Pappajack is an investment holding company. The principal activity of all of Pappajack’s subsidiaries are that of licensed pawnshops.


Public issue of 167,000,000 new ordinary shares (“Shares”) in Pappajack allotted in the following manner:

33,400,000 Shares made available to the Malaysian Public;

6,680,000 Shares made available to the eligible employees and persons who have contributed to the success of Pappajack and its subsidiaries;

83,500,000 Shares by way of private placement to identified Bumiputera Investors approved by the Ministry of International Trade and Industry; and

43,420,000 Shares by way of private placement to selected investors.



Pajak Gadai to Bursa Malaysia

This post has been edited by nexona88: Aug 9 2022, 06:25 PM

Here's the prospectus exposure.


Attached File(s)
 Papajack_Berhad_Prospectus_Exposure.pdf ( 3.63mb ) Number of downloads: 668

Interesting proceeds.


Attached thumbnail(s)

If priced at good valuation possibly good hold

Question is the dividend policy

Nah.

no good???

now with EMCO most places... many having financial issues...
later when all open up, sure good business for this Pajak Gadai

Who knows? When got time i read its prospectus.

Didn't know pawnshop also can be listed.

Then give your opinion..
Good or not..

Alternative opinion is well needed 🙏

Gonna all-in for this after failing Ramssol and CTOS

I worked in a pawn shop before, good margins definitely, lowballing those desperate people, lying to them their goods not valuable

Interesting...
Mind sharing the margin normally how much 🤔

looks goooddd
i like this kind of utilisation.

better than using it to pay off their loans....

no idea the exact % since I was just a front desk worker working part-time during my studies time.

I have seen my boss bought over a Rolex vintage watch for less than RM5k many years ago, pretty sure that's worth a lot now

It's okay...
Whatever... Owner always ahead then customer... Profit first 😁

ipo price 30sen

MITI pappajack result is out...

Ini Shariah compliance ke or haram habis

i think non syariah compliance lah... ✌✌

Not sure..

But since it's offered in MITI
😬

Possible is Halal 😋🤪

MITI will offer shares but not necessarily syariah compliant. Depends on the individual. Its like a muslim working in alcohol factory ..

at the moment its non compliant.... they din apply for Syariah Compliant.. i called them and seek about this...

Wrong information

Sorry 🙏

So it's non shariah

This post has been edited by nexona88: Feb 23 2022, 10:02 PM

TQ .. i will skip this one...

Because of the non shariah status??
Or any other reason?

🤔🧐

Yes Non Shariah... and many other selection coming

Ooh. Okays..

Your choice...
Others might not consider it as factor..

Different people different objective 🙏

This post has been edited by Pinvader: May 17 2022, 04:04 PM

30c sounds like a goreng counter..

It is meant for it

kedai pajak good ROE, if have consistent good dividend pay, then can keep for long term.

Closing on 18 March 👍

Ace Market & 30c
Buy Buy Buy mode is on 😆

I think 1st pawnbroker to be listed right? PAT 27% for FYE20? Gearing ratio 0.01??

ini licence punya ah long

wah lau ...what said you

It's all about connection 😋

Nothing else matters...

AS long as the cable is strong with the housing minister licensing will never be an issue

Smart answer 👍
This what I'm thinking too 🙂

Previously was Azmin crony until Sabri decided to get hold of it and fall back to UMNO

Even Tony from AA can get the license easily which shows corrupted Malaysia government is with pawnbroking and money lending license and rob and steal from the desperate and poor

Both also sama geng..
Whatever...

U can only survive if there's some connections in Malaysia..
That's how business works..
Hard sad truth 🥺

This counter boleh profit ka? The first pawnbroker listed, don't have any other same company business to compare with, except for our neighbouring country.

These are 3 companies doing same/similar business and listed on the SGX.
(1) ValueMax PER 5.56X
(2) MaxiCash 6.24X
(3) MoneyMax 3.69X

There are 3 companies doing same/similar business and listed on the SGX.

(1) ValueMax - PER 5.56X
(2) MaxiCash - PER 6.24X
(3) MoneyMax - PER 3.69X


Pappajack @ RM 0.30 is selling at a PER of 24.39X

24.39/3.0755 (latest SGP exchange rate), so its about 7.93, so it is higher than the peers in SGP.

Can make money ah ?

Connection is not enough. Many people can get connected. The key is Money is King! Then all the way!

Hmm..
Logical point too 😁

Connection + money is good combo 💪

Bro those companies are not comparable. Although they are pawnbrokers they focus more on retailing of jewelry. Look at the business segments. And they also accept other forms of pledges such as other commodities or valuable it3ms which prices are more volatile. I believe Pappajack does gold only which is very stable

Just passby pappajack pawn shop at Sri Muda... Ful house bro... Haha

Average PE for pawnbroker stocks in US arnd 20

Different bro. That's a developed nation. In Malaysia there are more individuals who require these micro financing. That's why should command a higher PE.

No one us pawnbrokers unless they are on their last dime in US

Good businesses....
Especially in those areas..
Desperate of $$...

They strategically locate their shops bro from my observation. I coincidentally passby Klang bus station this morning & also found out one of their shop there

I think once listed, ppl hv more confidence to go to their shops since its a public entity. Create gd perception for them oso

You are right Bro. Had a few relatives used their services before. Feedback very good. Very genuine, honest and friendly.

