Composite index also on fire

@Greg

Goods news for you!

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AEON Credit mulling bonus issue: Sources

PETALING JAYA (April 24, 2012): AEON Credit Service (M) Bhd, which saw its revenue and net profit grow by 27.7% and 50.7% year-on-year, respectively, in the financial year ended Feb 20, 2012 (FY12), is mulling a bonus issue to improve the stock's liquidity, said sources.

"The company may seek the approval of its shareholders under a special resolution at the forthcoming annual general meeting (likely to be in June) for the proposed bonus issue," a source told SunBiz yesterday.

Another source said AEON Credit is likely to offer a one-for-one bonus issue of equity shares to reward its shareholders and to help improve liquidity of the stock.

"A bonus issue doesn't really change the fundamentals of the company because the share price and earnings per share get adjusted accordingly after the issue. It's more of a psychological effect among retail investors that are favourable to such issues on the ground that they expand the base and bring down prices and, hence, make the shares more affordable," said the source.

An OSK Research Sdn Bhd analyst said: "If they were to go ahead with a bonus issue, it would be a positive move to retail investors as liquidity is one of the concerns of AEON Credit."

In its report on the counter last Friday, OSK maintained a "buy" call on AEON Credit at RM8.74, with a higher fair value of RM9.98 from RM7.20 previously as it believes the company is still in its high-growth phase "which will contribute to net profit growth of at least 20% in each of the next three years".

Since then, AEON Credit's share price has shot up by about 10% in two days to end at RM9.62 yesterday.

OSK has bumped up its FY13 revenue and net profit forecasts for AEON Credit by 14.5% and 24.5%, respectively, largely due to robust growth in its consumer durable financing and personal loan business.

"Risk-wise, we believe that given AEON Credit's prudent risk management policies and portfolio management strategies, it would be able to keep its non-performing loan ratio below 2%," said the research firm.

"We (also) continue to like AEON Credit's collaboration with AEON Co (M) Bhd given the solid brand loyalty it enjoys from its 900,000-odd members in the AEON member programme (previously called J Card member programme), which will provide AEON Credit with a solid base to tap on," it added.

"Also, we think that AEON Co's rebranding exercise may somewhat benefit AEON Credit as members may be more likely to register for AEON's credit card when renewing their AEON Card (previously J Card), provided there are cross-selling efforts at the card renewal counters," said OSK.

As at Feb 20, 2012, the number of AEON Credit's total principal credit cards in circulation stood at about 160,000.

You have also aaarrrrrrrrr?

Me too, and I have the urge to chase now, should I

Haha so true

I will be following yewwwww~~

Nothing to cash out, so I save up my bullets every month, till D-Day!

Another upcoming IPO is IHH (Integrated Health Holdings)

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By the way, thanks for your Mopiko on this morning

The best way is to remove it from watchlist, no see no feeling

This post has been edited by panasonic88: Apr 24 2012, 03:54 PM

Did a quick google, Felda Global IPO on May 10.

my money not dry yet

Sounds mission impossible?

Yah Cherroy, first time apply IPO, are you gonna give me Ang Pow?

Felda = Cash Cow, mooooooo

Yah the 10 May date was written by Btimes back in February....

June is better, June is better

Aiyor me small fries only, don't have that big "hat".

When was your very last time apply IPO, cherroy?

Alex Lu's stock pick (long time no see!)

http://nexttrade.blogspot.com/2012/04/some...o-consider.html

Entering May next week

See you at RM25

Reason for buying back?

RM25 to RM26 for this year.

TP revise UP every year.

When Dlady was RM18, nobody give a damn on her

Dutch Lady RM1.30 dividend will EX on tomorrow.

You buy today you get divvy. Tomolo no more liao.

PIE 39c divvy approved.

Ex-date 23.5.12

Ka-ching!

Poor labbit

Dividend game is a no-brainer game, IMO. (suit for me )

Every year same pattern.

I just bought last month or so. RM4.88

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Nestle Q1 report looks good

Ahh correct. Coldeye has PIE too. For long term investment. Eat divvy yearly will do.

This company has the ability to give 1 for 2 bonus issue, but boss said at the moment won't implement et. Not to mention, PIE is another cash cow. Happy investing!