Almost 7x oversubscribed during io at rm1.10 previously
Bison Consolidated's IPO shares oversubscribed by the ... 16 Mar 2016 — KUALA LUMPUR: MyNEWS.com chain store operator Bison Consolidated Bhd's initial public offering ... Imagethemalaysianreserve.com › bison-ip... Bison IPO oversubscribed - The Malaysian Reserve 3 Apr 2017 — Bison Consolidated Bhd's initial public offering (IPO) of 15.5 million shares was oversubscribed by 6.94 ...
These foreign funds dumped aeon but invested more n more in mynews... change in demography + pandemic + lesser disposable income = potential for mynews :)
AEON Shareholding Changes
Date of change Shares Director/ Substantial Shareholder 28 Oct 2020 Disposed 516,300 Standard Life Aberdeen Plc And Its Subsidiaries 28 Oct 2020 Disposed 516,300 Aberdeen Asset Management Plc 27 Oct 2020 Disposed 267,700 Aberdeen Asset Management Plc 27 Oct 2020 Disposed 267,700 Standard Life Aberdeen Plc And Its Subsidiaries 26 Oct 2020 Disposed 431,200 Aberdeen Asset Management Plc 26 Oct 2020 Disposed 431,200 Standard Life Aberdeen Plc And Its Subsidiaries 23 Oct 2020 Disposed 135,500 Standard Life Aberdeen Plc And Its Subsidiaries 23 Oct 2020 Disposed 135,500 Aberdeen Asset Management Plc 22 Oct 2020 Disposed 3,133,800 Standard Life Aberdeen Plc And Its Subsidiaries 22 Oct 2020 Disposed 3,133,800 Aberdeen Asset
Date of change Shares Director/ Substantial Shareholder 20 Oct 2020 Acquired 632,900 Employees Provident Fund Board 20 Oct 2020 Acquired 1,080,300 Standard Life Aberdeen Plc And Its Subsidiaries ("together "the Group") 20 Oct 2020 Acquired 1,080,300 Aberdeen Asset Management Plc 20 Oct 2020 Acquired 1,080,300 Aberdeen Standard Investments (malaysia) Sdn Bhd 19 Oct 2020 Acquired 111,200 Employees Provident Fund Board 19 Oct 2020 Acquired 189,900 Standard Life Aberdeen Plc And Its Subsidiaries ("together "the Group") 19 Oct 2020 Acquired 189,900 Aberdeen Asset Management Plc 19 Oct 2020 Acquired 189,900 Aberdeen Standard Investments (malaysia) Sdn Bhd 15 Oct 2020 Acquired 585,900 Employees Provident Fund Board 15 Oct 2020 Acquired 1,000,000 Aberdeen Asset Management Plc
15 Oct 2020 Acquired 1,000,000 Standard Life Aberdeen Plc And Its Subsidiaries ("together "the Group") 15 Oct 2020 Acquired 1,000,000 Aberdeen Standard Investments (malaysia) Sdn Bhd 14 Oct 2020 Acquired 94,000 Employees Provident Fund Board 14 Oct 2020 Acquired 160,500 Aberdeen Asset Management Plc 14 Oct 2020 Acquired 160,500 Standard Life Aberdeen Plc And Its Subsidiaries ("together "the Group") 14 Oct 2020 Acquired 160,500 Aberdeen Standard Investments (malaysia) Sdn Bhd 13 Oct 2020 Acquired 1,429,000 Employees Provident Fund Board 13 Oct 2020 Acquired 34,509,000 Standard Life Aberdeen Plc And Its Subsidiaries (together "the Group") 13 Oct 2020 Acquired 34,509,000 Aberdeen Asset Management Plc 13 Oct 2020 Acquired 34,509,000 Aberdeen Standard Investments (malaysia) Sdn Bhd
the blue chip lower liners like mynews with EPF, foreign funds as shareholder will undergo a consolidation with any weakness to be supported by the improved trading liquidity with investors continuing their quest to hunt for higher yields.
Investment Highlights We maintain our HOLD call on Mynews Holdings (Mynews) with a slightly higher fair value of RM0.62 (previously RM0.60). Our valuation is based on 21x FY21F EPS, which is at a discount of the average historical PE of 29x to reflect the weak prospect arising from the Covid-19 pandemic. Mynews has announced that its wholly-owned subsidiary MYCU Retail Sdn Bhd has executed a licensing agreement with BGF Retail Co Ltd (BGF). We think that the new venture bodes well for the group in the long term as it is expected to help improve the capacity utilisation of Mynews’ food processing centre (FPC). However, we believe the full-blown positive effect will only be felt from FY22F onwards as economies recover from the Covid-19 impact. Moving forward, we think Mynews’ 4QFY20 earnings performance will be negatively impacted by the CMCO (conditional MCO) in Selangor, KL and Putrajaya from 14 to 27 October 2020. We believe this will further drive down its FPC utilisation rate in the near future. We expect earnings recovery to come in from FY21F onwards with a PATAMI of RM20mil. We have assumed a higher number of store openings of 140 (vs. 90 previously) as well as a recovery in sales and margins in FY21F. We have lowered earnings estimates for FY20E to a net loss of RM0.3mil (net profit of RM2.9mil previously) but raised our earnings estimates for FY21F and FY22F by 2% and 8% respectively. The key takeaways from the special investors briefing call are as follows:
BGF is South Korea's biggest convenience store operator and owner of the convenience store brand CU. CU is one of the leading convenience store brands with more than 15,000 stores in South Korea.
