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KUALA LUMPUR (June 24): Parkson Holdings Bhd (KL:PARKSON), whose shares have climbed 24.4% since June 19, has a new substantial shareholder in Irelia Management Sdn Bhd.
According to Parkson’s bourse filings on Tuesday, Irelia Management acquired 78.3 million shares or a 6.815% stake in the department store operator via open market transactions between June 20 and 24.
No price tag was disclosed on the shares traded, however, based on respective closing prices on which the shares were traded, the block was valued at RM18.6 million.
Based on a filing with the Companies Commission Malaysia, Irelia Management is wholly owned by NTG Holding Ltd.
NTG Holding is the asset holding company of the NTG Strategy Fund SP offered by private equity and alternative asset management firm AEI Capital Group, according to NTG Holding’s website.
Parkson’s largest shareholder is its chairman and managing KUALA LUMPUR (June 24): Parkson Holdings Bhd (KL:PARKSON), whose shares have climbed 24.4% since June 19, has a new substantial shareholder in Irelia Management Sdn Bhd.
According to Parkson’s bourse filings on Tuesday, Irelia Management acquired 78.3 million shares or a 6.815% stake in the department store operator via open market transactions between June 20 and 24.
No price tag was disclosed on the shares traded, however, based on respective closing prices on which the shares were traded, the block was valued at RM18.6 million.
Based on a filing with the Companies Commission Malaysia, Irelia Management is wholly owned by NTG Holding Ltd.
NTG Holding is the asset holding company of the NTG Strategy Fund SP offered by private equity and alternative asset management firm AEI Capital Group, according to NTG Holding’s website.
Parkson’s largest shareholder is its chairman and managing director Tan Sri Cheng Heng Jem, with a 54.57% stake.
Shares in Parkson ended half a sen or 2% higher at 25.5 sen, valuing the company at RM286.87 million. Year-to-date the stock is up 18.6%.
Sri Cheng Heng Jem, with a 54.57% stake.
Shares in Parkson ended half a sen or 2% higher at 25.5 sen, valuing the company at RM286.87 million. Year-to-date the stock is up 18.6%.
Still wondering what is driving Irelia to increase its stakes to 8%+ and how much influence will they have in strategic decisions of Parkson. Did they push for more aggressive store closure last year?
I was comparing it with AEON and the turnover of PRA. Was hoping the same will be done on PRG but its taking way longer than I expected :( But my position was initiated at pretty low price at 0.135. Been managing it since then.
Thanks, Jackie. Aeon making money from property mgmt instead of retailing and their property mgmt has pretty high margins. Parkson made more money from retailing than property mgmt. Parkson has higher lease liabilities and finance cost related to lease interest compared to Aeon. I was optimistic when PRA started the aggressive closures of non performing stores and was optimistic that lease liabilities and finance cost will go down when PRG starts closing non performing stores.
That's right, Jackie. Hence, Parkson has to close non performing stores in PRG aggressively if they can't earn enough profit to cover the rent aka lease liabilities. Past financing decisions, present liabilities if you will.
and consumer financing is doing well if you look at the latest report; high margins if you will. The lease liabilities will be the one driving the yearly impairment exercise. Hence, we just need to be aware and mindful about it - risk off mode if you will.
it goes back to early 2023 when the price was ranging between 0.12 to 0.155, jackie. My avg back then was 0.135. The reasons were due to exit of Indonesia, Vietnam and some cost savings initiatives carried out in 2022 - restructuring and optimization activities if you will. And the ops margin for PHB was around 12%. My thought back then was - the margins will improve with all these activities and it did went up to as high as 19% over the next few quarters. The margins slowed down in 2024 driven by PRG and climbed up again in 2025 - driven by store rationalization.
One of the new variable that got into the equation last year was Irelia :) I cannot figure out what and why they have acquired so much in PHB. I hope they can apply pressure to the board for aggressive measures - maintain the efficiency while addressing the non performing stores in China.
