Friday, 14 January 2011

A Brief Look at Parkson Holdings Berhad

Parkson Holdings Berhad

Business Description:
Parkson Holdings Berhad is a Malaysia-based investment holding company. The Company, along with its subsidiaries, is principally engaged in the operations of the Parkson brand department stores. The businesses are located in the People's Republic of China, Malaysia and Vietnam. The Company has a chain of 85 Parkson department stores, with 35 in Malaysia, 44 in China and 6 in Vietnam. The Company's subsidiaries include East Crest International Limited, Parkson Vietnam Investment Holdings Co Ltd, Parkson Properties Holdings Co Ltd, Prime Yield Holdings Limited, PRG Corporation Limited, Parkson Venture Pte Ltd, Serbadagang Holdings Sdn Bhd and Sea Coral Limited.


Year     DPS    EPS
2003     0.4    -50.6
2004     0.4     42.6
2005     2.8     79.7
2006     0.4    -94.5
2007     0.0      -8.9
2008   14.9     25.3
2009     5.0     25.4
2010     6.0     27.89
1Q11  10.0      7.28    NTA 1.97




Announcement
Date
Financial
Yr. End
QtrPeriod EndRevenue
RM '000
Profit/Lost
RM'000
EPSAmended
15-Nov-1030-Jun-11130-Sep-10656,485130,3507.28-
24-Aug-1030-Jun-10430-Jun-10620,370113,8235.46-
24-May-1030-Jun-10331-Mar-10753,897154,7958.15-
23-Feb-1030-Jun-10231-Dec-09709,319145,8477.90-


Current Price (1/7/2011): 5.90
2010 Sales 2,722,256,000
Employees: 6,700
Market Cap: 6,517,000,760
Shares Outstanding: 1,104,576,400
Closely Held Shares: 851,255,339

Estimated EPS for 2011 = ttm-EPS = 28.79 sen
At Current Price of 5.90, its projected PE for 2011 = 5.90 / 0.2879 = 20.5 x

Historical
5 Yr
PE range 13.3 - 28.2
DY range 1.8% - 0.7%

10 Yr
PE range 8.3 - 18.5
DY range 1.2% -0.5%

Capital changes
2007    4 to 1 Capital Reduction
2009   1/100 Treasury Share Distribution

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