i tot that stretches of shopping belt was just refurbished in recent years? why another round of wasting resources to sprue up the places for the riches again?
FMCGs needs constant "repackaging" ... change colour here, change letters there... rich consumers are easily "sianz"...
(25-02-2012, 10:57 AM)pianist Wrote: [ -> ]i tot that stretches of shopping belt was just refurbished in recent years? why another round of wasting resources to sprue up the places for the riches again?
without the riches, the poors would die of unemployment. I heard this argument countless from politicians.
Great catalyst down the road for Kingsmen, this wont be the end of the re-resprucing. If Orchard Rd wins, Suntec and MBS will want to fight back. Slaughter throat retail scene, everyone wants to get the tourism money.
Full Year result
http://info.sgx.com/webcoranncatth.nsf/V...10031857B/$file/KingsmenSGXAnnouncementQ411.pdf?openelement
Some highlights.
Revenue 260,988 +11.7%
PAT 16,327 + 8.5%
Earning per share 8 .56cts
Final dividend 2.5cts
As on 25th Feb, Kingsmen has $106 million of contract to be recognized this FY12.
During the same period last year, the contract to be recognized is only around $70 million.
So FY2012 is likely to be exciting
I haven't had chance to thoroughly review Kingsmen's FY 2011 and Q4 numbers but I'm pleased to see the dividend at 2.5 Scents and on first scan this seems a highly satisfactory set of financials. Even with these higher numbers I believe it is worth noting that the Directors actually paid themselves a total of 8% less in 2011 than in 2010 - a seriously good management who addresses their challenges very well but at the same time without going OTT on executive remuneration. As an "existing shareholder", I remain more than satisfied.
Vested
(27-02-2012, 09:26 PM)RBM Wrote: [ -> ]Even with these higher numbers I believe it is worth noting that the Directors actually paid themselves a total of 8% less in 2011 than in 2010 - a seriously good management who addresses their challenges very well but at the same time without going OTT on executive remuneration.
I think the reduction is mainly due to the resignation of Edward Ho Juan Hee (replaced by Michael Ng Hung Chiao), as the previous Managing Director - Greater China Operations, effective 1Jan11.....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
There could well be another round of reduction in this FY12, as Michael Ng himself resigned from the same post on 8Dec11....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
So far, no replacement has been announced yet.
Kingsmen's remuneration system for key executives is skewed towards bonus/incentives (typically as much as average 60% of the yearly total for each executive) linked to their individual performance/contribution.
Business Times - 28 Feb 2012
Kingsmen posts 8.4% increase in profit to $16.3m
By VEN SREENIVASAN
MAINBOARD-listed interiors and design specialist Kingsmen Creatives unveiled strong bottomline and revenue growth, and announced a dividend payout which translated into a full-year yield of almost 6.5 per cent.
Buoyed by strong performances by its Interiors, Research & Design and IMC (integrated marketing & communications) divisions, the company posted an 8.4 per cent increase in net profit to $16.3 million for the year ended Dec 31, 2011. This came on the back of an 11.7 per cent rise in revenue to $261 million from $234 million a year earlier.
The company also declared a final dividend of 2.5 cents, which when added to the 1.5 cents paid at the interim, works out to 4 cents for the year - or a yield of 6.5 per cent based on the stock's closing price of 61.5 cents yesterday.
Kingsmen painted an upbeat picture of its prospects for the current year, citing its strong market position and the business flow into and outside Asia. It revealed that as at Feb 25, it was sitting on secured contracts of approximately $106 million, which will be recognised this financial year.
'Despite 2011 being a challenging year for the global economy, Kingsmen has again withstood the test, continued to grow its business and has emerged stronger than ever before,' said Benedict Soh, executive chairman of Kingsmen.
In terms of divisional contributions, Interiors recorded a 25 per cent rise in revenue to $144 million as rollouts for key brands like Abercombie & Fitch, Tiffany, Uniglo, Swarovski, Robinson & Co, Polo Ralph Lauren, Chanel, Burberry and other global names continued.
Exhibitions & Museums saw a 5.2 per cent dip in sales to $99.4 million, largely reflecting the absence of major exposition events from the previous year such as Expo 2010 in Shanghai.
R&D saw a 33 per cent rise to $8.6 million as the company's capabilities to undertake design consultancy continued to grow.
IMC, which is a relatively new business unit, grew its revenue almost 28 per cent to $8.9 million.
Its interiors division is seeing strong demand as global brands continue their pan-Asian rollouts, while ongoing projects like Hong Kong Disneyland and Gardens by the Bay in Singapore keep its exhibitions unit on full throttle.
Mr Soh said the company was continuing to expand its pan-Asian footprint while strengthening its existing networks.
'Our focus on continuously enhancing our capabilities and expanding our footprint has taken on a more urgent tone as we seek to capitalise on the growth opportunities in Asia,' he said. 'To this end, we opened a new office in Shenzhen in 2011, and also upgraded our offices and facilities in Malaysia, Indonesia and South Korea. Even as we move to enhance our capabilities, we are already seeing an expansion of our client base across our territories and are receiving more inquiries for retail store rolls and fixture exports to Europe and the US.'
More chances for fit-out of stores when T4 is ready for opening in 2016-2017?
The Straits Times
Mar 1, 2012
Budget Terminal to close Sept 25, new terminal named T4
By Royston Sim
Changi Airport Group (CAG) will close the Budget Terminal on Sept 25, and will build in its place, a larger terminal that will be named Terminal 4 (T4).
In a media release today, CAG said the existing Budget Terminal will be demolished to build a larger passenger building that can cater to continued air traffic growth at Changi Airport.
The new T4 will have a capacity of 16 million passengers per annum, more than twice the present capacity of 7 million passengers per annum.
Unlike the present Budget Terminal, T4 will have a wide choice of retail, food and beverage offerings and passenger amenities to better serve travellers' needs, said CAG.
The five airlines currently operating in the Budget Terminal will relocate to Terminal 2 and start operating there from 6am on Sept 25.
Construction on T4 will begin next year and it is expected to be ready by 2017.
Do anyone have idea about staff turnover at Kingsmen.