is an ultra-long term fund. The share price should double in 100 years haha
The net profit of acquired tech company in FY21 is RM20 million. With 10x PE (conservative for a tech company), market cap should be around RM200 million, meaning the target price theoretically around RM0.49. Even if you put a 20% discount it will be RM0.36, or market cap of RM160. Market cap now is already RM136 million, let's see what happens next week.
Earnings should improve in the next result. Raw material prices have peaked and Mexican JV should start to contribute more by next year when health permit is approved for export by the end of this month.