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KUALA LUMPUR (June 24): Parkson Holdings Bhd (KL:PARKSON), whose shares have climbed 24.4% since June 19, has a new substantial shareholder in Irelia Management Sdn Bhd.
According to Parkson’s bourse filings on Tuesday, Irelia Management acquired 78.3 million shares or a 6.815% stake in the department store operator via open market transactions between June 20 and 24.
No price tag was disclosed on the shares traded, however, based on respective closing prices on which the shares were traded, the block was valued at RM18.6 million.
Based on a filing with the Companies Commission Malaysia, Irelia Management is wholly owned by NTG Holding Ltd.
NTG Holding is the asset holding company of the NTG Strategy Fund SP offered by private equity and alternative asset management firm AEI Capital Group, according to NTG Holding’s website.
Parkson’s largest shareholder is its chairman and managing KUALA LUMPUR (June 24): Parkson Holdings Bhd (KL:PARKSON), whose shares have climbed 24.4% since June 19, has a new substantial shareholder in Irelia Management Sdn Bhd.
According to Parkson’s bourse filings on Tuesday, Irelia Management acquired 78.3 million shares or a 6.815% stake in the department store operator via open market transactions between June 20 and 24.
No price tag was disclosed on the shares traded, however, based on respective closing prices on which the shares were traded, the block was valued at RM18.6 million.
Based on a filing with the Companies Commission Malaysia, Irelia Management is wholly owned by NTG Holding Ltd.
NTG Holding is the asset holding company of the NTG Strategy Fund SP offered by private equity and alternative asset management firm AEI Capital Group, according to NTG Holding’s website.
Parkson’s largest shareholder is its chairman and managing director Tan Sri Cheng Heng Jem, with a 54.57% stake.
Shares in Parkson ended half a sen or 2% higher at 25.5 sen, valuing the company at RM286.87 million. Year-to-date the stock is up 18.6%.
Sri Cheng Heng Jem, with a 54.57% stake.
Shares in Parkson ended half a sen or 2% higher at 25.5 sen, valuing the company at RM286.87 million. Year-to-date the stock is up 18.6%.
indeed, jackie. I am also hoping the board will consider to unlock the value of PHB by delisting PRA - 100% of its net income and cash flow to flow directly into PHB. It makes no sense to list PRA anymore since Indonesia and Vietnam ops are no longer in the picture and PRA's assets are Parkson stores/malls in Malaysia.
From my point of view, this mgmt is already incompetent, whether from a business perspective or a shareholder’s perspective.
If you simply compare their performance with other competitors, it’s very clear that they are performing below the industry average.
Like Revenue decline in the Malaysia market is worse than peers.
As an investor, I have zero trust on management’s bla bla bla explanations for the recurring huge impairments every year. Across the whole market, this is the only retail company that 100% reports a massive impairment in Q4 across 12 years.
haha, It’s like getting caught cheating by my girlfriend 12 times in a row, and every single time I come up with a different excuse.
that is understandable, restia :) I treated it as seasonal stock whereby q4 is risk off mode - go defensive, zero cost/rebalance and avoid adding position while q1 & q2 is risk on mode - go offensive, adding position. my personal opinions could be biased as I have been holding it since 2023; zero cost twice and avg up twice. I am on risk off mode for q4 as usual. However, there is a new variable of Irelia being the new substantial shareholder changing the supply and demand landscape; still observing and may impact how risk off and risk on mode performance. just my personal opinions, could be wrong :)
The future of Parkson in Malaysia is very bright at the moment. As a supplier in retailing to most major departments store in Malaysia .. Parkson is heading the right direction.