Just FYI for PHB shareholders here in case you are not aware - Irelia became the substantial shareholder of PRG back in Dec'25 and crossed the 5% mark. And we have seen from the PHB report that PRG closed 5 non performing stores in 2025. It is my wishful thinking that Irelia is applying pressure to the board behind the scene :) Nevertheless, Irelia's aggressive stakes in Parkson is still an unsolved puzzle at this very moment.
Hong Kong, December 23, 2025 — NTG Holding Ltd (“NTG”) today announced that its wholly-owned subsidiary, Irelia Management Sdn Bhd, has acquired approximately 5.01% of the shares of Parkson Retail Group Ltd (Hong Kong Stock Exchange Main Board: 3368 ) through open market transactions, officially becoming one of the company’s major shareholders.
This investment also marks NTG Group's first investment in a Hong Kong-listed company with a core business in Greater China, further expanding its strategic footprint in the regional consumer and retail sector.
indeed, jackie. I am also hoping the board will consider to unlock the value of PHB by delisting PRA - 100% of its net income and cash flow to flow directly into PHB. It makes no sense to list PRA anymore since Indonesia and Vietnam ops are no longer in the picture and PRA's assets are Parkson stores/malls in Malaysia.
ooh, its out. rmb39.8mil net profit. Profit from operations for the three months ended 31 March 2026 was RMB157.5 million, an increase of RMB34.6 million or 28.2% as compared to RMB122.9 million for the corresponding period of last year. Profit attributable to owners of the Company for the three months ended 31 March 2026 was RMB39.8 million, as compared to RMB3.4 million recorded for the three months ended 31 March 2025.
I would prefer the mgmt to pick the low hanging fruits first. good that they are now being more aggressive in closing non performing stores in China and updating the retail format in China. I hope they will consider to delist PRA so that the cash flow can flow directly to PHB :)
its true that the balance sheet is consolidated but not 100% when it comes to net income and cash flow as PHB shareholdings on PRA is ~68%. There is the 32% minorities. When PRA is delisted (PHB to buyout the 32), then, 100% of the net income and cash flow flows directly to PHB. Makes a big difference to PHB. I can understand why PRA is there in the past as there are indon and vietnam ops. But these are no longer there and the stores parked under PRA are in Malaysia.
looking forward to the upcoming report - hoping for a "less is more" performance; a multi year high qtrly net profit if there are no surprises from impairments.
Driving efficiency is exactly what the mgmt should be doing, jackie. They have done it for PRA and its reporting profitable qtrs. PRG was slow and started to pick up pace last year; could be Irelia providing expertise to the mgmt. This quarter results blew the roof off from margins, cash flow, eps and etc. Solid if you will.
top30 holding close to 80%, good performance, the queue is thin - pointing to strong hands in control of the float and price will be determined by liquidity.
latest announcement on tenancy renewal. once again showing the efficiency focus - shorter lease, more favorable to Parkson - 2.5% lower rent compared to independent valuer's market rate, longer rent free package, and landlord agreed to pay for facilities capex up to rmb16mil.
The AGM minutes is out and question #11 and #12 kinda explained why PRG been going up. A total of myr96mil cost savings in the pocket for FY26 (46mil interest savings and 50mil non-repeat of Fuxingmen store loss). Looks like the odds is high that we may see a profitable FY26. Q11:After closing the loss-making Beijing Fuxingmen store, how much cost reduction is expected in 2026? Ans: The store incurred losses, including closure costs, of about RM50 million in 2025. Following the closure of the loss-making store, the Group expects operating losses to be reduced in 2026. Q12: Parkson Retail Group Limited has replaced high-interest Hong Kong dollar debt with Rmb loans, effectively lowering the interest rate. By how much is the bank interest expense expected to decrease in 2026? Ans: In June 2024, the Group drew down the Rmb loans to fully settle its HK$ denominated bank loans. The Rmb loans carry a lower interest rate, resulting in an annual interest cost savings of about Rmb80 million (equivalent to approximately RM46 million).
