Mary Chia Holdings

A quick look at the latest 1H-FY13 (ending 31Mar13) results.....
http://info.sgx.com/webcoranncatth.nsf/V...6003BE607/$file/MCH_HalfYearResult_30092012_F.pdf?openelement
gives me a feeling that this is not the kind of business or company I can readily accept. The B/S is also showing scores of weakness.

well, it was listed at 23 cents, closed on its first day at 34 cents, currently trading at 5.5 cents. Wild roller coaster ride. All the hype during IPO has all disappeared.

People are always easily sold, i bet the many uncles and aunties who went to IPO mary chia would probably have made statements like, "Women's money is most easily earned cos they like to stay pretty" but they fail to take into account that running a business incurs expenses in the form of rental, staff salary, faces competition, etc. i still remember they got vicki zhao as an ambassador, i wonder how much mary chia spends on advertising with no decent payback

(26-11-2012, 11:18 AM)money Wrote: i wonder how much mary chia spends on advertising with no decent payback

From AR 2011:

A&P expenses for 2011: $1,546,102, revenue for 2011: $17,842,576 = 8.7%

A&P expenses for 2010: $1,485,826, revenue for 2010: $14,089,783 = 10.5%

Their A&P expenses as a proportion of revenue has actually dropped.

perhaps if they advertise more agressively, the percentage of A&P to revenue can drop further and can bring in more revenue, then there's a chance of rebound in share price

Update. 

Mary Chia Holdings Limited refer to the announcement dated 8 June 2016 regarding the breach of Section 5(1) of the Employment of Foreign Manpower Act (Chapter 91A) by Spa Menu Pte. Ltd. for employing a foreign employee for whom the work pass had yet to be issued by the Ministry of Manpower.

Further to the Announcement, the Board wishes to announce that the State Courts of Singapore has, on 16 June 2016, imposed a fine of S$5,000 on Spa Menu Pte. Ltd. for the Breach. With the payment of the fine, the case has been concluded.

As at the date of this announcement, Spa Menu Pte. Ltd. continues to operate its business as usual.

<not vested>

Sold to third party:

http://infopub.sgx.com/FileOpen/Offer%20...eID=468384

Congrats to those who bought over the past year. Never would have thought there would be an offer to buy the company. It looked like it was about to go bust.

'The Group has been operating within a challenging environment and in the latest financial
year ended 31 March 2017, the Group incurred net losses amounting to approximately S$5.7
million and as at 31 March 2017, the Group was in a negative working capital position of
approximately S$10.3 million.'

(24-08-2017, 09:18 PM)karlmarx Wrote: Sold to third party:

http://infopub.sgx.com/FileOpen/Offer%20...eID=468384

Congrats to those who bought over the past year. Never would have thought there would be an offer to buy the company. It looked like it was about to go bust.

'The Group has been operating within a challenging environment and in the latest financial
year ended 31 March 2017, the Group incurred net losses amounting to approximately S$5.7
million and as at 31 March 2017, the Group was in a negative working capital position of
approximately S$10.3 million.'

Interesting....Sushi company bought a slimming business..... Sushi is overweight....

(24-08-2017, 09:18 PM)karlmarx Wrote: Sold to third party:

http://infopub.sgx.com/FileOpen/Offer%20...eID=468384

Congrats to those who bought over the past year. Never would have thought there would be an offer to buy the company. It looked like it was about to go bust.

'The Group has been operating within a challenging environment and in the latest financial
year ended 31 March 2017, the Group incurred net losses amounting to approximately S$5.7
million and as at 31 March 2017, the Group was in a negative working capital position of
approximately S$10.3 million.'

not exactly "third party" and more like within the family (Suki's boss is son in law of Mary Chia) - seems like some kind of succession planning in progress?

Interestingly, the company is venturing into Direct Selling. If somehow manages to replicate Best World's success in Taiwan, perhaps it could turn its fortune around ?

--------------

https://links.sgx.com/FileOpen/MCH%20FY2...eID=805312
"...Concurrently, the Group have also launched its new Anti-Aging Skin Care Product, JUVE, by Organica International Holdings Pte Ltd (a wholly-owned subsidiary “Organica”) in Singapore, Taiwan and Malaysia from March 2024 as a Direct Selling venue. In May 2024, Organica management successfully attained the Taiwan direct selling license and collaborated with the Taiwan direct selling team to start generating sales for the Group. ..."

Looking at the issues, I don't think it gives a lot of confidence to stakeholders e.g. shareholders, business partners.

I wonder if mgmt has considered/explored privatization especially if it can better facilitate turning the ship around.

--------------------

https://links.sgx.com/FileOpen/MCHL_Resp...eID=809662