Kingsmen Creatives

[Musicwhiz]

While I do not profess to be an expert on such matters, isn't there an explicit obligation upon Director's of listed companies to disclose to the SGX their share trandsactions within a matter of days (rather than weeks or months)? And this is for good reason?

There is a point of principle here.

Yeah good point. Perhaps you can email the IR on this and ask?

[RBM]

While I do not profess to be an expert on such matters, isn't there an explicit obligation upon Director's of listed companies to disclose to the SGX their share trandsactions within a matter of days (rather than weeks or months)? And this is for good reason?

There is a point of principle here.

Yeah good point. Perhaps you can email the IR on this and ask?

Thanks MW. The e-mail is on its way to Kingsmen IR. I'll revert to this forum when I have an answer.

Vested

[valuestalker]

Looks like one single huge trade in Kingsmen shares has just been done - 5,700,000 (yes, five point seven million) shares at S$ 0.87 per share. I cannot recall any such single large trade in Kingsmen's recent history. I have no insights on this.

Vested

That is almost 3% of Kingsmen total issue share.
Interesting.

Now, I am very curious about the above humongous trade.
Is it going to be announced weeks or months after?
Anyway, if this is not substantial shareholder (more than 5%?), no announcement is required ya?

[Musicwhiz]

New mall, new tenants, new opportunities (for Kingsmen)?

Orchard Rd set to welcome new mall
19 March 2013 2349 hrs (SST)
http://www.channelnewsasia.com/stories/s...80/1/.html

SINGAPORE : Singapore's prime shopping belt Orchard Road is set to welcome a new mall, Orchard Gateway, around November this year.

Its marketing agent Savills said 80 per cent of the retail space has already been pre-committed.

And there will be a few new-to-market brands that will appeal to fashion-forward shoppers.

The mixed-development straddles both sides of Orchard Road and has 172,000 square feet of net lettable retail space.

Savills said the mall has managed to snag some big international names.

They include American chain Crate & Barrel, which will open its five-storey flagship store there, spanning over 20,000 square feet.

There is also multi-label fashion company I.T Hong Kong and Swatch - which will open its third mega store in Asia at Orchard Gateway.

Sulian Claire Tan-Wijaya, senior director at Savills, added: "Some of the other brand names will include J.Lindeberg, which is a fashion brand from Sweden. They will be introducing their ladies range for the first time in Singapore. There is also the US shoe brand Red Wings shoes - they will be opening their first concept store in Singapore.

"Also coming in to Orchard Gateway is Nike - they are introducing a new concept called Amplify women. We have also dedicated the entire fourth floor just for men, so it's...very much skewed towards men's fashion. There is also UK brand Religion, which has never been to Singapore.

To cater to younger shoppers, Savills said the mall also has up-and-coming fashion blogshops.

Aside from the retail offerings, Orchard Gateway also has 37,000 square feet of office space and a 500-room hotel.

Some analysts said nearly 2 million square feet of retail space will come on stream in Singapore this year - about 18 per cent of the space will be located along Orchard Road, with the rest to be built in the suburban areas.

In recent years, retail rents between malls in the regional centres and Orchard Road have narrowed.

CBRE said prime Orchard Road rents were around S$31.60 per square foot per month, compared to S$29.75 in suburban malls in the fourth quarter of last year.

Desmond Sim, associate director at CBRE Research, said: "The past two years, the rental premiums for Orchard Road and suburban malls, they have probably compressed from 20 over per cent to close to 10 per cent. Although the rents have been compressed quite a fair bit, at the end of the day, Orchard Road with the tourists influx still commands a premium."

Barring any unforeseen events, analysts expect retail sales to remain healthy this year, supported by tourism and domestic demand.

Ku Swee Yong, CEO of International Property Advisor, said: "Retailers should not have problems with getting the revenue part of the business in place, the issue in the past two years has been the curb on employment of foreigners, the foreign worker levy has gone up, foreign worker ratio has gone down, and so for the retail players, it is more of an issue of manpower and manpower cost."

Market watchers added that the labour shortage and increasing resistance against further rental increase from tenants will also affect retail rents going forward.

- CNA/ms

[sahara]

Good spot - thanks for the updates Musicwhiz

[RBM]

I have received an answer from Kingsmen IR regarding the delayed disclosure of the December and January share sales of Kingsmen Independent Director & Audit Committee Member Prabhakaran N. Nair.

Kingsmen's (polite and courteous) answer reads as follows (I have changed my name!) .......................

QUOTE
Dear Mr RBM,

With regard to our Independent Director Mr Prabhakaran‘s share transactions, we were only notified of it on Monday afternoon (18 March 2013). We immediately made the appropriate announcement to the Singapore Exchange.

We appreciate your raising this matter and would like to assure you that the Company takes every effort to disclose material information in a timely manner.

We have also reminded our Directors of their reporting obligations regarding share transactions.

Best regards,
Kingsmen IR
UNQUOTE

So it appears that this incident was entirely down to Director Prabhakaran‘s sloppiness and not in any way due to any wobbles in Kingsmen's administration. Apart from his sloppy paperwork, I'm also not overjoyed to see an NED having zero shares in the company - in my personal view, this indicates lack of commitment to the cause or confidence in the company. Just a personal view I'm expressing here.

With regard to valuestalker's 19th March p.m. posting regarding the material 5.7 Million (~3% of market cap) Kingsmen share trade done on 14th March, personally speaking, I doubt there is any connection with Director Prabhakaran. As there has been no disclosure to the SGX in the days following this material transaction, it looks like neither the seller or the buyer of the 5.7 Million Kingsmen shares is/was a shareholder owning > 5% of Kingsmen's shares or a Director/Senior Management Team member. Just my two cents on the subject.

Vested

While I do not profess to be an expert on such matters, isn't there an explicit obligation upon Director's of listed companies to disclose to the SGX their share trandsactions within a matter of days (rather than weeks or months)? And this is for good reason?

There is a point of principle here.

Yeah good point. Perhaps you can email the IR on this and ask?

Thanks MW. The e-mail is on its way to Kingsmen IR. I'll revert to this forum when I have an answer.

Vested

[Musicwhiz]

Hi RBM,

Thanks very much for the update!

[dydx]

Last evening I discovered by chance that Sacoor Brothers - a contemporary, stylish and high-quality brand of male/female clothing from Portugal - is a customer of Kingsmen. Sacoor Brothers has just opened a very nice 'outlet' store at Level 1 of IMM and, in its current launch promotion, the store is giving a special discount of up to 70% on some past seasons items, and very good discounts on other items. Fellow forumers who like quality clothings may like to pay a visit to the store this weekend.

Sacoor Brothers has its first and main store in Singapore in the Raffles City which was opened in May12, and this was followed by opening its main store in Malaysia in Pavilion, Kuala Lumpur, in Dec12. More info on Sacoor Brothers.....
http://www.sacoor.com/en/index.html
http://amadlaw.com/en/sacoor-brothers-ey...expansion/
http://chicprinceb.wordpress.com/2012/06...fles-city/
http://www.youtube.com/watch?v=4WujeUt5hw8

It looks like Kingsmen will benefit from Sacoor Brothers' current expansion plans in Asia...

[Salty]

Kingsmen's Magazine

http://www.kingsmen-int.com/wp-content/u...gazine.pdf

[dydx]

Kingsmen closed at a new high of $0.89 today (27Mar13), up $0.025, or 2.9%. It only took Mr Market a little effort - with a small volume transacted of 156 lots - to achieve that. At close of the market, the 'BUY' queue was so much larger and longer than the 'SELL' queue.

I guess Kingsmen's high quality has again spoken loud and clear!