Wednesday, May 29, 2013

So is it so important to own a house for yourself?




This video clip is in Chinese language, the content of video is mostly discuss on why in Asia, we are fee so important to own our house while Swiss house self owning rate is only 15%. May be our government need to learn some housing control policy from them.

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=964637

Friday, May 17, 2013

Parkson Holdings Berhad








In the recent bull run of KLSE, investor may find it harder and harder to get a good stock to invest as most of the blue chip seem trading at their all time high level or in a very high valuation. But during this bull run, we found that Parkson Holdings Berhad (PHB) is in the downtrend for the pass 2 days.

As 85% earning of PHB is come from its Parkson Retail Group Limited (PRG) listed in Hong Kong, the performance of PRG will always reflect on the PHB share price.


Last $3.76 HKD
Change Today -0.35 / -8.52%
Volume 26.0M
As of 4:01 AM 05/16/13 All times are local (Market data is delayed by at least 15 minutes).

Parkson Retail Group Ltd (3368) Snapshot

Open
$4.12
Previous Close
$4.11
Day High
$4.12
Day Low
$3.74
52 Week High
05/29/12 - $8.38
52 Week Low
05/16/13 - $3.74
Market Cap
10.6B
Average Volume 10 Days
7.9M
EPS TTM
$0.30
Shares Outstanding
2.8B
EX-Date
05/21/13
P/E TM
9.8x
Dividend
$0.14
Dividend Yield
5.88%
Current Stock Chart for PARKSON RETAIL GROUP LTD (3368)




Parkson Holdings - PRG’s SSSG suffers 2.8% contraction HOLD
Author: kiasutrader   |   Publish date: Thu, 16 May 11:25 


- We re-affirm our HOLD on Parkson Holdings Bhd (PHB), with an unchanged fair value of RM4.43/share, based on a sum-of-parts valuation for FY14F.

- Parkson Retail Group (PRG) released its 1QFY13 (December) results. Earnings dipped 37% YoY, but grew 27% QoQ. Meanwhile, PHB’s results are scheduled for release on 27 May.

- Gross sales proceeds increased by 2.1% YoY. Concessionaire sales remained the key contributor, accounting for 90% of total merchandise sales. Direct sales contributed the remaining 10%.

- Fashion & Apparel and the Cosmetic & Accessories categories continued to command the bulk of the merchandising mix of 47% and 42%, respectively.

- As expected, same-store-sales growth (SSSG) declined 2.8% YoY vs. 4QFY12’s +0.4%. The merchandise gross margin further compressed by 0.7ppt YoY to 17.3% in 1QFY13 vs. 4QY12’s 18.1%.

- This, we believe is caused by:- (1) Slowdown in China’s economic growth, which in turn affected consumer sentiment; and (2) Intensifying competition within the retail landscape, with competitors such as Golden Eagle and Intime.
- On the expansion front, stores in Panzhihua, Datong and Chongqing 4 are targeted to be opened in 2QCY13. So far, only Hefei 3 has been opened - one out of the eight pipelines of stores for CY13.
- In our earnings forecast for PHB (year end June), we continue to assume a contraction of SSSG of 2% for PRG. By historical standard, PRG contributes nearly 75% to PHB’s EBIT. PHB’s earnings outlook continues to be unexciting as China remains the dampener in the near term. We opine that any recovery in PRG’s SSSG will remain bumpy and any rebound would be at a gradual pace.
- Trading at 14x PE of FY14F, valuation appears overvalued in light of PHB’s lacklustre earnings growth, prompted by PRG’s decelerating SSSG. PHB is trading at a 57% discount to local peer, Aeon Co (M) Bhd (AEON Mk Equity, Non-rated), that is trading at 22x consensus earnings.
Source: AmeSecurities

Wednesday, May 1, 2013

HB Global Limited




















HB Global Limited (formerly known as Sozo Global Limited), one of the China company that listed in Bursa Malaysia, have an announcement as below on 29th April 2013,


OTHERS HB GLOBAL LIMITED (formerly known as Sozo Global Limited) (“HB” or “the Company”) - Delay in Submission of Audited Financial Statements for the Financial Year Ended 31 December 2012

HB GLOBAL LIMITED

TypeAnnouncement
SubjectOTHERS
DescriptionHB GLOBAL LIMITED (formerly known as Sozo Global Limited) (“HB” or “the Company”)
- Delay in Submission of Audited Financial Statements for the Financial Year Ended 31 December 2012

Pursuant to Paragraph 9.23(2) of the Listing Requirements of Bursa Malaysia Securities Berhad (“LR”), HB Global Limited (formerly known as Sozo Global Limited) (“HB” or “the Company”) is required to furnish its annual audited financial statements for the financial year ended 31 December 2012 together with the auditors’ and directors’ reports (“AFS 2012”) to Bursa Malaysia Securities Berhad (“Bursa Securities”) for public release within a period not exceeding four (4) months from the close of the financial year (“Relevant Timeframe”) which falls on 30 April 2013.

The Board of Directors of HB wishes to announce that the issuance of AFS 2012 will be delayed as the audit is currently still in progress and the Company wishes to provide more time for the external auditors to complete the AFS 2012. The Company is working with the external auditors to finalise the audit expeditiously.

The Company expects to submit its AFS 2012 within five (5) market days from the date of this announcement.

Pursuant to Paragraph 9.28(5) of the LR, if the Company fails to issue the outstanding AFS 2012 within five (5) market days after the expiry of the Relevant Timeframes (the last day of this five (5) market day period is referred to as “Suspension Deadline”), in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend trading in the securities of the Company. The suspension shall be effected on the next market day after the Suspension Deadline and will be lifted on the market day following the issuance of the outstanding AFS 2012 unless otherwise determined by Bursa Securities.

Pursuant to Paragraph 9.28(6) of the LR, if the Company fails to issue the outstanding AFS 2012 within six (6) months from the expiry of the Relevant Timeframes, in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall commence de-listing procedures against the Company.