【AEONCR 5139 交流专区】永旺信贷

傻人最有傻福

                               

傻人最有傻福

Historical Price Data
Date	Open	High	Low	Close	Volume
20080821	3.200	3.260	3.200	3.220	56,000
20080820	3.220	3.260	3.220	3.260	44,500
20080819	3.200	3.220	3.200	3.220	31,200
20080818	3.240	3.240	3.200	3.200	45,000
20080815	3.280	3.280	3.220	3.260	27,800
20080814	3.280	3.280	3.260	3.260	11,000
20080813	3.200	3.280	3.200	3.280	22,200
20080812	3.240	3.260	3.240	3.240	14,000
20080811	3.280	3.280	3.260	3.280	65,000
20080808	3.260	3.260	3.240	3.260	17,600
Previous 2 weeks (25 Jul 2008 to 07 Aug 2008)	3.220	3.380	3.200	3.240	799,500
Previous 4 weeks (27 Jun 2008 to 24 Jul 2008)	3.500	3.580	3.200	3.320	781,700

傻人最有傻福

Entitlements (Notice of Book Closure)

Reference No CC-080910-36198

Company Name	:	AEON CREDIT SERVICE (M) BERHAD
Stock Name	:	AEONCR
Date Announced	:	25/09/2008

EX-date	:	10/10/2008
Entitlement date	:	14/10/2008
Entitlement time	:	05:00:00 PM
Entitlement subject	:	Interim Dividend
Entitlement description	:	Interim Dividend of 8.76 sen per share less 25% income tax in respect of the financial year ending 20 February 2009
Period of interest payment	:	to
Financial Year End	:	20/02/2009
Share transfer book & register of members will be	:	to closed from (both dates inclusive)  for the purpose of determining the entitlements
Registrar's name ,address, telephone no	:	Symphony Share Registrars Sdn Bhd Level 26 Menara Multi-Purpose Capital Square No. 8 Jalan Munshi Abdullah 50100 Kuala Lumpur Tel: 03 27212222
Payment date	:	24/10/2008
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	:	14/10/2008
b. Securities deposited into the Depositor's Securities Account before12:30 pm in respect of securities exempted from mandatory deposit	:
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.	:
Number of new shares/securities issued (units) (If applicable)	:
Entitlement indicator	:	RM
Entitlement in RM (RM)	:	0.0876

Mr.Business

更新: September 26, 2008 18:10

派股息擴市場
永旺信貸前景佳

報導：邱佩勛

（吉隆坡26日訊）永旺信貸（AEONCR，5139，主板金融）首半年淨利超越市場預期，加上誘人股息及開拓市郊和鄉村新市場，前景讓人期待。

該公司截至8月20日首半年淨利，在汽車簡易付款（MEP）業務帶動下按年大漲67.5%，高于市場預期。

多家證券研究機構看好，下半年多個佳節料續推高永旺信貸業務需求，給予“買入”建議。

肯納格證券研究指出，該公司次季呆賬率從首季的2.05%，改善至1.83%，歸功于審慎信貸政策及有效率信貸管理。

“借貸成本更低、營運效率提高，也進一步推高次季稅前盈利。”

該行說，配合年底佳節需求，在預期銷量及淨應收款項的強勁成長推動下，下半財年前景可期。

該行在報告指出，新產品如“執行現金”（針對更高收入群的個人融資產品）料也激勵業績成長。

肯納格證券研究指出，永旺信貸透過簡易付款計劃，開始滲入聯邦土地發展局（Felda）國內開墾區市場，預計人口達70萬人。

該行指出，大部分墾殖區市場未被銀行業者發掘，這部分潛在誘人市場已開始反映在業績上。

擬進軍印度

亞歐美證券指出，除了亮麗成長前景，永旺信貸也大方派出誘人且有望延續的中期股息，每股派息8.76仙。

“首半年派息率佔淨利約36%，讓股東可即時享有2.8%股息回酬。”

