18-06-2012, 08:30 PM
I am sorry that i never state earlier that the ROA and ROE i use in my analysis are base on the segmental result. if you check the segment result, you will be amazed by how the 2 segments compliment each other in terms of profit margin and ROA.
The amount of loan that can be provided is determined by the total amount of cash that it has to lend out. Given that maxi-cash has trade receivables of $122.5 and the term is often fixed at 6 months, it should have given out at least $245m in loan and not forgetting that some shops has just been newly opened.
Of course, we are still not able to have a definite answer on the stable operating margin (not including interest rate of loan) given that they are still expanding and hence will not be operating some shops at the optimum level.
The amount of loan that can be provided is determined by the total amount of cash that it has to lend out. Given that maxi-cash has trade receivables of $122.5 and the term is often fixed at 6 months, it should have given out at least $245m in loan and not forgetting that some shops has just been newly opened.
Of course, we are still not able to have a definite answer on the stable operating margin (not including interest rate of loan) given that they are still expanding and hence will not be operating some shops at the optimum level.
