Posted by DickyMe3 > 2022-03-25 20:49 | Report Abuse

With the bigger thieves making a comeback, which investor with a right mind will pour their hard earned money into this blackhole?

Posted by DickyMe3 > 2022-03-25 20:50 | Report Abuse

Only get rich quick gamblers comes to mind, that is if you're lucky.

Posted by i3lurker > 2022-03-25 21:02 | Report Abuse

wow!
it is really bad advice
operating cash is inflow 11.1 million whereas compulsory cash payments outflow is 16 million.
and someone says it is not going bankrupt anytime soon?
the blackhole was made up by additional borrowings.

How long can you continue borrowing?
This question was already raised by DannyArcher who found out the truth earlier

=> There is NO need to lie to get people to buy shares to rescue you. Its only money

Posted by DannyArcher > 2022-03-25 21:05 | Report Abuse

@bad_advice

Actually, from what I read their turnover rate for their goods in mynews was kind of lousy, even before CU. Not sure if they are good paymaster to their suppliers or not.

Posted by i3lurker > 2022-03-25 21:06 | Report Abuse

a very truthful statement
This Quarter blackhole was covered up by additional borrowings.
and the next Quarter too
and the next Quarter too
and the next Quarter too
and the next Quarter too
and the next Quarter too
and the next Quarter too
and the next Quarter too
repeat ad infinitum until bank says NO WAY

DannyArcher

This coming quarter will lose money again, just how much they are losing. I dont understand why they did not do PP when their stock price was high, or maybe RI. They cannot continue to borrow forever.

1 week ago

Posted by bad_advice > 2022-03-25 21:20 | Report Abuse

@DannyArcher their payables turns are a bit over 1 month so on average they are paying in time. But you are right about the turnover. About 5.7m in wastage and inventory write-off so about 6% of COGS. SEM is at about 0.8% so obv a lot of stock is not getting sold in time.

Posted by i3lurker > 2022-03-25 21:42 | Report Abuse

I am the guy who writes thesis on theory of revolving credits and as such I can smell it a mile away.
its starting to smell rotten....

Posted by DannyArcher > 2022-03-25 22:02 | Report Abuse

I believe they said one of their biggest wastage is ice cream they sold in mynews, obviously nobody is going to mynews and buy ice cream, or their bakery stuff. Now that 711 is moving towards the same FamilyMart concept with 7-Cafe, their wastage will go up too.

mynews should just accept the fact that mynews is a flop, even the name is outdated, and should slowly close it down, or at the very least stop selling ready to eat food in mynews as it is clearly not working.

If they PP at RM1 and can collect RM75m at 10% when market cap was around 750m, they can easily open 100+ news stores, thus solving their FPC underutilized problem. 1 stone kills 2 bird, no need to borrow ( with on going concern of rising interest rate ) and also speed up the opening of more CU stores.

Posted by UPlanet > 2022-03-25 23:27 | Report Abuse

Aiyo, I visited CU few times, really can’t find any interest me to buy!!! No way to compete with family mart or 711.. Can’t understand the directors never did any surveys before brough in to Malaysia? Kimchi is not Malaysia culture here la and most Malaysian don’t really like it like sushi, in old korea, yes! Coz kimchi can keep long periods but absolutely not delicious!!! CU close shop very soon!!! The faster CU close down, the better for Mynews!!! A failure project!!!

Posted by i3lurker > 2022-03-26 13:16 | Report Abuse

smart people dun buy ice cream nowadays
why?
cheap ice cream nowadays is just palm oil, sugar, cheap colouring, cheap flavour and soap (aka emulsifiers). Its foooking bad for your health

=> who wants to eat soap?

Occasionally I go to places like Haagen Daz for ice cream since its genuine milk cream and not palm oil.

Posted by i3lurker > 2022-03-26 13:22 | Report Abuse

anybody feel like ice cream
just head to your kitchen
and take 2 big tablespoon of Knife cooking oil.
Thats very good for your health, no soap at all.

