【PARKSON 5657 交流专区】百盛控股

sundaymidnight

parkson又没有在台湾扎营，材米油盐又不是parkson的主攻产品
而且parkson所谓的高消费，在台湾只是普通消费；在中国会去parkson的都是闲钱多的2世祖
没有影响

33333

我觉得要关注的是失业率，只要失业率一提高，百盛的风险就很高

33333

（吉隆坡22日讯）百盛控股（Parkson，5657，主板贸服股）宣布，旗下独资子公司Spring Active私人有限公司以总值2亿1千400万令吉收购位于文良港的零售广场。

文告指出，Spring Active私人有限公司与辉德多元（Fitters，9318，主板贸易服务股） 旗下独资子公司——Premier Equity控股签署买卖协议，并以现金8千万令吉从Wintip私人有限公司手中收购有关广场的权利。

文告表示，Spring Active私人有限公司将以总值1亿3千400万令吉委任主要承包商以为广场进行设计以及建筑。因此，广场的总成本为2亿1千400万令吉。

slayer_boxer

原帖由 sundaymidnight 于 22-3-2008 09:40 AM 发表
parkson又没有在台湾扎营，材米油盐又不是parkson的主攻产品
而且parkson所谓的高消费，在台湾只是普通消费；在中国会去parkson的都是闲钱多的2世祖
没有影响

唉哟。。。
你误会我的意思，
如果台湾暴乱，肯定会引起恐慌
股票不跌都难
幸好，结果出来后，没有暴乱

33333

市场呈献了好的一面，现在只剩下大马的政治问题。

sundaymidnight

该不会是setapak的the galery吧？荒废了那么久

33333

我对SETAPAK还算挺熟，想请问那是在什么地方？靠近哪里？

小女人下午茶~

在danau kota公积金对面马路的一块地。现在已经正在发展公寓和商店，后面还有一个旧粪化池。旧粪化池以后会被发展成一个湖滨公园。

hmjj

原帖由 slayer_boxer 于 22-3-2008 12:09 AM 发表

如果明天台湾暴乱怎么办？？？
个人觉得高消费在目前经济展望低迷的情况，要考虑一下

台湾这次的大选很和平，放心！没事～

hmjj

Parkson 上星期闭市价为RM5.40，若跌破RM5.00，有钱要做投资的朋友不妨考虑逐步趁低进一点货。

Mr.Business

Dali的博客文章。

Thursday, March 06, 2008
Judging Khazanah

Finance Asia: Khazanah Nasional last night raised US$646.8 million through a combined sale of Islamic bonds exchangeable into Parkson Retail Group, and secondary Parkson shares. If the five-year bonds (with a three-year put) are exchanged in full, the sale will result in Khazanah parting with its entire 9.8% stake in the Hong Kong-listed company, which is the largest nationwide department store operator in China. The bonds made up about 85% of the combined sale, or US$550 million, which translates into about 44 million shares after the premium was fixed at the wide end. This left room for the placement to be increased in size from an initial offer of around US$70 million plus an upsize option of US$10 million to a final size of US$96.8 million, or 10.6 million shares. If the exchange premium had been lower, Khazanah would have had fewer shares left on its books to sell through the placement.

Khazanah, which is the investment arm of the Malaysian government, owned about 54.6 million shares in Parkson before yesterday’s transactions, or about a 9.8% stake. It bought the shares at the time of Parkson’s IPO in November 2005 and, based on the 676% gain in the share price since then, was sitting on a profit of about US$465 million on an original investment of US$69 million. The realised gain will be even greater, however, since the bulk of the shares are sold at a premium to the current market price. Sources said Khazanah chose to sell a portion of the shares through a discounted placement because it wanted certainty about the point of exit for part of its holdings. The bonds were structured to comply with Sharia law and marked the third time in 2.5 years that Khazanah sold exchangeable Islamic bonds to the market. Supported by the Malaysian government, the investment company has been working hard in recent years to develop a market for Islamic bonds, which are also referred to as sukuks, and investors in the Middle East are clearly getting more comfortable with the equity-linked format. This was evident by the fact that the Parkson bond was priced with a zero coupon, despite the traditional liking among Middle Eastern investors for more fixed income-like instruments that pay regular coupons.