該行上修09至2011年淨利預測，但鑑于市場疲弱，因此維持目標價格。

黃氏星展維克斯證券研究則認為，永旺信貸未來額外“驚喜”或來自海外業務，包括正籌備進軍的印度市場。

受各種利好激勵，該股今早起2仙，以3.10令吉迎市，呈窄幅揚升格局；休市揚6仙，掛3.14令吉，半日共18萬7000股易手。

閉市時，永旺信貸報3.12令吉，起4仙，成交量56萬6500股。

http://www.chinapress.com.my/con ... mp;art=0927bs03.txt

Mr.Business

业务获全面改善　永旺信贷财测上调
二零零八年九月二十六日 晚上七时五分

（吉隆坡26日讯）亚欧美投资银行已将永旺信贷服务（马）有限公司（AEONCR）09至11财政年度的净盈利预测调高7.5至14.4%，但由于普遍疲软市场趋势，它将维持其目标价于4.30令吉不变。

该投资银行称，一旦市场因素改善，该股的目标本益比将有望上调。

除了提供卓越成长潜质，永旺信贷也在支付慷慨且稳定中期股息方面达到最高标准。

该公司已建议派发每股8.76仙的中期毛股息，较亚欧美投资银行的预测来得高。

上述相等于09财政年上半年净盈利36%的派发率，回馈约2.8%的周息率予股东们。

加上其现有股价，已让它比2007年杪上市时的2.50令吉招股价，录得26%的股东回馈总额。

永旺信贷宣布录得2150万令吉净盈利，相等于67.5%的按年强劲成长，达到亚欧美投资银行09财政年度之前预测的49%。

该投资银行称，这项业绩已经超出预测，主要是拜所有核心经营，尤其是摩托车简易付款业务的持续良好表现所赐，而且信用卡业务的亏损也已经趋低。

永旺信贷09财政年上半年的经营收入成长强于收益成长，因效率已经提升以及融资成本降低至4.62%（08首半年：4.93%）。

鉴于摩托车简易付款业务的强劲成长（+22.7%），毛交易收款较08财政年杪增加11%，使它继续占了毛收款的43%份额，比较信用卡为19%、个人融资8%以及普通简易付款30%。

由于6月汽油价格上涨，促使摩托车销售持续蓬勃。

亚欧美投资银行称，永旺信贷的活回收记录使它拥有一个非常健康的呆帐比例，从08财政年杪的2.05%再降低0.22百分点至1.83%。

更有利的是，其准备金不只涵盖了逾3个月欠款的100%坏帐，同时也包括了2个月拖欠债务的19%。

http://www.kwongwah.com.my/news/2008/09/26/95.html

Mr.Business

8.76sen的股息是很吸引，不过我对她的生意模式有疑问。。。

AEON CREDIT REPORTS STRONG SECOND QUARTER RESULTS, UP BY 61% FROM 2007

AEON Credit Service (M) Berhad posted a net profit of RM11.39 million for the second quarter ended 20 August 2008, up 61% from a net profit of RM7.09 million for the same quarter of 2007. For the six months ended 20 August 2008, net profit of RM21.52 million was up by RM8.67 million or 68% as compared to RM12.85 million in 2007.

Total revenue for the quarter was RM44.82 million, up 22.2% compared with total revenue of RM36.66 million during the corresponding period of 2007. Similarly, total revenue for the first half of the financial year of RM87.14 million represented growth of 23.2% over the previous year. The revenue increase was attributable to higher demand for its credit card, Easy Payment and other consumer financing products during the period.  Successful promotion activities were conducted in collaboration with its wide network of participating merchants as well as suppliers and national distributors of branded goods. Also, the increase in fuel price during the period served to further increase demand for the Company’s consumer financing schemes.

The ratio of Profit Before Tax (PBT) against revenue had improved to 34.4% for the second quarter of 2008 from 26.5% in the same quarter of 2007. One of the main contributing factors for the improved performance was the reduction in AEON Credit’s Non-Performing Loan (NPL) ratio from 2.21% in the second quarter of 2007 to 1.83% in the second quarter of 2008. The lower NPL ratio is a reflection of the Company’s continued prudent credit policy and effective credit management efforts. The Company also managed to further lower its cost of borrowings through various means, including funding from the debt capital market.

The ratio of revenue growth which exceeded increase in operating expenses due to improved operational and manpower efficiency, also contributed to the improvement in the results of the Company.

