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Have you finished reading the report, F@@L, Restia? What do you think? There is one thing that I am perplexed after going through it. It is known that the performance is seasonal and Q2 was a low season. The timing of one of its corporate action is probably the non-recurring / one-off contributing cause to the loss rather than seasonality.
spot on, AC :) RM34M forex loss due to full settlement of the HK$ denominated bank loans pulled down the operating profit to RM65.9M. This is where I am perplexed of the timing for the execution of the full settlement of the loan.
170,175 support zone valid,老板很孤寒不舍得洗破170的哈哈哈哈哈……….. 恭喜有买的,大家赚钱最开心哈哈哈哈哈………. 170买180出都超5%了哈哈哈………传统公司有一优点我喜欢的,就是产业都是几十年前买的,现在很值钱的,就算拿票斗长命也安心……又不是买三角以上哈哈哈哈哈…….闪人
China's latest economic measures seems a bit aggressive; particularly addressing the sluggish property sector and liquidity support for China stocks; strong support for equity market if you will. Will there be more measures in coming months to increase the consumer consumption/spending which is their main GDP contributor?
priced in low seasonality in Q3. A better than expected performance in Q3 will send it up north all the way to Q4'24 and Q1'25 which will be a seasonally strong quarters - festive seasons.
coming budget will probably be focusing on lower income groups, B40 and civil servant groups; cash handouts / bonuses / subsidies. Hopefully will drive higher spending during festive seasons in Q1'25.
not a surprise for PRA to exit the watchlist as Malaysia ops has been reporting positive profits for 3 consecutive years now. PRG (China ops) has just reported the first profitable fiscal year in FY23 and we should continue to see 2nd consecutive profitable fiscal year in FY24 barring any unforeseen circumstances. It is PHB that has yet to report the first profitable fiscal year due to impairment charges; so near yet so far in FY23 though. While impairment is a non-cash expense, it will drag the net profit down as impairment is considered as "operating expense". On the positive side, impairment will lower down the asset value which in return will reduce the depreciation expense over the longer term; positive impact to profitability. Either sell non profitable China malls to stop impairment or wait for the inflection point where asset value is lower than recoverable amount. It feels like management opting for the latter as we have not seen aggressive closure of non profitable malls in China yet.