The deal was marketed with a coupon range of 0% to 0.25%. The bond floor has also been edging lower with each new exchangeable, from 98% on the first one in September 2006, which was exchangeable into Telekom Malaysia, to 94.5% on the second one into Plus Expressways, and around 90% on yesterday’s offer. By choosing an underlying stock that is listed outside Malaysia, Khazanah was also able for the first time to introduce the possibility of hedging the equity option. It even lent enough shares for the bookrunners to conduct a so-called delta placement to provide the buyers of the exchangeable with sufficient borrow to go short. This would have helped in terms of making investors more willing to accept a higher exchange premium. Since it isn’t possible to go short on Malaysian stocks, this was not an option on its first two sukuk exchangeables. The fact that investors can short-sell the stock is likely to have factored in the decision against an extended marketing period, as that would have increased the pricing risk.

The bonds attracted about US$6 billion of demand, or more than 10 times the final size. There was no definitive breakdown of either demand or the final distribution, but one source says the allocation to Middle Eastern accounts was approaching similar levels to the previous Khazanah sukuk exchangeable when they walked away with about 50%. The demand from these accounts was said to have been almost enough to cover the entire deal. In all, more than 200 investors bought into the exchangeable, which traded up to about 102-102.5 after the pricing. Observers say the combination of a strong credit - essentially a Malaysian sovereign – the ability to buy the bonds as a volatility trade, and the positive outlook for Chinese consumption stocks made the offering attractive to both CB specialists and outright buyers who wished to make a bet on the equity story.

Parkson’s stock was under pressure in the first three weeks of January when it fell as much as 32% from a record close of HK$93.95 on New Year’s Eve, but it has since been edging gradually higher and yesterday closed at HK$76.10. Of the 14 analysts who cover the company, according to Bloomberg data, 10 have a buy recommendation on the stock. The shares were offered at a price between HK$70 and HK$72.30, which represented a discount of 5% to 8% to yesterday’s close. It was fixed just below the mid-point at HK$71 for a 6.7% discount, indicating there was at least some price sensitivity around. This price was then used as the reference price for the exchangeable, which means the actual exchange premium versus yesterday’s close was only 27.8%. However, it is quite possible that the price will adjust downward when the shares resume trading. Some observers suggested that the bonds were offered very cheap, but based on a credit spread guidance of about 125bp by the leads, a volatility cap of 35% and a bond floor of about 90%, the theoretical value came out at about 102.4%, which doesn’t seem excessive in the current market environment. The actual implied volatility was about 30%-31%, compared with a 100-day historic volatility of around 60%. The underlying assumptions included a stock borrow cost of 50bp and a dividend protection in case the yield goes above 0.8%. The bonds can be called by the issuer after three years, subject to a hurdle of 130% of the accreted value. Deutsche Bank was the global coordinator for both the bonds and the placement, as well as joint bookrunner together with CIMB and UBS. Deutsche also helped arrange the previous exchangable into Plus Expressways, while UBS was one of three bookrunners on the first bond into Telekom Malaysia. Malaysia-based CIMB was a bookrunner on both the previous bonds.

Comments:

a) In effect K is selling Parkson Retail at HK$71. Even though that is a huge gain compared to its entry price, it is a bit silly to sell now unless the shares were to go down to HK$50 in the near future. You should take profit when the stock is fully priced, not judge it from an entry price level. A five-bagger if still good can turn into a ten-bagger.

b) Exchanging the shares for USD. Why hold USD now? Not exactly a currency with good upside. Unless K were to quickly switch the USD to some other currency, then I can support the move. But if that's the case then K is not investing in good foreign companies, but trading according currency views.

c) Is K a sovereign fund. One of its priorities should be to diversify into international companies with good prospects. Parkson Retail fits the bill. How many more China-related counters does K have? Does K want to hold onto local companies only? Pretty short sighted move.