Posted by Sslee > 2022-03-26 15:09 | Report Abuse

Oil and water do not mix.
Mono- and diglycerides are emulsifiers, which means they help oil and water to blend. As a result, they're commonly used as food additives. Small quantities are often added to packaged and frozen foods to improve texture and stability, prevent oil from separating, and extend shelf life.

Soaps are surfactants, reaction products from NAOH with oil or fatty acid. The sodium ion make sodium soaps oil and water soluble.
When used for cleaning, soap solubilizes particles and grime, which can then be separated from the article being cleaned. In hand washing, as a surfactant, when lathered with a little water, soap kills microorganisms by disorganizing their membrane lipid bilayer and denaturing their proteins. It also emulsifies oils, enabling them to be carried away by running water.

Posted by i3lurker > 2022-03-26 16:28 | Report Abuse

here is how to STOP consumption of vegetable oils like palm oil

https://www.doctorshealthpress.com/food-and-nutrition-articles/substitutes-for-vegetable-oil/

Posted by i3lurker > 2022-03-26 16:30 | Report Abuse

here is why you should not take ice cream with palm oil in it.

https://www.doctorshealthpress.com/food-and-nutrition-articles/health-risks-of-palm-oil/

Posted by hoot9e996 > 2022-03-26 16:48 | Report Abuse

the business model isnt doing well anyway.
nothing in mynews sells that people want.
if 7/11 open nearby GG the shop lose money everyday just operating

Posted by i3lurker > 2022-03-26 17:14 | Report Abuse

MyNews was supposed to copy 7Eleven but then Boss ego made it reduce SKU and only stock young people items. Died as a result.

7Eleven is still the best and the local Malaysian staff are very friendly.
Some of their staff have worked there for more than 20 years.

I find MyNews Bangla staff to be very hostile. I always just walk past.

Posted by newbie8080 > 2022-04-01 15:20 | Report Abuse

https://www.theedgemarkets.com/article/mynews-redesignates-retail-units-ceo-consultant-no-reasons-provided-change

Posted by DannyArcher > 2022-04-01 19:58 | Report Abuse

hmm.... good news or bad news?

Posted by DannyArcher > 2022-04-01 21:12 | Report Abuse

the problem with mynews is the foundation. it started off trying to copy 711, then came FM, it knew FM is eating them and thus they went big with the FPC. I never like companies that goes big into something at lightning speed. One small mistake during the early stage will snowball into something massive which will be very hard to rectify in later stage. This can be seen with the big FPC strategy.

Now they are moving CU at lightning speed too. I wont be surprised next qr will be the same or bad.

Have anyone seen the interview FIRL done with them? Basically CU lets the manage be responsible for the outlet P&L. If I am the manager, and P&L is under my responsibility, I will continue to sell expired food, reheat food that was not sold yesterday, dont keep too much food to avoid losses, give smaller portion of something to max profit....

In the end, every out will be different, no consistency. These are managers, not businessman, expecting them to be a mini businessman while paying them a wage is a recipe for disaster.

mynews supervalue... this one, inside got a mini convenient store... they just cannot let the mynews name die, their baby. the sooner they realize the mynews brand is dead, the better it is.

Posted by i3lurker > 2022-04-01 22:41 | Report Abuse

is she on maternity leave?

Posted by DannyArcher > 2022-04-01 23:26 | Report Abuse

51 years old on maternity leave is like my 90 years old grandma doing break dance... possible but not probable.

Posted by i3lurker > 2022-04-01 23:35 | Report Abuse

its so weird to redesignate your CEO as consultant for just 5 months.

another April Fool Joke at shareholders' expense

Posted by DannyArcher > 2022-04-02 00:22 | Report Abuse

well, it says consultant for 5 months, never mention if she will be go back as CEO after 5 months. Maybe 5 months to guide the new CEO and then leave for good. if that is the case, it must be something personal, probably health related. which is good news for mynews.

