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Old 13-02-2018, 08:20 PM   #166
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http://www.businesstimes.com.sg/comp...n-flat-revenue
Courts Asia Q3 profit falls 28% on flat revenue
Tue, Feb 13, 2018 - 8:11 PM Wong Kai Yi kaiyiw@sph.com.sg

ACROSS a grim retail environment, Courts Asia reported a drop of 28.7 per cent in net profit to S$3.51 million for its third quarter ended Dec 31, from a restated profit of S$4.92 million a year ago.
The drop in profit was mainly due to lower credit sales in Malaysia as a result of the country introducing the Consumer Protection (Credit Sale) regulations which came into force Jan 1, 2018.
Courts Asia's group chief executive Terence O'Connor said capping interest rates at 15 per cent per annum, coupled with a challenging retail environment, will impact sales in the short term.
"The operations and sales team had to be trained to meet the new regulations and this also had an impact on credit sales," he said, adding that the company will need to take some "difficult decisions" which include reviewing the closure of underperforming stores.
"The focus will be on driving productivity with an optimal store footprint for Malaysia," Dr O'Connor said.
Courts also said the credit collections environment continues to be "challenging" in Malaysia.
The electrical, IT and furniture retailer said its Q3 FY16/17 comparative figures have been restated from previously announced figures in the Q3 FY16/17 announcement to take into account retrospective adjustments arising from the adoption of FRS 115, and reclassification of expense line items.
For the three months ended Dec 31, revenue was mostly flat, edging up 0.6 per cent to S$186.8 million from the year-ago period, the retailer said in an earnings statement on Tuesday night.
Revenue from Singapore, which contributes to some 72 per cent of group revenue, increased 8 per cent to S$134.5 million in the third quarter, helped by higher sales of goods from the relaunch of its online platform and the reopening of the Courts Megastore at Tampines in November 2017.
Malaysian revenue - which contributes to 24.3 per cent of turnover and is counted in Malaysian ringgit - slid 15.9 per cent on a year-on-year basis in Q3 FY17/18, mainly due to lower sales and earned service charge income, the group said.
Earnings per share fell to 0.68 Singapore cent from 0.96 Singapore cent in the previous year. Net asset value per share crept up to 44.5 Singapore cents as at Dec 31, from 42.5 Singapore cents nine months ago.
In the earnings statement, Dr O'Connor said despite the overall "muted" retail environment across its key markets, the group was optimistic on the long-term outlook.
"(We) will continue to focus on our profitability by managing costs and productivity and investing in growth areas," he said.
The group also announced the appointment of Stan Kim as group chief operating officer, who will also be responsible for helming the Malaysian business until a new country CEO is found. The former Malaysia country CEO, Dolf Posthumus, will take on the role of Malaysia COO.
Courts Asia shares finished at S$0.29 apiece, up S$0.01 or 3.6 per cent on Tuesday.

price link: http://www.shareinvestor.com/fundame...counter=RE2.SI
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Old 13-02-2018, 08:44 PM   #167
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Refrain from thread digging and demand to change the thread title unless you're the TS. Any digging of old thread will result in infraction.

Please take note, no further reminder before I take action against thread digging and PM to demand title change, you are not my boss.
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Old 13-02-2018, 09:59 PM   #168
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@Jupiter2017

Refrain from thread digging and demand to change the thread title unless you're the TS. Any digging of old thread will result in infraction.

Please take note, no further reminder before I take action against thread digging and PM to demand title change, you are not my boss.
Apologies, Mod.
I am not making any demand,
just requesting to change the existing thread title from 'Courts Asia IPO' to 'Courts Asia *Official* (SGX: RE2)'.
I only have the best of intentions for this forum.
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Old 13-02-2018, 11:29 PM   #169
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Apologies, Mod.
I am not making any demand,
just requesting to change the existing thread title from 'Courts Asia IPO' to 'Courts Asia *Official* (SGX: RE2)'.
I only have the best of intentions for this forum.
Commach ain’t the friendliest mod around.
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Old 13-02-2018, 11:40 PM   #170
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Commach ain’t the friendliest mod around.
Nothing to do with friendliness, there is a official guideline in changing thread title, emphasized in moderator AGMs.

Yes, even if spotted error or typo, we won't change the title. We have no idea whether the error/typo are intentional or not. Title can be change with acceptable reasons, especially requested by TS, the creator of the thread. If someone change the title of your composition without asking you, will you be happy about it?
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Old 14-02-2018, 12:06 AM   #171
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kudos to Jupiter for updating the latest results
don't see what is wrong with that
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Old 14-02-2018, 12:34 AM   #172
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Nothing to do with friendliness, there is a official guideline in changing thread title, emphasized in moderator AGMs.

Yes, even if spotted error or typo, we won't change the title. We have no idea whether the error/typo are intentional or not. Title can be change with acceptable reasons, especially requested by TS, the creator of the thread. If someone change the title of your composition without asking you, will you be happy about it?
We have different views despite what the official guidelines say.
Thanks for not infracting Jupiter though.

Jupiter2017, might wanna consider just starting a new thread instead since the changing title route isn't working.
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Old Yesterday, 08:35 PM   #173
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@Jupiter2017

Refrain from thread digging and demand to change the thread title unless you're the TS. Any digging of old thread will result in infraction.

Please take note, no further reminder before I take action against thread digging and PM to demand title change, you are not my boss.
With regards to thread digging, my idea is to have a consolidated thread for each stock, just like in ValueBuddies.

Perhaps a particular stock has little interest so the thread sinks, but what if suddenly there are major developments and there is a spike in interest ? Should a new thread be started or continue from the previous old thread (which means, digging it out) ?
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Old Yesterday, 09:07 PM   #174
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法律且无情且有情,在与人。
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