d) K may be forced to sell Parkson Retail in order to boost the sukuk offerings. More attractive sukuk issues would further grow Islamic finance in Malaysia and establish its credentials further. That is the one strong factor to do the deal.

e) Even so, good international shares are hard to come by. By selling Parkson Retail, it will be disposing a really good stock with unrealised potential. Is it any wonder the demand for the bonds were so strong. Somebody is holding the short stick.

f) K should really be accumulating stakes in good foreign companies, not trimming them in order to boost the sukuk market. Somehow the priorities seemed to have been misplaced in doing this deal. Which is the greater good?

g) Of course all things being equal, the good international companies should be the ones doing the sukuk issuance themselves. The deal would highlight that raising funds via sukuk is highly doable. If thats the aim, then consider it a very good move. Still the nagging feeling is that K does not have very very good foreign companies in their books already, and this just reduces their portfolio down another notch.

http://malaysiafinance.blogspot.com/

33333

得到什么结论？我看不明白。

condomx

2008年3月14日   04:18:25 p.m. HKT, AAFN
摩通增持百盛<3368.HK>161.3萬股至11.25%  
  
聯交所資料顯示，摩通於3月7日，以每股平均價70.4元，增持百盛 <3368.HK>161.3萬股，其持股量已由10.96%增至11.25%。(mk)

[/tr]

2008年3月19日   12:43:41 p.m. HKT, AAFN 新百貨<0825.HK>百盛<3368.HK>急彈11%及16%

深滬股市受惠宏調陰影暫因調高準備率0.5%消除止跌回升3.5%-5.7%。港股今早也跟隨外圍彈2.7%-4.4%，國指升幅最大，中午收報11564，港股半日成交額554億元。 李寧<2331.HK>去年純利升61%兼另派特別股息，支持連日遭拋售內地零售股全面止跌回升，尤其是去年純利升47%兼派息38分的百盛<3368.HK>最高見$63.1，暫受制10天線($63.5)，中午收報$62.15，急彈16%，成交256萬股。 去年純利升62%的新世界百貨<0825.HK>也高見$8.56，暫受制10天線，中午收報$8.42，反彈12%，成交257萬股。(sz)

[ 本帖最后由 condomx 于 23-3-2008 09:49 PM 编辑 ]

33333

增持，大家都在增持，大股东又看不到动静。不懂在搞什么？

sundaymidnight

原帖由 33333 于 21-3-2008 10:41 PM 发表
我也是看好奥运。我的目标价是10.5，到价我会放一半

http://sports.sohu.com/20040830/n221798732.shtml

　雅典奥运会圆满结束，客人可以拍拍屁股龇牙咧嘴走人，可主人自然要小心翼翼算一笔账。就像盛大的婚礼之后，新人们通常要忙着计算收了多少红包一样。
　　毫无疑问，这次希腊人亏大了。英国《卫报》称，奥运将为希腊带来60亿欧元的财政赤字，美联社的数字为80亿美元，希腊官方数字为65亿美元（投入87亿美元，收益22亿美元）……数据各 有不同，不过，希腊亏钱是可以肯定的。奥运之后，希腊甚至极可能一举成为欧盟最大赤字国。
　　奥运会好是好，可一涉及到具体的数字就很烦人。开幕式上的梦幻演出，建设场馆的挥金如土等，事后很容易被人认为是打肿脸充胖子，或者是花钱找抽。
　　另有数据称，因为举办2000年奥运会，悉尼的亏空也达40亿美元之多。
　　办奥运竟然会亏本，而且会亏如此之多？这大概是我们想不到的。我们平日所听到的，都是奥运会是可以挖掘出无数财富的金矿，奥运会还可以帮助举办国创造经济奇迹。就在几天前，新华社还发了一篇数千字的宏文，预测四年后的北京奥运“钱景”光明。
　　我不敢预测四年后的“钱景”，我却可以想像以中国人的气魄，北京奥运必定会办成一届空前绝后的盛会。一系列的“最”将出现，就像我们的全运会、省运会每次都生产出无数个“最”一样。我还敢断言，我们的开幕式肯定会办得比雅典好。只要愿意花钱，什么事情办不到？
　　雅典奥运落幕之际，人们开始展望北京奥运。其实， 4年之后的北京是用不着展望的，城市将更现代，中国代表团将创造更好的成绩，这些都将变成现实——因为大规模的城建早已开始，超大规模的体育场馆建设也已开始，而国家体育总局所有的工作都是围绕2008年奥运进行的。
　　我的期盼是，北京是否采取措施，以避免出现类似悉尼、雅典之类的亏空？我们虽不指望通过举办奥运会赚钱，却也不希望它带来损失。有人说，以现代奥运会的庞大规模，已经不适宜在像希腊这样的小国举办。而像中国这样的经济大国，商机无疑会更多。这当然有一定的道理。不过，奥运会并非只是体育，还是一项生意。亏了本，老百姓受影响，他们照样会不高兴。我对北京奥运的惟一要求是：别亏本。

