Popular Holdings

I was reading the AR 2011 today. Under Notes 33, page 118, employee benefits is almost 78m, does anybody have any idea why it has to pay so much for staff salary?

u may downland the AR from here http://popular.listedcompany.com/ar.html

thanks in advance

How many employees are there in all the stores, all over the world...? Based on 1.5k (ave incuding CPF and bonus) x 12 = 18k, 78m can support 4333 employees. Of course one store manager can cover 10 of those, while a CFO can easily cover 100 of those.

(05-04-2012, 09:14 PM)money Wrote: I was reading the AR 2011 today. Under Notes 33, page 118, employee benefits is almost 78m, does anybody have any idea why it has to pay so much for staff salary?

u may downland the AR from here http://popular.listedcompany.com/ar.html

thanks in advance

You can try to estimate the monthly salary per staff taking into account the following,

- On the same page, subtract $5.5Mil (Key Management Personnel)
- Use 13-14 months for salary to include bonus + AWS (Singapore)
- Pg 28 says 139 Retail Outlets across Singapore, Malaysia, HK
- Need to estimate and include no. of staff for non-Retail biz + Support staff eg. Admin, Accounts, Logistics

Finally, conclude if that $78Mil/yr is reasonable. Good Luck!

The Stock continues to move up yesterday to close at 0.184.

(05-04-2012, 09:14 PM)money Wrote: I was reading the AR 2011 today. Under Notes 33, page 118, employee benefits is almost 78m, does anybody have any idea why it has to pay so much for staff salary?

u may downland the AR from here http://popular.listedcompany.com/ar.html

thanks in advance

Interesting question. I am also blur

According to the Income Statement a) Distribution and selling expenses amount to 14.8m b) Administrative expenses 51m and Other expenses 1.6m

(02-04-2012, 10:47 PM)KopiKat Wrote: To borrow some TA terms, $0.18 (Sell Price on 8-Feb) is no more the Resistance and $0.17741 (Buy Price on 30-Mar) is now the Support.

The support is now $0.179 (Buy Price on 5-Apr). This time round, the buy volume is lower (250 lots vs 3173 lots on 30-Mar), so support may not be as strong. Let's see if support is being raised again today.

The support is now $0.182 (Buy Price on 11-May). Vol = 256 lots.

On a separate note, today, Vol = 2592 lots is heavier than normal and the Price Range = $0.181 to $0.188, closing at $0.186. I wonder if my fav Old Man is in action??

Old man bought shares today at 18.2c!

Interesting transactions,

15:03:57 0.185 81,000 X
14:39:54 0.188 4,935,000 X

But, not providing much support as last transacted price is $0.185 with Buy / Sell = $0.184 (126) / $0.187 (30)

(16-05-2012, 04:42 PM)KopiKat Wrote: Interesting transactions,

15:03:57 0.185 81,000 X
14:39:54 0.188 4,935,000 X

But, not providing much support as last transacted price is $0.185 with Buy / Sell = $0.184 (126) / $0.187 (30)

Confirmed it was Old Man buying yesterday, but perhaps married deal is ineffective in a market full of fears? Suggest he put 100-200 lots at a time into the Buy Q next time if he wants to get it cheap. But then again, he seems to be in a hurry to buy a lot!

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I was curious to see who could be the seller of this large block of 4,935 lots. From AR11, there were 9 others who're holding more than this amount (of course, there could have been changes since 8-Jul-11) and compare it with AR10. There was a new entrant to the Top 20 List - MELLFORD PTE LTD at No.3 (16,556,000 Shares). Further searches in the internet reveals that Mellford is related to the descendants (Chew Family) of Mr Tan Chin Tuan and have holdings in Straits Trading, WBL, UEL, Hotel Royal, MSC... As Popular Holdings is not one of their core holdings, that's my GUESS.

As it's a married deal, the price could have been agreed upon the day before when prices closed at $0.19 or Old Man is agreeable to pay a premium over tumbling market prices for laying his hands on such a big block.