MoneyMax Financial Services

[CityFarmer]

The 2nd listed pawnbroker... I started a new thread, with its virgin announcement...

Please note the following: -
1. The above shares will be granted listing and quotation in the Official List of SGX-Catalist. Trading in the shares will commence on
"Ready" basis with effect from 9.00 a.m., Friday, 2 August 2013.
2. The short name is "$ MoneyMax Fin" and the abbreviated name is "MONEYMAX". The ISIN Code is SG2G06995143.
3. The shares will be quoted in board lots of 1,000 shares. Settlement for trades in the shares will be effected by book entries in the
securities accounts which buyers and sellers must maintain with The Central Depository (Pte) Ltd ("CDP").

http://infopub.sgx.com/FileOpen/MoneyMax...eID=250227

[felixleong]

46 cents for over 50% gain!

[CityFarmer]

46 cents for over 50% gain!

The company valuation is PE 27 and PB 2.9 with market price of $0.445, I am amazed by Mr. Market valuation on pawnbrokers.

MaxiCash valuation is PE 47 and PB 3.0, with market price of $0.46.

Banking and Finance Sector average is only PE 11, and PB 1.6

(not vested)

[GPD]

The over-subscription for this IPO is the highest I see so far. The public love this baby.

I did expect it to hit at least as high as 44cts within its first day to match Maxi-cash's first day PE on its closing price since it is so over subscribed and Rex's (which has loads of potential but hasn't proven to be able to generate positive and impressive income) previous day IPO rally. This suggesed to me that Mr Market is hungry for some positivity in the Market. What I didn't expect is that it open at that price. Thought might be able to gain some overseas holiday money. Not a chance!

All it needs to do now is to follow Maxi-Cash footstep to do bonus issues one within this year and one earlier year.

Its EPS is better than Maxi-Cash, so if Mr Market rate this the same as Maxi, we may not see the end of it (note I am not recommending anything here. dydd).

I am rather interested to understand why PE can be so wide range from low single digit to something over 30-40+

[felixleong]

yeah, S-Chips are only selling for about 5 times earnings lol

[CY09]

In the market, there are always pockets of mis-valuation. Its up to us investors to spot it.

If you see on SGX, some stocks are trading at 2-3x their trailing P/E or 0.2-0.3x of their reported book value. Again, its up to us investors to analyse and spot the future and not rely mainly on past data points

[GPD]

yeah, S-Chips are only selling for about 5 times earnings lol

Risky to stay long with most of the S-chip. Btw, why are they called S-chip?

In the market, there are always pockets of mis-valuation. Its up to us investors to spot it.

If you see on SGX, some stocks are trading at 2-3x their trailing P/E or 0.2-0.3x of their reported book value. Again, its up to us investors to analyse and spot the future and not rely mainly on past data points

Seems to me
low PE = long play and pray for Market to recognise it potential for a re-rate
high PE = shorter play too much embedded risks.

[CityFarmer]

I am rather interested to understand why PE can be so wide range from low single digit to something over 30-40+

I would assumed that both Maxi-Cash and MoneyMax were valued base on PB, rather on PE, by Mr. Market. It makes sense with their valuable assets.

Both were valued around PB 3, which is still high IMO, comparing with bank and finance sector average PB

(not vested on both)

[mkmk]

http://infopub.sgx.com/FileOpen/MNT_Esta...eID=259613

ESTABLISHMENT OF S$300,000,000 MULTICURRENCY MEDIUM TERM NOTE PROGRAMME


Didn't expect them to require more funds now.

Not vested.

[CityFarmer]

First financial report from the company, after listed in Aug 2013

3Q's net loss after tax is 0.9 mil, and YTD 9 months' net profit of 0.8 mil is 81% lower YoY. Net profit margin is less than 2% YTD.

Does the performance justify the current market valuation?

(not vested)

Ref: http://infopub.sgx.com/FileOpen/Q3-2013_...eID=264364