kclaulau

General Announcement

Reference No PH-080328-4786B

Company Name	:	PARKSON HOLDINGS BERHAD
Stock Name	:	PARKSON
Date Announced	:	28/03/2008

Type	:	Announcement
Subject	:	Announcement by Parkson Retail Group Limited ("Parkson Retail") - Acquisition of 49% interest in Xi'an Shidai Parkson Store Co., Ltd ("Xi'an Shidai Parkson")
Contents	:	We attach herewith the announcement to The Stock Exchange of Hong Kong Limited ("The HKEx") by Parkson Retail, a 55.53% owned subsidiary of the Company listed on The HKEx, in relation to the acquisition by Parkson Retail's wholly-owned indirect subsidiary, Parkson Retail Development Co., Ltd from Shaanxi Shuangyi Petroleum and Chemical Company Limited of 49% equity interest in Xi'an Shidai Parkson (the remaining 51% equity interest in Xi'an Shidai Parkson is currently held indirectly by Parkson Retail). Xi’an Shidai Parkson is the owner and operator of the Parkson department store located at Shidaishengdian Edifice, West Street, Xi’an, Shaanxi Province of the People's Republic of China

kclaulau

打折大佬百盛今起歇业 年内有望挪窝新张
日期：2008-4-1 11:29:19

    百盛是谁？“那个打折买得你手软的百货商场。”这是红网论坛上一位网友对百盛百货的定义。而从今日起，这个以打折为主要营销手段的马来西亚知名百货品牌在长沙的惟一门店将歇业。
   
    据记者了解，百盛商场与物业方的合同租约到期、部分小业主高昂租金要求或是导致百盛“挪窝”经营的重要原因。
   
    ３月３１日下午２点，芙蓉广场负一楼百盛商场，前来购物的消费者并不多，但销售服务员们显得异常忙碌，把商品从货架上撤下装箱。大大小小专柜都挂出“限时抢购”、“全场清货”的广告牌，打折促销的最高折扣甚至达到１－２折。
   
    而商场内提示牌上用醒目字眼显示，“积分卡会员返券正在进行中，礼券于３月３１日前使用，过期作废”字样。
   
    “今天是营业的最后一天，明天百盛就要搬出这里，另找地方。”一名服务员告诉前来购物的消费者。
   
    三方矛盾爆发？
   
    百盛迁址的具体原因是什么？将迁到什么地方？歇业多长时间？记者试图采访百盛商场负责人，但售后服务部门和总服务台均以“负责人不在”或“不方便透露”为由拒绝接受采访。
   
    一位业内知情人士昨日接受本报记者电话采访时透露，百盛歇业与其销售好坏其实没有太大关系，主要是与其物业方——益友的租金问题未能达成协议，最后不得不出此下策。
   
    该知情人士告诉记者，停业的真正原因是由三方之间的矛盾难以调和引起的，业主之前从开发商湖南益友置业公司手中购买经营场所即摊位，然后湖南益友公司又从业主方返租，再租给百盛商场，由于租金年年上涨，百盛商场虽然赚了钱，大头却支付给了益友公司，而作为投资方的业主方却未能从益友高速增长中获得相当的回报，因此三方矛盾一触即发。
   