Naruhito Kuroda, Managing Director of AEON Credit, commented, “The Company expects the second half of the financial year to be a challenging period in an economic environment of cautious consumer spending, relatively high inflation rate and reduced growth expectations.

Nevertheless, the Company expects to improve its performance based on our business strategies as our credit card, Easy Payment and other financial services are targeted more towards purchase of consumer necessity
products. We have systems in place to enable us to provide efficient customer service to cater for the anticipated increase in demand for our financial products and services during the upcoming festive seasons as well as enhance quality of customer service. Traditionally, the demand for our products increase in the second half year due to the festive periods.” (Please refer to graph 1.2 Track Record of Profit After Tax)

AEON Credit’s Board of Directors have declared an interim dividend of 8.76 sen per share less tax, payable on 24 October 2008. The gross dividend declared is 62% higher than the interim dividend in the previous year (including a special dividend paid) while the net interim dividend to be paid represents dividend payout ratio of 37% against the net profit for the six months ended 20 August 2008.

Mr.Business

投资AEON Credit要谨慎。。。

Harley-Davidson Slips on Subprime Consumers
By Matthew Boyle
October 27, 2008

Not long ago, a national marketing campaign from motorcycle maker Harley-Davidson (HOG) addressed the sputtering economy with a heavy dollop of devil-may-care attitude. The tag line: "Screw It. Let's Ride.

Harley seems to have applied the same logic to its loan portfolio. In a pattern eerily similar to the housing bust, the $5.7 billion Milwaukee company used its in-house finance unit to chase after subprime borrowers, making it easy for them to buy $20,000 hogs with no money down. The risky lending—which forced Harley to take a $6.3 million write-down amid rising default rates and decreasing interest among buyers for its securitized loans—could foreshadow problems in other industries. Companies from retailers to blue-chip manufacturers such as Caterpillar (CAT), Deere (DE), and Boeing (BA) used finance arms to pump up sales and maintain an additional profit stream.

Harley-Davidson Fin-ancial Services (HDFS) has for years aggressively pitched retail bike loans to subprime borrowers, who now hold nearly a third of them. Now there's concern that the problems at HDFS could jeopardize the parent company's pristine credit rating. (BusinessWeek went to press before the company reported third-quarter results on Oct. 16, in which analysts expected earnings per share to decline 26%.) While acknowledging the "difficult environment," Harley spokesman Bob Klein says the subprime portion of the HDFS loan portfolio has remained between 25% and 30% since 2004. "Overall, the portfolio is very high quality," he says.

HDFS offers loans both to retail customers and Harley dealers, who finance the bikes that sit in their showrooms. Dealers can also earn incentives in the form of lower interest rates if they push a certain percentage of customers' loans and motorcycle insurance to HDFS. "We'd be crazy not to use [HDFS]," says Mark Barnett, a high-volume Harley dealer in El Paso, Tex., who says 83% of the new bikes he sells are financed through the unit. While HDFS made 38% of all retail loans for Harleys five years ago, that proportion now exceeds half.
ROARING GROWTH FOR HDFS

With credit markets frozen, Chief Executive James Ziemer faces some tough decisions. RBC Capital Markets analyst Edward Aaron argues that investors "need to know how [Harley] will raise capital to fund this business." BMO Capital Markets analyst Edward Williams says Harley is more vulnerable to a downturn because it "aggressively went after a lower-quality borrower" to gain market share against other lenders.

Indeed, between 2003 and 2006, the percentage of HDFS borrowers paying 15% or more in interest—an indicator of credit risk—increased from 8% to 19%, according to company reports. HDFS' share of Harley's operating income also grew to more than $200 million, about 15% of the company total, up from 7% in 2000.

The first sign of danger came early last year, when RBC's Aaron warned investors that loan delinquency rates were rising faster than normal, to more than 4%. While Harley trimmed production in response to slowing sales, it continued to go after marginal borrowers with promotions like 2007's "Stick it to the Man" campaign, which offered zero money down and teaser interest rates as low as 2.9%.