The licence is for operating and sub-franchising of CU outlets in Malaysia for a duration of 10 years with an additional renewal term of 10 years.
By adding CU to the existing retail brands namely, Mynews, WH Smith and Mynews SuperValue, the group is offering Malaysians a new choice and shopping experience from South Korea.
Mynews targets to open 30–50 stores in 2021 starting from early 2021. This is on top of the initial plan of 100 new Mynews stores in 2021F.
The addition of CU will open up new growth opportunities and enhance the group's capabilities to meet consumers' demand. It is expected to increase the utilisation of the group's FPC.
Mynews plans to open up around 500 CU stores in five years. The capex for CU stores will be around RM400K per store, roughly 10% cheaper compared with that of Mynews’ own stores. The group has allocated around RM40mil for this new venture in the next two years.
The group is aiming for a payback period of less than two years for the new CU stores (lower than the payback of roughly three years for Mynews stores with Maru Kafe).
The group is not expecting the new CU stores to cannibalize Mynews’ stores as they cater to different target markets. The CU store will focus more on F&B due to its exclusive Korean food offerings. The basket size for a CU store is expected to be more than RM10, higher than that of Mynews stores’ pre-Covid-19 level of RM7.
The group expects the FPC to reach its breakeven point of 70% by end-2021F. Currently, the FPC is running at a utilisation rate of 33% due to the negative impact of Covid-19 pandemic. Source: AmInvest Research - 13 Oct 2020
When the first CU store opens, I will visit. Then I will visit the 2nd and 3rd CU store. If it is good and respond is good. Maybe MyNews found the right formula and it is time to sell some QL and put some in MyNews.
Coming quarter result quit bad, abit worst than previous quarter. Definitely it is a recovery stock, but not a good timing to buy now but after quarter.
CU is planning to open 500 stores by 2026 with its first stores set to open in 2021, after reaching a partnership with local convenience store company MyNews Holdings Bhd. The group will be looking at opening 30 to 50 CU stores first to monitor how they perform.
In 1990, FamilyMart officially launched their first store in South Korea, entering the market. The Bogwang FamilyMart Corporation had to give FamilyMart brand a royalty which meant that technically most of the money that FamilyMart made in South Korea was going to Japan. FamilyMart used a lot of their royalty from South Korea for the Takeshima Islands Movement which was a movement that was on Japan's side on the dispute of the Liancourt Rocks.
Therefore in 2012, the CU brand was launched, and over about two years BGF Retail changed the store signs from FamilyMart to CU. However, some store managers refused to change the store sign because they did not want to "restart" with a barely known brand and wanted to keep the FamilyMart sign. However, BGF Retail ended up changing all the signs forcefully, but later added "with FamilyMart" on the sign to get rid of customer confusion. However, CU stores made less profit because many people were not used to the brand. They started making profit, and by 2016 CU was as popular as FamilyMart.
Currently, FamilyMart has no control over CU. The "with FamilyMart" stickers that were on the store signs were taken off, and FamilyMart has completely disappeared from the South Korean market. However, during AFC (Asian Football Confederation) soccer matches, FamilyMart is still advertised even if the match is in South Korea. This is because FamilyMart is a partner of the AFC, and has nothing to do with the former Korean version of Bogwang FamilyMart.
Bogwang FamilyMart changed its name to BGF Retail in 2012 to launch its own convenience store brand, CU. The motive of this move was to establish a Korean style convenience store for the customers. CU stands for "CVS for U." Since 1990, FamilyMart had been dominating the South Korean convenience store market for 22 years. Bogwang Group and FamilyMart signed a contract that stated that by 2014, FamilyMart had to fully exit the South Korean market and cannot relaunch the FamilyMart franchise in both South Korea and North Korea until 2016. However, after FamilyMart's exit in 2014, the brand has not yet relaunched in the Korean peninsula. In April 2019, CU has started a delivery service, and magnified the service to 1000 stores in May
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Victor Yong
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Posted by Victor Yong > 2020-11-12 11:20 | Report Abuse
Almost 7x oversubscribed during io at rm1.10 previously
Bison Consolidated's IPO shares oversubscribed by the ...
16 Mar 2016 — KUALA LUMPUR: MyNEWS.com chain store operator Bison Consolidated Bhd's initial public offering ...
Imagethemalaysianreserve.com › bison-ip...
Bison IPO oversubscribed - The Malaysian Reserve
3 Apr 2017 — Bison Consolidated Bhd's initial public offering (IPO) of 15.5 million shares was oversubscribed by 6.94 ...