I realised that the number of outstanding shares have been shrinking in the last 8 years. Did they do a share buyback?
Kingsmen did buy back some shares (4.8m) in FY 2008, at an average price of $0.385/share.
On an unrelated note, in the Suntec REIT thread it was mentioned that clothing giant H&M (Kingsmen's client for their first flagship store) will take up 20,000 sqft of space in the newly refurbished Suntec City Mall, due to be completed in 2013. So far H&M have announced setting up in Jem as well in Jurong East (2nd Outlet) and now Suntec City Mall (3rd outlet). It remains to be seen if Kingsmen can fit-out all their stores - if so this will bring in significant business for them.
Another international fashion retailer was mentioned (but not named) to take up 22,000 sqft in Suntec City Mall, so there is a good opportunity here for Kingsmen to capture this contract as well for their Interior Fit-Out Division.
Did the Delta Lloyd guys make their presence felt at the agm? Any good questions from them?
(01-05-2012, 11:25 AM)wsreader Wrote: [ -> ]Did the Delta Lloyd guys make their presence felt at the agm? Any good questions from them?
I don't think so. They didn't identify themselves to the crowd even if they were there.
There were hardly any questions asked during the AGM proper, much less good ones.
Most of the questions came during the informal makan session after the AGM proper, where Andrew Cheng (GM), Benedict Soh and Simon Ong interacted with the shareholders over (a sumptuous) lunch buffet.
Attached please find latest research report on Kingsmen by AmFraser. Surprised that they have jumped into the fray along with Kim Eng and DMG to write a report on Kingsmen. I recall they had an initiation report not too long ago.
Kingsmen released their 1Q 2011 results back on May 6, 2011. So I guess we can reasonably expect them to release their 1Q 2012 results some time next week. Just a flashback:-
3M 2011 Revenues = $36.5M (down 22% y-o-y)
3M 2011 NPAT = $1.4M (down 40% y-o-y)
For info.
The Straits Times
May 3, 2012
Robinsons may move into The Heeren
Talk of switch linked to possible redevelopment of Centrepoint
By Ng Kai Ling
WHILE remaining tenants at The Heeren have to move out by July, speculation has surfaced that Robinsons department store could be moving in.
The Heeren, which is some 290m away from Centrepoint which Robinsons has called home since 1983, is slated for an 18-month renovation.
Neither Swee Cheng Management, which runs The Heeren, nor Robinsons would comment on the matter but retail-property analysts said the move could be linked to the possibility of Centrepoint itself being redeveloped.
Mr Danny Yeo, group managing director of property consultancy Knight Frank, said: 'There is some uncertainty about what's going to happen at Centrepoint so it makes sense for Robinsons to look for alternatives along Orchard Road.'
He added that whether the deal will go through will depend on whether the space in The Heeren is big enough for Robinsons - which occupies six levels in Centrepoint - and whether the two parties can agree on the rent.
Currently, rent at The Heeren is about $16 to $17 per sq ft. On average, prime Orchard Road rent is about $30 or more psf.
Mr Ong Kah Seng, director of property consultancy R'ST Research, said that while long-time Robinsons customers would be upset if the store were to switch to The Heeren, the new location could benefit the store too.
It faces Mandarin Gallery and is near fashion retailer H&M, Knightsbridge and 313@Somerset.
The Heeren currently has eight tenants while the rest of the six-storey mall has been boarded up.
The tenants, who declined to be named, said the word is that the refurbishment, after their moving out by July, will pave the way for Robinsons to either become the anchor tenant or take over the entire mall.
They told The Straits Times last night that while the mall started to lose tenants more than a year ago, the exodus picked up speed in the last six months.
Since the start of this year, more than 20 tenants, including surfwear retailer Flash & Splash, Spinelli Coffee Company and watch retailer Swatch have called it quits.
Last night, the mall was largely deserted, except for one or two customers in the hair and beauty salons. Indonesian restaurant Desa Kartika had no diners but restaurant TGI Fridays looked to be about 80 per cent full.
Mr Eugene Ong, managing director of hair salon Urban Hair by Ginrich, said he was told about eight months ago that he had to move out of the 16-year-old mall. 'The management did not say what they had planned,' said Mr Ong whose three-year lease was due to expire in March next year.
The Heeren, once bustling with young people hungry for the latest in music and fashion, started to lose its buzz about five or six years ago.
Things worsened after key tenants such as restaurant Marche and music store HMV left in 2006 and 2009 respectively.
A reprieve came in 2010 when fashion and accessories store ALT became anchor tenant. But that lasted for only eight months and it vacated the 23,000 sq ft space in February last year.
Robinsons, in contrast, has gone on an expansion path. Last year, it opened a store in Marina Bay Sands and will roll out its first suburban outlet at Jem shopping mall in Jurong next year.
Meanwhile, Mr Eugene Ong is on the lookout for a new shop space.
Asked about the possibility of moving back to The Heeren, he said: 'From what I know, there is no space for us to come back to.'
kailing@sph.com.sg
As (reliably as ever) foretold by Musicwhiz.............
+++++++++++++++++++++++++++++++++++++++++++
KINGSMEN CREATIVES LTD.
(Company Registration No: 200210790Z)
DATE OF RELEASE OF FIRST QUARTER UNAUDITED FINANCIAL
RESULTS FOR THE PERIOD ENDED 31 MARCH 2012
The Board of Directors of Kingsmen Creatives Ltd (“the Company”) wishes to announce that the Company will be releasing its first quarter financial results for the period ended 31 March 2012 on Thursday, 10 May 2012, after trading hours.
BY ORDER OF THE BOARD
Soh Siak Poh Benedict
+++++++++++++++++++++++++++++++++++++++++++
Daily trading volumes in Kingsmen shares are certainly on the increase in recent days/weeks. And today, some pretty chunky bid offers were placed at the S$ 0.680 and S$ 0.685 levels.
Traditionally Kingsmen's second half numbers are seasonally superior to their first two quarters. And last years Q1 was indeed a minor (repeat: minor) wobble. Next Thursday evening's announcement will be interesting.
Vested
(02-05-2012, 05:39 PM)Musicwhiz Wrote: [ -> ]Attached please find latest research report on Kingsmen by AmFraser. Surprised that they have jumped into the fray along with Kim Eng and DMG to write a report on Kingsmen. I recall they had an initiation report not too long ago.
Kingsmen released their 1Q 2011 results back on May 6, 2011. So I guess we can reasonably expect them to release their 1Q 2012 results some time next week. Just a flashback:-
3M 2011 Revenues = $36.5M (down 22% y-o-y)
3M 2011 NPAT = $1.4M (down 40% y-o-y)
AM Fraser having an "upfront with mgmt".. and it is inclusive of kingsmen creative..
might be an opportunity to meet them and ask questions..
not sure if it is free or the seats are fully reserved..
*not vested*