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Just wonder what happen...price now at $0.075. Anyone knows
read and understand the company and business..and you will feel more confidence to take a position..if still not comfortable , do not participate....
MISCELLANEOUS
* Asterisks denote mandatory information
Name of Announcer * THAKRAL CORPORATION LTD
Company Registration No. 199306606E
Announcement submitted on
behalf of
THAKRAL CORPORATION LTD
Announcement is submitted with
respect to *
THAKRAL CORPORATION LTD
Announcement is submitted by * Anil Daryanani
Designation * Group Financial Controller
Date & Time of Broadcast 06-Nov-2009 17:08:33
Announcement No. 00059
>> ANNOUNCEMENT DETAILS
The details of the announcement start here ...
Announcement Title * Press Release - Results for Q3FY09
Description Please see attachment.
Attachments
Total size =
21K(2048K size limit recommended)
ThakralCorp_PR_Q3FY09_20091106.pdf
MISCELLANEOUS Page 1 of 1
http://info.sgx.com/webcorannc.nsf/vwprint_portal/A49A654002DDE4EF482576660029639... 06-Nov-09
Page 1 of 4
THAKRAL CORPORATION LTD
(Incorporated in the Republic of Singapore on 7 October 1993)
(Company Registration No. 199306606E)
PRESS RELEASE – RESULTS FOR Q3FY09
THAKRAL REPORTS NET PROFIT OF S$5.9 MILLION ON THE BACK OF 12% RISE IN
GROUP REVENUE TO S$327 MILLION FOR NINE MONTHS ENDED SEPTEMBER 30
-
Q3FY09
Singapore, November 6, 2009
(“Thakral” or the “Group”), a leading consumer electronics distributor with business in
strategic property and equity investments, continues its profitable performance - registering
a net profit of S$5.9 million for the nine months ended September 30, 2009, reversing the
S$9.7 million loss in the same period for FY2008. This is the third consecutive quarter of
profitable growth for the Group.
This was accomplished on the back of a 12% rise in Group turnover to S$327 million from
S$292.2 million in FY08 for the same period under review.
The Group also reported a net profit of S$1.8 million for Q3FY09, against a loss of S$3.1
million in the previous corresponding period.
The Group also maintained its sales level at S$114.9 million for Q3FY09 compared to
S$114.3 million in the previous quarter. Turnover for the quarter is 2% lower than the
S$116.7 million in Q3FY08.
On a quarter-to-quarter basis, gross profit margin for Q3FY09 was 4.1%, up from 2.8% in the
previous corresponding period, reflecting the Group’s success in expanding its brand
portfolio and product mix. Group gross profit margin for the nine months ended September
30, 2009 improved to 4.6% from 3.7% in the same period of last year, mainly due to better
margin on sales of electronic products in China.
Comparing on a quarterly basis, the gross profit margin of 4.1% achieved for Q3FY09 has
fallen from 5.3% in Q2FY09 due to a combination of higher cost of sales for the current
quarter and a change in the sales mix.
Group achieves net profit of S$1.8 million on sales of S$114.9 million for– SGX-MAINBOARD-LISTED Thakral Corporation LtdThakral Corporation Ltd
Company Registration No. 199306606E
Press Release – Results for Q3FY09
Page 2 of 4
Group net profit of S$5.8 million attributable to shareholders for the nine months under
review was a significant turnaround from S$9.3 million loss incurred in the previous
corresponding period. Out of this amount, 30% or S$1.7 million was earned during Q3FY09
while the previous quarter accounted for 59% or S$3.4 million of the Group net profit
attributable to shareholders.
Working Capital and Cash Flow
The Group maintained a healthy cash balance of S$116.2 million as at September 30, 2009,
although this is lower as compared to S$119.1 million at December 31, 2008. The decrease
is mainly due to the larger scale of business and introduction of new product lines which in
turn necessitate a higher level of inventories and trade receivables.
Earnings Per Share and Net Asset Value Per Share
The Group Earnings Per Share (from continuing and discontinued operations) for Q3FY09
was 0.07 cent reversing from a Group Loss Per Share of 0.11 cent for Q3FY08.
For the nine months under review, the Group Earnings Per Share was 0.22 cent compared
to a Group Loss Per Share of 0.35 cent for the previous corresponding period in FY08.
Group Net Asset Value Per Share also rose to 8.41 cents as at September 30, 2009 against
7.88 cents as at December 31, 2008 on the back of the recovery in equity markets especially
in Asia and the profit earned under the period under review.
Segmental Performance
Distribution
For the nine months ended September 30, 2009, the Distribution Division saw its turnover
increase by 12.4% compared to the same period in FY08 to hit S$325.4 million and
contributed to 99.5% of the Group’s revenues.
This division also saw a significant turnaround in its fortunes. It returned to the black with a
profit of S$5.7 million in the latest 9 months period from the loss of S$3.1 million in the
previous corresponding period. The segment profit includes S$1.7 million in damages,
interest income and legal costs recovery received in connection with the settlement of a
marine cargo insurance claim in Hong Kong.
Thakral Corporation Ltd
Company Registration No. 199306606E
Press Release – Results for Q3FY09
Page 3 of 4
Property Holding
Revenue for the property segment rose by 12.4% from S$0.85 million to S$0.96 million for
the nine months ended September 30, 2009, due to the improvement in rental income of the
Group’s investment properties in Hong Kong during the period under review.
