18-06-2014, 12:26 AM
Haha, finally found a company that VB has yet to have a thread.
Anyway, alerted to this company when I am doing my screening.
Price is at 52 weeks low, and 50% off its peak.
Yet, they have plans to expand 22% of their retail space by 2015.
(http://infopub.sgx.com/FileOpen/PRA_FY20...eID=296049 slide 23)
2 quarters of below expectation results, mainly due to vietnam. (I visited their mall at VIetnam Ho CHi Min, it is not crowded, but it is well decorated, and staff well trained, speak good English)
The numbers are good, net cash position (Recent IPO), founders owned majority of stake. While Vietnam flounders, Indonesia is doing well, and they are expanding there. Numbers are also affected by closure of 3 stores for renovation in Malaysia.
OCF and FCF are positive.
Aim to provide 40% of profits as dividends, althought not a policy, but should be continued since founders owned big chunk of company.
Not actually cheap now, with forward PE of 15 (assume Q4 is as bad as Q3, unlikely), is market overlooking the growth prospect of the company?
Since MHA370 issue will blow over with the Chinese sooner or later, the expansion plans are in place till 2015.
(Just a very preliminary look, not vested )
Anyway, alerted to this company when I am doing my screening.
Price is at 52 weeks low, and 50% off its peak.
Yet, they have plans to expand 22% of their retail space by 2015.
(http://infopub.sgx.com/FileOpen/PRA_FY20...eID=296049 slide 23)
2 quarters of below expectation results, mainly due to vietnam. (I visited their mall at VIetnam Ho CHi Min, it is not crowded, but it is well decorated, and staff well trained, speak good English)
The numbers are good, net cash position (Recent IPO), founders owned majority of stake. While Vietnam flounders, Indonesia is doing well, and they are expanding there. Numbers are also affected by closure of 3 stores for renovation in Malaysia.
OCF and FCF are positive.
Aim to provide 40% of profits as dividends, althought not a policy, but should be continued since founders owned big chunk of company.
Not actually cheap now, with forward PE of 15 (assume Q4 is as bad as Q3, unlikely), is market overlooking the growth prospect of the company?
Since MHA370 issue will blow over with the Chinese sooner or later, the expansion plans are in place till 2015.
(Just a very preliminary look, not vested )