Less is more, Jackie. Meaning - close non profitable stores and upgrade the retail format per the new trends - Gen Z are driving the physical malls footfall traffic based on multiple research. Stop the losses of non profitable stores and put its strong operating cash flow for good use / profitable stores.
leasing income is contributing approx 20% to Parkson's total revenue; rental income + eq and display space lease income + income from subleasing rou assets. Maintaining the leasing income, stopping the losses of non profitable stores, renegotiating leasing terms, and updating the retail format are some of the visible actions from mgmt currently.
this stock is worth more than 25 in my personal opinion :) and obviously Irelia eyeing its fair value given that its substantial shareholding in PHB and PRG :)
I will not sell it unless it is at high forties to fifties range, ricardo. this is based on the recent Q1 results plus the information from recent AGM minutes which has shown improvement comparing to previous qtrs performance despite lower revenue. Just to name a few - operating margin at decade high, lower finance cost, parkson credit profit doubled yoy, PHB 41mil profit highest in decade. My bet is that a profitable FY2026 will trigger a positive rerating :) And for Parkson + Irelia, its a success of their restructuring initiatives.
PRG's profitability inflecting upwards - closure of non profitable stores, renegotiating lease terms and updating its retail formats; optimised assets generating predictable returns if you will.
top30 holding almost 80% as of end of Mar this year. price did not move much since then. Basically, not much free float out there and its becoming illiquid.
PRG report out next week and PRA should be this week then - The board of directors (the “Board”) of Parkson Retail Group Limited (the “Company”, and together with its subsidiaries, joint venture and associated companies, the “Group”) hereby announces that a meeting of the Board of the Company will be held on Thursday, 20 August 2026 for the purposes of, among other things, considering and approving the unaudited consolidated interim results of the Group for the six months ended 30 June 2026 and its publication and transacting any other business.
lets see what is the recovery progress for PRG. BEIJING, July 27 (Xinhua) -- Over 70 percent of shopping malls across China recorded increased foot traffic in the first half of 2026 (H1), showing a mild upward trend, a survey showed Monday. The survey, released by the China Chain Store & Franchise Association, covered companies operating in China's shopping mall sector. It showed that more than 40 percent of respondents reported a 5 to 10 percent rise in foot traffic in the first six months.
Online shopping also saw an uptick during the period, with 43.4 percent of surveyed companies reporting a higher online sales ratio, according to the survey.The survey also showed that shopping malls nationwide posted a higher occupancy rate during the period.
China's total retail sales of goods and services, a major indicator of the country's consumption strength, increased by 2.7 percent year on year in the first half of 2026, according to the National Bureau of Statistics.Boosting consumption is a key task set out in the outline of China's 15th Five-Year Plan, which calls for efforts to strengthen people's spending power, bolster their willingness to spend, and increase the supply of quality goods and services to meet the diverse needs of consumers.
I had a look at PRG's report, Ng. its 6 months ended performance. If I minus out with q1 performance, the latest qtr for PRG is showing a qr loss of ~rmb16mil. Today's volume is pretty high which is interesting and probably investors are optimistic with PRG's transformation? There were some remarks in PRG's report though: (1) The year 2025 marked a pivotal turning point in the Group’s renovation and transformation efforts. The Group formulated customised renovation and upgrade plans for our stores to restructure business formats and gradually phase out traditional ones. The Group has driven the transformation of key stores, such as our Harbin Store, Nanning Store, Hefei Store, and Shenyang Store. Although this transition inevitably required a period of adjustment, resulting in a decline in concessionaire and direct sales, it has gradually increased foot traffic to our stores. (2) The Group has also conducted a comprehensive review of its portfolio. During the Review Period, the Group closed Chengdu Fashion Parkson Store and Shanghai Xinzhuang Parkson Store due to strategic operational adjustments.
Thanks, Ricardo. I didnt avg up yet despite recent upward trends. there could be positive surprise from PHB or potential corporate developments judging from the volume today?
phew... one q2 seasonality (footfall traffic) almost wiped out the good results from q1; operating profit problem due to lower revenue instead of expense and financing problem; lower expenses and flattish finance costs qoq & yoy.
1HFY26 performance (ctd net profit) should be able to absorb another soft qtr in q3fy26. q4fy26 operating performance + annual impairment exercise will determine whether FY26 will return to black or in red still.