Sales at the Group’s property division in Wujiang remained weak. Turnover was about 24%
lower than in the previous corresponding period.
Going Forward
Executive Chairman, Mr Kartar Singh Thakral said “We are pleased to report another set of
profitable results. This reflects the success of our strategy in steering the Group in the right
direction as we leveraged on the upturn in the prevailing economic conditions which were
enhanced by the various generous government stimulus plans in China. We have reversed
our losses and recorded profit for the past three consecutive quarters and are now poised for
more growth as we continue to take advantage of industry trends and market dynamics to
raise shareholder value.
As we expand our business, we have also strengthened our team. We have beefed up our
IT division and Mobile phone division in Hong Kong to sharpen the Group’s sales
competency in computers and mobile phones. We will also be setting up in Q1FY10 a
corporate sales division by leveraging on our sourcing capabilities to drive sales into the
corporate sector.
The Group is working closely with the regulatory authorities to finalise documents to be
provided to shareholders on the proposal for the diversification of the business to include
real estate and related infrastructure business in the Pan Asian region as a core activity. In
the meantime the Group continues to explore investment opportunities in the real estate
sector.
Barring unforeseen circumstances, the Group remains optimistic of reporting a profitable
FY09.”
About Thakral
Listed on the SGX Mainboard since December 1995 with its Distribution business
Thakral Corporation Ltd
Company Registration No. 199306606E
Press Release – Results for Q3FY09
Page 4 of 4
headquartered in Shanghai, the People's Republic of China ("PRC”), Thakral Corporation
Ltd (“the Group”) is involved in the distribution business in the consumer electronics sector,
as well as strategic property and equity investments.
Presently, the PRC, Hong Kong and India are the Group's key markets for its products. The
Group distributes an extensive consumer brand portfolio including global consumer
electronics brands such as Apple, Asus, Canon, Casio, Fuji, Kodak, Lenovo, Nikon, Nokia,
Olympus, Orion, Panasonic, Pentax, Samsung and Sony. Some of the major products
distributed under these key brands include digital video cameras, digital still cameras,
plasma TVs, desktop and notebook computers, personal digital assistants (PDAs), data
projectors, electronic accessories, mobile phones and audio products including
MP3/MP4/MP5 players.
The Group has also successfully created and marketed trendy consumer products such as
audio players and accessories, LCD TVs, memory cards, portable DVD players and digital
photo frames under its own "YES" brand.
Currently, the Group is exploring potential business growth opportunities in the property
sector as it seeks to diversify its business and expand into real estate in the Pan Asian
region.
Release issued on behalf of Thakral Corporation Ltd by
Stratagem Consultants Pte Ltd
For more information, please contact:
Tham Moon Yee/ Lee Yew Meng/ Tan Shang May
Tel: (65) 6227 0502
Email:
yewmeng@stratagemconsultants.com
shangmay@stratagemconsultants.com
Any good price to start accumulation?
smartrader ( Date: 01-Dec-2009 15:15) Posted:
|
Effectively, take back 5 cents per share and the no. of shares remain the same. Low risk..
ANNOUNCEMENT SGX
PROPOSED CAPITAL REDUCTION AND CASH DISTRIBUTION
1. INTRODUCTION AND RATIONALE
The Board of Directors of Thakral Corporation Ltd (“
that the Company proposes to undertake a capital reduction exercise (“
Reduction
In connection with the proposed Capital Reduction, the Company proposes to
distribute the sum of approximately S$130.6 million (the “
(equal to S$0.05 per share in the capital of the Company (“
shareholders by way of a cash distribution (“
conditions in section 2 below having been satisfied. The level of cash distribution
pursuant to the Capital Reduction has been determined to allow the Company and its
subsidiaries (the “
the Group’s current business and, following the completion of the Capital Reduction
exercise, to take advantage of new business opportunities that may arise from time
to time in the near future. The Capital Reduction will not result in a cancellation of
Shares, or a change in the number of Shares, issued by the Company immediately
after the capital reduction.
Thakral Corporation says it plans to reduce its capital by distributing $130.6 million (or 5 cents per share) to its shareholders in cash as it has not paid them dividends since financial year ended March 31 2005.
The level of cash distribution should still allow the group to maintain sufficient cash reserves and assets to support the group’s current business and take advantage of new business opportunities that may arise in future, the company says.
“The board has previously not reached a consensus on the strategy and business direction for the use or investment of the company’s surplus cash reserves. In the circumstances, the Board has unanimously resolved that the surplus capital in the company be returned to shareholders by way of the capital reduction and cash distribution,” says Thakral in an SGX press release.
This share endlessling diving. Don't know when it will stay still.
I bought it around 8 - 10 cents few mths ago
Worry it might become like centillion that worth around 2 to 2.5 cents.
Anyone know what happen to this company? Care to share.
with his resignation...maybe there will be another better person to take over his place which will boost the company future prospect.
just hang on n wait for the announcement,
COO Sherman Kwek has thrown in the white flag.
http://info.sgx.com/webcorannc.nsf/New+Announcement+Last+3+Months+by+Company+Name?Openview&RestrictToCategory=TTHAKRAL%20CORPORATION%20LTD
accumulation in progress...0.75c seller gonna dry up soon. when the news come up expect it
to hit 10c soon. Hopefully....