Maxi-Cash Financial Services Corporation

[sportsinvestment]

Whats the code for this? Only listed in Singapore?

[CityFarmer]

Whats the code for this? Only listed in Singapore?

code? Yahoo code is MAXI-CASH FINANCIAL SERVICES CO (5UF.SI)

Yes, it is ONLY listed in SGX Singapore

[CityFarmer]

The Maxi-Cash share price cross below S$0.40 today. Price move down to S$0.39 at volume of approx 4 Mils shares

While pending for financial report on 6 Aug, will Mr Market valuation become more reasonable in near future?

[CityFarmer]

Maxi-Cash announced its 1H FY2012 financial report

http://info.sgx.com/webcorannc.nsf/Annou...endocument

Revenue up 35%, operating profit up 93%, net profit attribute to owner up 483%, if compare 1H2012 vs 1H2011 (pre-IPO)

EPS is 0.72 cts, NAV is 21.18 cts, interim dividend of 0.5 ct

Base on today closing price S$0.415, PE is 29 and PB is 1.9, dividend yield 1.2% (with only interim dividend, with final dividend pending? )

Is Mr Market value it with a fair price? For me, it is still expensive

Any view?

[Musicwhiz]

Sounds like more and more people are getting deeper in debt?

*For the fulll article, please visit the website.

The Straits Times
www.straitstimes.com
Published on Aug 30, 2012
Pawnbrokers reeling in big catch
Larger chains doing good business on growing pool of younger customers

By Jessica Lim

IN TOUGH economic times, at least one business is rolling in the dough.

In just one year, not only have pawnbrokers nearly doubled their loan figures, they are giving out larger loans, adding shops, and expanding their customer services - such as hiring gem specialists and installing mood lighting.

Industry veterans say the explosive growth is being driven by bigger, modern pawnbroking chains that attract a growing pool of younger customers.

Other factors include competitive interest rates, and the two casinos in Marina Bay Sands and Resorts World Sentosa.

Figures reported this month by the Registry of Pawnbrokers showed that the industry last year gave out loans totalling close to $5 billion, up 80 per cent from the previous year's numbers.

The corresponding number of pledges, however, rose by only 17.5 per cent - an indication that larger loans are being extended.

Figures from the first four months of this year, save April, show a similar uptrend.

The pawnbroking business has been doing well in recent years - ever since the economic turmoil of 2008. That year, there were 114 pawnbroking outlets here.

Now, there are 185.

Maxi-Cash, which started its business here in 2009 and now has 24 outlets, said it has seen an 80 per cent growth this year, compared with last year's figures.

"People no longer feel embarrassed going into one. We're viewed more like banks," said senior brand manager Magdalene Eng, who added that the chain would be opening four more new outlets this year.

The chain has also seen an increase in the number of customers in their 30s over the past year. They now form 30 per cent of their clientele, up from 15 per cent in 2010, Ms Eng said.

These customers tend to take out bigger loans - for the down payment of their homes or cars, for example. Many also turn in diamonds instead of gold, prompting the chain to hire a gem specialist last month.

At 15-outlet ValueMax, operations director Yeah Lee Ching attributed its 30 per cent growth this year to a widening base of younger customers and the two casinos, which she said added "one-off customers pawning items to continue their gambling habits" for the firm.

ValueMax also recently spruced up several of its outlets, including installing warm lighting to make them more customer-friendly.

The swift trade is particularly surprising because it is happening amid softening gold prices, usually a signal for slower business, the pawnbrokers said.
-------------

[wsreader]

I would much prefer to read manufacturing is the bright spot in our economy rather than pawnbroking business.

[CityFarmer]

Maxi-Cash starts to reward its shareholder, few months after IPO

The Board of Directors of Maxi-Cash Financial Services Corporation Ltd is pleased to announce that the Company is proposing a bonus issue of up to 59,200,000 new ordinary shares in the capital of the Company, on the basis of one (1) Bonus Share credited as fully paid for every five (5) existing ordinary shares held by the shareholders of the Company

http://info.sgx.com/webcoranncatth.nsf/V...E00348E4A/$file/ProposedBonusIssue.pdf?openelement

[natnavi]

Maxi-Cash starts to reward its shareholder, few months after IPO

The Board of Directors of Maxi-Cash Financial Services Corporation Ltd is pleased to announce that the Company is proposing a bonus issue of up to 59,200,000 new ordinary shares in the capital of the Company, on the basis of one (1) Bonus Share credited as fully paid for every five (5) existing ordinary shares held by the shareholders of the Company

http://info.sgx.com/webcoranncatth.nsf/V...E00348E4A/$file/ProposedBonusIssue.pdf?openelement

Wow! That is really "nice and generous" of them.

Seriously, I do not understand this move. Their share price is so low, and they still want to split their stock.

Though I am not vested, I am hoping to own a part of this company when I see the top management doing something more for their shareholders rather than just rewarding themselves.
(not vested)

[CityFarmer]

Maxi-Cash starts to reward its shareholder, few months after IPO

The Board of Directors of Maxi-Cash Financial Services Corporation Ltd is pleased to announce that the Company is proposing a bonus issue of up to 59,200,000 new ordinary shares in the capital of the Company, on the basis of one (1) Bonus Share credited as fully paid for every five (5) existing ordinary shares held by the shareholders of the Company

http://info.sgx.com/webcoranncatth.nsf/V...E00348E4A/$file/ProposedBonusIssue.pdf?openelement

Wow! That is really "nice and generous" of them.

Seriously, I do not understand this move. Their share price is so low, and they still want to split their stock.

Though I am not vested, I am hoping to own a part of this company when I see the top management doing something more for their shareholders rather than just rewarding themselves.
(not vested)

The "reward" is ONLY added liquidity of the company stock, all else are the same. It is rather un-usual to do it just few months after IPO IMO.

[Musicwhiz]

A bonus issue is purely cosmetic.

What's more important is how the business will fare moving forward. This info can be found in the MD&A and also the future prospects discussion.

(Not Vested)