Why for first time in the ever this ipo no show in here?

https://www.bursamalaysia.com/listing/listi...ipo/ipo_summary

Hmm...
U got see who majority at the branch?
More locals or foreigner? 🤔

Haha... Need to park in front of their shop and do the statistics... Btw, i think there's a chance the IPO will be undersubscribe since Bumi can't participate..

The question is what will happen if undersubscribe & nobody want to subscribe the leftover? Cancel/postpone the IPO??

Hehehe....

Don't think would be undersubcribe...
Worse come worse.. low oversubscribed....
So everyone who applied get the shares they want 🎉💰🤑

Nowadays...
Whatever rubbish IPO.. also hot demands..
This one Ace Market.... Even better to speculate & play / ride...

This post has been edited by nexona88: Mar 17 2022, 05:07 PM

halo why no target price
chin chai lah, I be the 1st to
kasi tp 0.88cts on listing day
when semua orang takut is the
best time to hoot

Ace finance stock

TA gave 0.34 as fair value

Okay lorh..
At least something 😁

apply liao ma youuuu?

wat...34cts only
ceh..chin chai chin chai also must be 0.63cts mah

look san or look pat
ini macaam baru sui sui bor chow chui

prefer 67 sen or 69 sen.

number like that sure bring more ong to the pawn shop.

not a fan of business like this or the valuation.

but given that it is in the ace market, might wanna hoot a bit and see if lucky enough.

RHB RM0.39



This post has been edited by msbr91: Mar 18 2022, 01:20 PM

This ipo got appear in miti or not?

Ace market must apply one 😁

Yeah already appeared.

haha okla, then i also apply small small lahhhh
join the party. gud luck!

Good decision 😚

Hope for the best 🙏

I mean if not shariah, ppl still can apply in miti?

because i dunno how miti work, pls enlighten

SC will come out with the list of shariah counter 2 times a year i.e. In June and December. Then we will know the shariah status of Pappajack

Yes people still can apply even it's not syariah. It's up to the individual to apply or not. Plus there are non-bumi Muslim from Sabah & Sarawak.

Correction..

Non Muslim Bumiputra...

Non Bumi cannot apply MITI..
Even if u Muslim... ie. Mualaf... Only ASB funds 😁

Wish all applicants here good luck

doesnt matter is lok sang lok pat lok chat or lok kau
as long as this mau can tangkap a tikus
we dun care dia hak mau , fei mau, hong mau or pak mau

Pornstar in the making. Can buy some for dividend gains 😋

Anybody here have balloting result

ann chua... result out oreli or not
wat Bank the fastest
ini kali lah, huat arggghhhh

Another hot ipo
Seems more hot than Farm Fresh Milk

Sur3 hot bro. Their performance sure improve since our economy is opening up. No mco. Just imagine with more cash they can generate more profit. Very very lean business model brother.

Considered good d given the current geo political situation. But 100% no negative impact on pawnbroking industry. On the contrary, only upside.

Depends if you are successful anot. Should get a notification

Calling bullshit on this. As much as I find farm fresh valuation as being optimistic at least there is a lot of room for growth in the form of export market and diversification of dairy products.

But a freaking pawnshop?
You're at the mercy of market sentiment. With epf withdrawal allowed frequently and becoming a norm, I don't see much growth or opportunity in the pawnshop market. Seems very limited.

CIMB result out since 8pm.

Hello brother. BS is subjective. I agree with you that FFB has growth opportunities.

But look at pawnbroking, withdrawing EPF is a last resort. If you been through financial hardship withdrawing your compulsory savings is done only if you have no choice. The 1st choice is to sell your valuables.


With pawnbroking, they give you an alternate solution by lending you based on your collateral and to redeem it back at the expiry of the pawn. Alot of under b40 Malaysians actually use this method to bridge their financial gaps temporarily. Furthermore, with the listing of Pappajack, it create more awareness and transparency for their services. They will also be lots of new opportunities opportunities in the capital market ie. raising funds or potential M&As. This will actually put Pappajack ahead of its competitors.

Also now I noticed that lots of watch traders use their services to roll their capital to purchase new watches. As those rolexes are increasing in value, it's so convenient to utilise pawnbroking services. I'm not sure how long is the warch market gona last but surely this would be a new avenue of income for Pawnbrokers

Collateral secured one with gold , jewellery
70 - 80 sen ?

Gold price keep going up

Their main income generating segment is pawnbroking which give them a gp margin of close to 70%. The sale of pledges is just a process for them to recover their cash and to issue more loans.

The main factor for the margin of the sale of pledges is the timing to sell the pledges. But from the prospectus I noticed there were limited auction available due to the movement restriction for them to sell the pledges so they can't timely match the gold price. But now with the opening of the economy, they will be able to secure better margin for selling the pledges. Surely they will out perform in 2022 given that there is no more movement restriction and with the new funds raised from ipo

Anyone strike? Still no news from MBB

Strike jackpot ?

Chanace for Bumi at 50%
and non-bumi at around 10%

Look likes this hot IPO Pappajack to go through the roof

Share floating only 25%

Luck is not with me. KO.

Congrats to those who strike

ann chua tis one ada hope or not

18 cts , 28cts , 38 cts , 48 cts , 68 cts or 88 cts

mana satu betul

This post has been edited by pileepalah: Mar 28 2022, 01:07 PM

48 sen - 88 sen
In % term Better than farm fresh

Sure it's 88c lorh 🤑💰