    少数业主难倒百盛？
   
    百盛商场物业方、湖南益友置业发展公司董事长李忠民在接受记者采访时表示，“有关益友方面提高租金导致百盛歇业”的说法是不准确的。李忠民强调，此次百盛歇业的真正原因是“极少数拥有商场物业产权的业主在租约到期后，大幅提高了租金要求”导致“百盛方面无法承受而被迫择址营业”。
   
    百盛商场租赁芙蓉广场负一楼场地营业，而该物业之前被开发商湖南益友置业发展公司作为产权式商场公开发售。“我们是统一返租给百盛经营。”李忠民说，统一租赁合同于今年３月到期。
   
    “我们特别想将百盛留下来。”李忠民说。为此，益友曾出面和拥有产权的众多商场业主进行协商，“９０％的业主同意了百盛提出的条件，但有不到１０％的业主不同意，他们提出了比原有租金高得多的条件，而这是百盛方面难以接受的。”
   
    或今年１０月重新开张
   
    在多次协商无果后，百盛方面于是采取歇业“挪窝”的方式另找地方择机开张。“我们也在帮百盛物色新的物业。”李忠民说，“百盛肯定会在长沙继续经营。”
   
    李忠民说，芙蓉广场负一楼原百盛经营场所将被改装成为一个“综合性商场”——即９０％左右的面积由品牌商家统一经营，其余部分则由那１０％的业主自主经营。“新的综合性商场”将于６月重新开业。
   
    一位不愿透露姓名的知情人士表示：百盛计划最迟将在今年１０月１日重新开张，但具体地点尚不清楚，相信新址不会走出五一商圈。
   
    相关链接
   
    百盛简介
   
    2002年1月百盛百货进驻长沙市场在，其是马来西亚金狮集团旗下百盛百货在中国发展的第29家连锁店。在市场上，百盛显然不是一匹黑马，但也创造了一个不小的奇迹：仅8000平方米营业面积实现年销售额1.17亿。因为是长沙“打折力度最大的商场”，百盛在长沙赫赫有名。

kclaulau

Notice of Shares Buy Back - Immediate Announcement
Reference No PH-080401-7155E  

Company Name : PARKSON HOLDINGS BERHAD  
Stock Name  : PARKSON

Date Announced : 01/04/2008
Date of buy back : 01/04/2008

Description of shares purchased : Ordinary shares of RM1.00 each
Total number of shares purchased (units) : 100,000

Minimum price paid for each share purchased (RM) : 6.200
Maximum price paid for each share purchased (RM) : 6.350

Total consideration paid (RM) : 634,285.60

Number of shares purchased retained in treasury (units) : 100,000
Number of shares purchased which are proposed to be cancelled (units) : 0

Cumulative net outstanding treasury shares as at to-date (units) : 100,000
Adjusted issued capital after cancellation (no. of shares) (units) :  

Remarks
&copy; 2008, Bursa Malaysia Berhad. All Rights Reserved.

kclaulau

Notice of Shares Buy Back - Immediate Announcement
Reference No PH-080402-55E59  

Company Name : PARKSON HOLDINGS BERHAD  
Stock Name  : PARKSON

Date Announced : 02/04/2008
Date of buy back : 02/04/2008

Description of shares purchased : Ordinary shares of RM1.00 each
Total number of shares purchased (units) : 100,000

Minimum price paid for each share purchased (RM) : 6.600
Maximum price paid for each share purchased (RM) : 6.650

Total consideration paid (RM) : 664,886.25

Number of shares purchased retained in treasury (units) : 100,000
Number of shares purchased which are proposed to be cancelled (units) : 0

Cumulative net outstanding treasury shares as at to-date (units) : 200,000
Adjusted issued capital after cancellation
(no. of shares) (units) :

Remarks

&copy; 2008, Bursa Malaysia Berhad. All Rights Reserved.

xzm

Hmmm....難道大股東年初套現香港百盛集團的目的，就是為了回購自己的股票？有趣有趣。。。