(28-07-2013, 04:31 PM)CityFarmer Wrote: [ -> ]IMO pawn shops didn't contribute to current social inequality. It makes "legal loan" service equally accessible to all. Banks doesn't have the same accessibility. So pawn shop actually "improve" on social inequality. 
I do not think pawn shops contribute to social inequality either. Sometimes, people get confused with cause and symptom. More pawn shops appearing in times of prosperity is a
symptom of income inequality, not a cause.
Do you think there is much difference when you buy your HDB flat under a housing mortgage loans of 10 to 20 years? Or a car under 7 to 10 years credit loan? The only difference is AH BENG takes a loan from pawnshop to tight him over, while you maybe a highly paid civil servant or privately employed salaried man from a Bank. If you lost your job, there is no difference. IMO.
http://infopub.sgx.com/FileOpen/Masnet_3...eID=251179
1H EPS 0.38 cents with 2Q EPS 0.01 cents.
Hit by rapid decline in gold price.
Seriously, I don't know how to buy such a stock - fundamentally overvalued and apart from turnover, the underlying drivers is so complicated - how management read the gold price trend. In which case, we might as well take a view via GOLD ETF.
Anyway, this group is fantastically good at printing paper. Caveat Emptor.
Not Vested
Interesting group of companies that's competing to do bonus issues, haha yeah i know it is to make the stock more liquid
I was just reading the financial statement of maxi cash, trading at a current valuation of more than 40. Will this stock follow the footsteps of blumont, liongold, asiasons? Not too sure, only time will tell
(14-10-2013, 11:59 PM)safetyfirst Wrote: [ -> ]I was just reading the financial statement of maxi cash, trading at a current valuation of more than 40. Will this stock follow the footsteps of blumont, liongold, asiasons? Not too sure, only time will tell
The PE is high at more than 40, but the PB is approx 3, which is not aggressive relative to the three stocks at their peak. The three stocks' valuation were as high as few hundreds in PE, and more than 50 at PB at their peak.
But I do agree the company stock is overvalued. The fair valuation of the company should be slightly above 1 in PB, IMO.
(not vested)
Sometimes I don't understand how SGX approval works...
