Maxi-Cash Financial Services Corp *Official* (SGX: 5UF)

[tarui04]

Aspial requested for a trading halt today and this news release came out at 7pm+ regarding the maxi cash IPO

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_238F26BE49F3C7FD48257A1B003EB938/$file/MCPressRelease.pdf?openelement


comments?


IPO prospectus out..


IPO prospectus

http://info.sgx.com/webipo.nsf/6bb750ded0ac3f93482574d4002bc92b/2c57b3879ed2ab3248257a1c000ede8e/$FILE/Maxi%20Cash%20Final%20Offer%20Document%20dd%2012%20Jun%202012.pdf

 

[kebinu]

Using the same pattern as Fragrance to generate more money?

Huat to those who vested. I prefer Fragrance personally as it has been volume and liquidity.

 

[tarui04]

looks abit different frm what they are doing at the moment, (aspial and fragrance)
maybe got potential..

 

[kebinu]

Different business but common blood in them. Charts move similar pattern too.

 

[Carnage]

Both CEOs are brothers although Fragrance is not under Aspial.

Aspial owns some jewellery chain right?

 

[kebinu]

Yes that's right.

 

[navarro_t]

Proposed dividends of at least 60.0% (including scrip dividends) of net profits
attributable to Shareholders for FY2012

hmm...the net profit for FY2011 is S$3.1million....hmmm

 

[kebinu]

hmm...the net profit for FY2011 is S$3.1million....hmmm

56 million shares at 30 cents each. Dividend is 16% Liao??!

 

[scar/ace]

the one where mark eer

 

[Paul Lee]

56 million shares offered for IPO does not represent the entire share float after listing.

The post-invitation share capital is 296 million (prospectus pg 43)

Means estimated DPS at 60% net profit = 0.63c or 2% yield.

Still sounds good?

I'm not even sure its worth a stag. Catalist listing are notoriously difficult to predict.

 

[kebinu]

56 million shares offered for IPO does not represent the entire share float after listing.

The post-invitation share capital is 296 million (prospectus pg 43)

Means estimated DPS at 60% net profit = 0.63c or 2% yield.

Still sounds good?

I'm not even sure its worth a stag. Catalist listing are notoriously difficult to predict.

Thanks. I heard over the radio about 56 million shares total but only what 25k will be in the market.

HAHA. Good to learn all these today.

 

[tarui04]

Thanks. I heard over the radio about 56 million shares total but only what 25k will be in the market.

HAHA. Good to learn all these today.

25k?
iirc it's ard 2325lots for public only

 

[Some-one]

With such a short history of profitable years, I would avoid it. Doesn't it seem like Maxi Cash is going for IPO using its latest profitable Financial Year as a selling point? How would one even know if next year or subsequent years would be profitable as well? I remember Mary Chia go for IPO after it makes huge profit for one year but subsequently, it make losses. The same thing may happen to Maxi Cash. Caveat Emptor.

 

[Carnage]

56 million shares offered for IPO does not represent the entire share float after listing.

The post-invitation share capital is 296 million (prospectus pg 43)

Means estimated DPS at 60% net profit = 0.63c or 2% yield.

Still sounds good?

I'm not even sure its worth a stag. Catalist listing are notoriously difficult to predict.

Almost 33% premium above NTA per share. Overpriced much.

 

[Hyruga]

Is that a pawn shop?

How did pawn shops make so much money???

Dont they have to pay rentals, utilites, staff? Dont their inventories depreciate with time?

What are they even selling???

 

[Paul Lee]

Some more figures to digest to add on to what some-one and carnage has said.

NTA = 20.3c after listing.

FY 2011 revenue = 87 million; gross profit = 3.5 million, gross margin = 4%
net profit = 3.1 million, net margin = 3.5%

This clearly shows the pawnbroking biz is cut-throat with such razor-thin margin, it does not take much for the result to swing into negative in subsequent years.

Total shareholder equity = 47.5 million
Total debt = 91.3 million
Total asset = 143.875 million

 

[Dividends Warrior]

During recession, people pawn more things?

 

[Wood4]

First go Bata then go to school .

First go Maxi Cash then go casino ?

 

[maliciousmonster]

all along I thought pawnshop, pawn people gold and sell it when gold price is high?

 

[dX__Xb]

Just wondering does foreigner require any supporting doc to pawn anything at the pawnshop? As local require 2x IC to pawn anything. Hope someone could enlighten me on this.