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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%.
takes time, slowly but surely. hope that the board will continue to unlock the value of Parkson given the emergence of new substantial shareholder now. The street likes to see accounting profit instead of generating cash from ops, positive cash flow, double digit operating margins :)
Ntg acquisition of phb shares is very cheap compared to the major shareholders. average cost could be around 0.20. good bargain.... good times ahead !!!
Cheng, pared down a small portion from 20 every step on the way up, doesn't make sense to sell < 20 considering the lucrative Malaysian retail operations and the up and coming credit business
Congrats, Ricardo. Spot on summary you have there and seems like you have been looking at the numbers/margins :) Indeed PHB consistent double digit margins are driven by PRA margins; the anchor if you will. PRG margins dipped to 5% and below for 2 out of 4 qtrs in FY2024. Q1FY25 is back to double digit. Retail sales data in China is looking good, Parkson Credit is parked under PRG and growing. A consistent double digit margins from PRG coupled with the planned investments will be nice for PHB.
another notable movement in the top 30 shareholdings is Cheng Yong Kim; added ~10mil shares of Parkson based on latest AR. His shareholding has not changed since 2020 and latest AR showing he has increased it to 19+mil. Not sure what is brewing but hopefully the board will work hard to unlock the value of PHB.
Tan Sri Albert Cheng Yong Kim, BOD with several Lion group listed companies, related to the biggest shareholder of PHB Tan Sri William Cheng, could be something brewing ....some parties loading up some shares. with their networth acquiring substantial shares is cheap at the current market value.
there are a lot of value in PHB to be unlocked if taken private. One of the properties in Beijing commercial district and another 1 in China is the jewel crown
No stop loss for this as the risk is low for me, Ricardo. I kept 700 lots free tickets which were mostly bought back in 2023 at 0.135. Rebalanced my position last year after the results of q2fy24 due to its ops margin dropped below 10% driven by PRG and being wary of year end impairment exercise. Didnt add any positions since then until q1fy25 results showing ops margin is above 15% which is higher than q4fy24 ops margin. Added 745 lots yesterday. I will consider increasing my position if ops margins remain strong and rebalance if ops margins starting to show weak numbers.
Technically, the current major long term trends is still intact since the breakout at 0.19; above the 2 years downtrend line. Takes time and hopefully will be a worthwhile ride. 3rd higher low since 2020 and hopefully 3rd higher high in the making; internal focus of efficiencies and positive external headwinds of higher consumer spending at the back of lower interest rates and China gomen focus on boosting consumer consumptions. The insiders movement is also a positive factor with the emergence of new substantial shareholder.
another announcement - glad that the mgmt is now taking more aggressive actions for PRG :) This particular lease was renewed back in early 2019 for 10 years until end of 2028; total rental payable for 10 years = RMB670mil equivalent to RMB16.75 mil per qtr back then. Stop the losses and focus on profitable stores/locations.
13 Aug 2025
1,256,900
Acquired Direct Interest
Name of registered holder Irelia Management Sdn Bhd
Address of registered holder No. 43 Jalan SS15/2A 47500 Subang Jaya Selangor Malaysia
Description of "Others" Type of Transaction
2 14 Aug 2025
1,191,400
Acquired Direct Interest
Name of registered holder Irelia Management Sdn Bhd
Address of registered holder No. 43 Jalan SS15/2A 47500 Subang Jaya Selangor Malaysia
Description of "Others" Type of Transaction
3 15 Aug 2025
2,760,000
Acquired
Direct InterestDirect (units)89,054,700Direct (%)7.751Indirect/deemed interest (units)Indirect/deemed interest (%)Total no of securities after change89,054,700Date of notice15 Aug 2025
Thanks, Ng. confirmation of estimated avg price for Irelia :) let's see whether Irelia can push it above the 0.26 level which has been blocked for few weeks or it will be looking for opportunity to accumulate on weakness again.
PRA gapped down few days ago and apparently it's due to qr loss; - SGD100k driven by lower revenue + higher wage & expenses for private label expansion. Net loss seems small on the surface but higher wages/expenses is a structural/permanent change which requires revenue growth to be higher by ~10% to offset the structural change. PRG report will be released on 21st Aug.
PRG report out later in the evening. No profit warning announced to the exchange since the announcement of the board meeting date. PHB report to follow suit.
Irelia has been acquiring on weakness/pullbacks, Ng. Lets see whether Irelia will switch to buy on strength after the QR; during the safe 3 months period.
PRG's results - Profit attributable to owners of the Company for the period was RMB22.5 million and loss attributable to owners of the Company was RMB18.6 million recorded for the corresponding period of last year.
Parkson Retail Group Limited reported its interim results for the six months ended June 30, 2025, showing a slight increase in total operating revenues to RMB1,962.8 million, despite a decrease in same store sales by 18.4% and a decline in total gross sales proceeds by 11.5%. The company achieved a profit from operations of RMB257.6 million, marking a significant improvement from the previous year, and declared an interim dividend of RMB0.02 per share, reflecting a positive turnaround in profita
HIGHLIGHTS
Total operating revenues for the period amounted to RMB1,962.8 million, representing an
increase of 0.9% as compared to RMB1,944.7 million for the corresponding period of last
year.
Same store sales (“SSS”) for the period decreased by 18.4%.
Total gross sales proceeds (“GSP”) inclusive of value-added tax for the period were
RMB4,155.3 million, representing a year-on-year decrease of 11.5%.
Profit from operations for the period was RMB257.6 million, representing an increase o
Profit attributable to owners of the Company for the period was RMB22.5 million and
loss attributable to owners of the Company was RMB18.6 million recorded for the
corresponding period of last year.
Declared interim dividend of RMB0.02 per share.
During the Review Period, the global economic environment faced persistent headwinds
characterised by heightened uncertainties. It is entering a “low growth, high volatility” new
normal, shaped by escalating trade conflicts and policy volatility. Even though the economy
of the People’s Republic of China (the “PRC”) has demonstrated strong resilience and vitality,
the consumption market in the PRC is going through a landscape of moderate consumption
recovery and deepening consumption fr
Looking ahead, amid the growing diversity in consumer demands and the increasing
competition in the retail industry, the Group remains focused on its core business and
operational innovation to stay agile and competitive in a rapidly changing market.
Despite the complex and volatile prevailing economic environment, the Group remains active
in seeking strategic business expansion to seize growth opportunities where the Group has
established presence, while investing in stores renovation
actually, the results is pretty good from the baseline of "China ops is struggling", Ricardo. The headline operating margins was at 13.1% (operating profit/total operating revenue) and assuming we strip off the lease termination income, the normalized operating margins will be at 7.4%. The headline operating margins was the 3rd highest quarter over the last 3 fiscal years. There is something else that is growing organically from the report - % of direct sales from total sales. It has reached 30%. It seems to me that private labels is doing really well in China and hence, PRA latest report showing that mgmt has started to expand the private labels too. Direct sales contribution to PRG has always been mid to high twenties while PRA is less than twenties. Private labels tends to have higher margins compared to concessionaire sales.