KLSE (MYR): CCK (7035)
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Last Price
1.07
Today's Change
+0.02 (1.90%)
Day's Change
1.05 - 1.08
Trading Volume
2,193,500
2024-04-18
2024-04-18
2024-04-18
2024-04-18
2024-04-18
2024-04-18
Hunter70
81 posts
Posted by Hunter70 > 2021-02-21 01:20 | Report Abuse
As for Kuching I think their location isn't ideal but in KK their business is very good. I contribute to a few factors. The target market for CCK Local is on premium side as compare to CCK Freshmart which caters to general market. For KK is more exposed to international travellers/higher cost of livining, the spending behaviour is slightly different. Their KK outlet is located inside a shopping mall which used to occupy by Giants (consistently being top 3 best performance outlet in Sabah).
The neighbourhood is more affluence and currently Jesselton Twintowers which is located next to the shopping mall will definitely increase the number of footfalls which I think they will do well. The mall has just undergone phase one of refurbishment and a lot more exciting tenants are coming in.
As for Kuching, the location is quite far out and the outlet is located at commercial development which is not even fully occupied. I suspected the development is somehow related to the company if you dig deep enough. It is just not making sense for me that they chose such a location, there are plenty of good developments which are unoccupied in Kuching such as Gala City or Ibraco's Tabuan development.
Overall, I think the contribution is not too significant yet. If I were in the management, I will probably follow the footstep of Focus Point venturing into Bakery and team up with some convenience stores. However I do think that they may propose some form of bonus issues once their share price hit certain pricing points. I am definitely have great confidence in this company.