Posted by Nepo > 2022-04-07 11:09 | Report Abuse

Bad counter
Sell

Posted by hoot9e996 > 2022-04-07 11:12 | Report Abuse

more like bad company business model

Posted by fhis > 2022-04-12 15:29 | Report Abuse

looks like a rebound is coming...

Posted by DannyArcher > 2022-04-18 14:52 | Report Abuse

what is going on?

Posted by doll > 2022-04-20 11:37 | Report Abuse

how old already still maternity leave? looking at it, it's a job downgrade & consultant's package will be much lower than CEO's and of course less authority call to any decision making action moving onwards. Or maybe tendered resignation or management terminating her soon

Posted by DickyMe > 2022-04-21 19:23 |

Post removed.Why?

Posted by DannyArcher > 2022-04-24 10:36 | Report Abuse

how low can it go?

Posted by profitgrow > 2022-04-26 11:50 | Report Abuse

can go how low?

Posted by DickyMe > 2022-04-27 17:31 |

Post removed.Why?

Posted by MiaoMiao7 > 2022-04-27 19:23 | Report Abuse

Rights Issue or PP coming

Posted by mananghunter > 2022-04-28 12:26 | Report Abuse

Mynews recently don't have news

Posted by doll > 2022-04-28 15:22 | Report Abuse

got news. mr isaac lim fung sern is leaving the company soon. guess this mr lim must be the finance or investor relations head.

how low? below 50c la

Posted by BursaVulture > 2022-05-09 20:50 | Report Abuse

mynews got no news....

Posted by apple168 > 2022-05-19 14:06 | Report Abuse

Poorly managed company that designed to fail!

Posted by Thomask > 2022-05-26 14:59 | Report Abuse

0.6 now

Posted by InsiderShark > 2022-05-27 10:20 | Report Abuse

C U @ RM0.30 ?

Posted by DickyMe3 > 2022-06-08 15:06 |

Post removed.Why?

Posted by apple168 > 2022-06-15 07:29 | Report Abuse

We heard from our clients that they losing huge money from listening to someone who is active in FB/ YouTube. Anyone facing the same issue, please report to SC!

Posted by apple168 > 2022-06-20 13:13 |

Post removed.Why?

Posted by PunTatBerSiul > 2022-06-21 17:50 |

Post removed.Why?

Posted by PunTatBerSiul > 2022-06-24 18:12 | Report Abuse

Nyeeeehhhhh..Nyeeeeeehhhhh...nyeh aaanyeh
Tak..Tak....Tak untung!

Posted by DannyArcher > 2022-06-27 16:56 | Report Abuse

any news for mynews?

Posted by Fabien _the efficient capital allocator > 2022-06-27 18:53 | Report Abuse

9 consecutive quarters of losses. gruesome

Posted by DannyArcher > 2022-06-27 19:22 | Report Abuse

my view is still the same, they should close down mynews and focus on CU. I saw a photo where they open a mynews side by side with a CU, what in the world are they thinking? somemore manager is responsible for the profit and loss of an outlet? if i am the manager, i will resell yesterday's food, say if the corndog is not sold for 3 days, i will continue to sell, who cares about food freshness, as long as I get my promotion and bonus.

ini macam tak boleh lah...

Posted by Thorman > 2022-06-27 23:12 | Report Abuse

When the business plan is like Alibaba, what you expect.
Franchisees burn, stockist happy.

Posted by Thorman > 2022-06-27 23:12 |

Post removed.Why?

Posted by doll > 2022-06-28 12:34 | Report Abuse

They want market share. Neva buy from mynews then buy from CU lor. and profit sharing from CU wont be so abundant, cause the Company is merely a franchisor. All time low today. Closing should be below 50c already. EPF slowly disposing this very poorly managed Company