As long as HDFS could package loans and sell them as securities to investors, the strategy worked. In the first quarter of 2008, though, HDFS was forced to retain $54 million in loans no investor would touch. Even fewer buyers stepped forward in the second quarter as loan delinquencies kept rising.
SALES DOWN, JOBS CUT

Harley's finance arm has taken some steps to tighten lending to subprime customers. And its beefed-up loan collection staff is making more calls on weekends and evenings to chase down deadbeats. Klein says credit "may be less accessible" to customers with low credit scores and that HDFS has reduced its no-money-down financing offers, reserving them for the most creditworthy customers.

Softening demand for discretionary items such as motorcycles has exacerbated the woes at Harley's credit arm. Harley's U.S. retail sales were down 8.7% in the second quarter, and the company axed 730 workers earlier this year, its deepest workforce cut since the 1980s. Robust international growth rates are expected to weaken as the economic crisis spreads abroad.

Harley told investors last quarter that it remains committed to lending "across a broad credit spectrum," but analysts wonder how much longer the commitment to risky borrowers will last. "On one hand, you don't want to lose too much market share," says a buy side analyst. "But on the other hand, quite simply, you don't want to keep up your sales by extending credit to people who might default on payments."

A bright spot for HDFS is the particularly strong resale market for used Harleys just now, according to recent data from the National Automobile Dealers Assn. That reduces the severity of loan losses if HDFS is forced to repossess motorcycles. "The good thing about Harleys is they don't decline wildly in value," says Barnett, the Texas dealer.

Unfortunately, that can't be said of Harley-Davidson stock. The shares have lost half their value over the past two years.

http://www.businessweek.com/maga ... ex+-+temp_companies

大理石

2.56 很多天了,都是在這里排回, 應該可以開始收票來等

Mr.Business

我个人不以为RM2.56是好价钱。

弹煮

等我老板下班后我开chartnexus来帮大家把脉一下

大理石

謝謝高手愿意指點.

弹煮

你不就是上次KNM的粉丝？？
怎么没在KNM帖子发表？？

大理石

高手還記的我,我很高興 ! 我的KNM 變"長期投資"了...哈哈!!

弹煮

原帖由 大理石 于 9-12-2008 05:23 PM 发表
高手還記的我,我很高興 ! 我的KNM 變"長期投資"了...哈哈!!

偶当然记得你  当时偶买KNM-CA也是因为你

傻人最有傻福

原帖由 弹煮 于 9-12-2008 05:38 PM 发表

偶当然记得你  当时偶买KNM-CA也是因为你

然后亏还是赚？？？

傻人最有傻福

General Announcement

Reference No CC-081209-54312

Company Name	:	AEON CREDIT SERVICE (M) BERHAD
Stock Name	:	AEONCR
Date Announced	:	09/12/2008

Type	:	Announcement
Subject	:	AEON CREDIT SERVICE (M) BERHAD (THE "COMPANY") - DEALING BY DIRECTOR IN SECURITIES DURING CLOSED PERIOD
Contents	:	Pursuantto Paragraph 14.08(c) of the Listing Requirements of Bursa MalaysiaSecurities Berhad, AEON Credit Service (M) Berhad wishes to inform thatDato' Abdullah Bin Mohd Yusof, the Independent Non- Executive Chairmanof the Company, has disclosed the following dealings in the Company’sshares during the closed period:
Announcement Details : Name of Registered Holder(s) Nature of interest (Direct/ Indirect) Date transferred Type of securities Number of securities transferred Price transacted per share (RM) Percentage of issued securities transferred (%) Dato' Abdullah Bin Mohd Yusof Direct 9 December 2008 Ordinary shares of RM0.50 each 50,000 0.042

© 2008, Bursa Malaysia Berhad. All Rights Reserved.

大理石

為什麼是因為我 ?我還記得你賺到一點..
請吃啦...~~

傻人最有傻福

哈哈哈.....可能姐姐要感谢你

弹煮

当时是买7分，卖11分

弹煮

原帖由 大理石 于 9-12-2008 05:51 PM 发表
為什麼是因為我 ?我還記得你賺到一點..
請吃啦...~~

因为你讲bonus买一送二，很好康，我就冲进去买了一点，然后很神奇的一天上一分，最后我卖了。