Aspial

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#71
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.
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#72
the pawn business model highly depends on current low interest rate as well.

when interest rate is 1%, bank may lend you 100 million dollar; but if interest rate goes to 5%, bank might just lend you 20 million dollar. In pawn business, you need leverage to have good return.
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#73
More than 95% of Maxi-Cash assets are pledged loan, cash and valuable inventory. It is inconceivable that Mr Market will value Maxi-Cash much below its NAV of 20.3 cts.

IMO, the Maxi-Cash's market price after IPO, will be at least priced at slightly below PB of 1, or PE of 20 (@ 2011 EPS of 1ct)

Any comments?
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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#74
The invitation close today.

http://info.sgx.com/webcorannc.nsf/Annou...endocument

According to time-table, tomorrow is the balloting if required. The day after next is commence trading day

I am interested to see the outcome of their placement. Should be out soon.
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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#75
(07-08-2012, 07:59 PM)Behappyalways Wrote: Another one ^^

plus dividend.....amazing

http://info.sgx.com/webcoranncatth.nsf/V...3003AF867/$file/BonusIssue.pdf?openelement

come on aspial, pls take over sing holdings....the robin site is attractive......use your overvalued shares to do it.......


(30-04-2012, 06:53 PM)Behappyalways Wrote: lol another bonus issue....

http://info.sgx.com/webcoranncatth.nsf/V...0003B5D45/$file/BonusIssue.pdf?openelement

Still enjoying the ride!
Big Grin
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#76
(07-08-2012, 08:55 PM)Behappyalways Wrote: yes i owned aspial and sing holdings. Last year december, Sing holdings' share price was higher than aspial. But now aspial after 2 bonus(and another one coming), the share price of aspial is even higher than Sing Holdings......

the Lee family of Sing Holdings really did a lousy job in terms of share price. really lousy. I owned the 2 counters and I really can see the difference....

I only own Aspial........... enjoy the ride while it LASTS...
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#77
perhaps you can put more money into aspial (and possibly fragrance) if this is a sure-win way in investments
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#78
Aspial share price could be manipulated. Rolleyes
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#79
Trading halted pending announcement........
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#80
no more bonus issue for Aspial...........

What's next?
Push the price to 50cents ?
Issue scrip dividend with deep discounts?
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