...PP16832/01/2013 (031128) Malaysia Company Update 17 January 2013 Buy (unchanged) Share price: Target price: MYR1.83 MYR2.40 (unchanged) Padini Holdings No Stranger To Competition Recent concerns addressed; Maintain BUY. We conducted channel checks to determine whether Padini has been affected by increasing competition. Our on-the-ground findings are that Padini’s brands remain popular among shoppers, and Brands Outlet in particular has been well received. Maintain BUY with an unchanged TP of MYR2.40 (14x 2013 PER). A net dividend yield of 4.4-4.9% and quarterly dividend payments further enhances the stock’s appeal. Paradigm Mall observation. We observed shoppers’ buying pattern at the newly opened mall in Petaling Jaya last weekend (Chinese New Year shopping has started), which houses major local and international apparel brands such as H&M, Uniqlo, Zara, Padini Concept Store (PCS) and Brands Outlet (BO) under one roof. Our findings are that Padini remains the “market leader” in this mall; its PCS and BO brands have a combined 45% “market share”. H&M stood out as the main competitive threat, accounting for a 38% “share of the market”. Extending its market presence. Elsewhere, store expansions will resume in FY6/14 after the slowdown in FY6/13 with only one new Brands Outlet. The five new stores (3 Brands Outlets, 2 Padini Concept Stores) for FY6/14 will all be located outside the Klang Valley, as the group extends its presence in the suburban areas. Besides facing...
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...global trends in sUstainable energy investment 2010 Analysis of Trends and Issues in the Financing of Renewable Energy and Energy Efficiency United nations environment Programme Endorsed by Copyright © United Nations Environment Programme and New Energy Finance, 2010 This publication may be reproduced in whole or in part and in any form for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgement of the source is made. UNEP would appreciate receiving a copy of any publication that uses this publication as a source. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the United Nations Environment Programme. Disclaimer United Nations Environment Programme: The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the United Nations Environment Programme concerning the legal status of any country, territory, city or area or of its authorities, or concerning delimitation of its frontiers or boundaries. Moreover, the views expressed do not necessarily represent the decision or the stated policy of the United Nations Environment Programme, nor does citing of trade names or commercial processes constitute endorsement. Bloomberg New Energy Finance: The information contained in this publication is derived from carefully selected public...
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...Higher Engineering Mathematics In memory of Elizabeth Higher Engineering Mathematics Sixth Edition John Bird, BSc (Hons), CMath, CEng, CSci, FIMA, FIET, MIEE, FIIE, FCollT AMSTERDAM • BOSTON • HEIDELBERG • LONDON • NEW YORK • OXFORD PARIS • SAN DIEGO • SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO Newnes is an imprint of Elsevier Newnes is an imprint of Elsevier The Boulevard, Langford Lane, Kidlington, Oxford OX5 1GB, UK 30 Corporate Drive, Suite 400, Burlington, MA 01803, USA First edition 2010 Copyright © 2010, John Bird, Published by Elsevier Ltd. All rights reserved. The right of John Bird to be identified as the author of this work has been asserted in accordance with the Copyright, Designs and Patents Act 1988. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher. Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone (+44) (0) 1865 843830; fax (+44) (0) 1865 853333; email: permissions@elsevier.com. Alternatively you can submit your request online by visiting the Elsevier web site at http://elsevier.com/locate/permissions, and selecting Obtaining permission to use Elsevier material. Notice No responsibility is assumed by the publisher for any injury and/or damage to persons or property as a matter of products...
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