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enjoylife77 Veteran	21-Nov-2015 16:55        enjoylife77 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I only use Courts Tampines as a showroom to source for the most suitable item and buy it from SingaporeExpo show.
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ecekca Elite	21-Nov-2015 16:31        ecekca About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	yeah, nearly 2 times the actual price as compare to non-installment did consider buying something for house but after calculating it, it nearly 200% of the actual price. rather suffer first then suffer later Qanghoo      ( Date: 21-Nov-2015 16:00) Posted: Yep, but CA still makes quite a  bi via interests on hp.  I remember my first oven, > 40 yrs ago was via CA hp.  I used to go to the courts outlet in old orchard rd to pay the monthly instmt for my father.  He bought the oven to make bak kwa to sell in the mkt.  Those days, no need licence one - not illegal hawker, but kinda illegal bak kwa maker.  So, since my teenage days, I know that gross margins for bk is very very high.  ecekca      ( Date: 21-Nov-2015 15:47) Posted: in Sing and Indon market, people prefer to use cash instead of credit Only msia market, they prefer to use credit . but that has reduced alot.
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Qanghoo Supreme	21-Nov-2015 16:00        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yep, but CA still makes quite a  bi via interests on hp.  I remember my first oven, > 40 yrs ago was via CA hp.  I used to go to the courts outlet in old orchard rd to pay the monthly instmt for my father.  He bought the oven to make bak kwa to sell in the mkt.  Those days, no need licence one - not illegal hawker, but kinda illegal bak kwa maker.  So, since my teenage days, I know that gross margins for bk is very very high.  ecekca      ( Date: 21-Nov-2015 15:47) Posted: in Sing and Indon market, people prefer to use cash instead of credit Only msia market, they prefer to use credit . but that has reduced alot. Qanghoo      ( Date: 21-Nov-2015 15:42) Posted: I think CA is inhouse HP whereas the others are via bank credit-card so-called interest-free installment plans.  Difference is  low income ppl without cards can tap on CA s hp.
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ecekca Elite	21-Nov-2015 15:47        ecekca About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	in Sing and Indon market, people prefer to use cash instead of credit Only msia market, they prefer to use credit . but that has reduced alot. Qanghoo      ( Date: 21-Nov-2015 15:42) Posted: I think CA is inhouse HP whereas the others are via bank credit-card so-called interest-free installment plans.  Difference is  low income ppl without cards can tap on CA s hp.  ecekca      ( Date: 21-Nov-2015 14:10) Posted: i sure all the rest provide financing too
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Qanghoo Supreme	21-Nov-2015 15:42        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	I think CA is inhouse HP whereas the others are via bank credit-card so-called interest-free installment plans.  Difference is  low income ppl without cards can tap on CA s hp.  ecekca      ( Date: 21-Nov-2015 14:10) Posted: i sure all the rest provide financing too enjoylife77      ( Date: 21-Nov-2015 13:41) Posted: Besides providing financing, what other competitive edge Courts  have over Harvey Norman, Best Denki, Mustafa, Mega Discount, Audio House, Gain City?
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ecekca Elite	21-Nov-2015 14:10        ecekca About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	i sure all the rest provide financing too enjoylife77      ( Date: 21-Nov-2015 13:41) Posted: Besides providing financing, what other competitive edge Courts  have over Harvey Norman, Best Denki, Mustafa, Mega Discount, Audio House, Gain City?
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enjoylife77 Veteran	21-Nov-2015 13:41        enjoylife77 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Besides providing financing, what other competitive edge Courts  have over Harvey Norman, Best Denki, Mustafa, Mega Discount, Audio House, Gain City?
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ecekca Elite	20-Nov-2015 19:16        ecekca About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Hitting 70% oversold level Waiting for 0.4 to sell (Strong resistance at this level)
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ecekca Elite	18-Nov-2015 19:24        ecekca About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Lack of strength even after good result. Short/Sell at 0.4
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ecekca Elite	11-Nov-2015 11:29        ecekca About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Cost of living in singapore higher. That why Spore rev/profit will be higher psf. Msia/Indon will be lower   Qanghoo      ( Date: 11-Nov-2015 07:36) Posted: Results seems to be showing substantial improvements after the struggles of the last few qtrs.  I have a different angle on a couple of pts.  Spore revenue/profit are higher psf.  That may be becose of better utilisation of precious floor space n manpower  here.    Maybe (n this is a guess) especially in Indonesia, they might have a social responsibility to offer employment to a large population n that incurs extra costs.  But while it might be difficult to further tighten costs in spore, increasing revenue/profitability psf in the neighbouring countries cld be a lot easier n cld be a strategy for the future (meaning investing in CA for the future cld prrove more rewarding than it might a ppear at first glance).  Also, throwing in this KPI  might have  been  strategically thought out to  make the spore mkt look more upbeat.  As for the high level of trade receiveables, presumably it' s substantially due to credit sales?  If so, it' d have a higher level of security than other coys (Swiber, for example) with high receiveables n is interest-bearing too.  So, it might  actually pay to ramp up receiveables.  But in general,   HP practices sometimes generate negative sentiments among consumers.
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Qanghoo Supreme	11-Nov-2015 07:36        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Results seems to be showing substantial improvements after the struggles of the last few qtrs.  I have a different angle on a couple of pts.  Spore revenue/profit are higher psf.  That may be becose of better utilisation of precious floor space n manpower  here.    Maybe (n this is a guess) especially in Indonesia, they might have a social responsibility to offer employment to a large population n that incurs extra costs.  But while it might be difficult to further tighten costs in spore, increasing revenue/profitability psf in the neighbouring countries cld be a lot easier n cld be a strategy for the future (meaning investing in CA for the future cld prrove more rewarding than it might a ppear at first glance).  Also, throwing in this KPI  might have  been  strategically thought out to  make the spore mkt look more upbeat.  As for the high level of trade receiveables, presumably it' s substantially due to credit sales?  If so, it' d have a higher level of security than other coys (Swiber, for example) with high receiveables n is interest-bearing too.  So, it might  actually pay to ramp up receiveables.  But in general,   HP practices sometimes generate negative sentiments among consumers.
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ecekca Elite	10-Nov-2015 14:38        ecekca About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Excellent results by Courts Sales went up by 4.2% with nearly no change in COGs resulting in a net profit to jump by 253% Improvement in Operating Metrics (Gross Profit/Net Margin/EBITDA/Trade Payable days/Inventory days) Improvement in Msia credit/cash mix: went up rom 28.1% to 40.6% for cash. Msia 180+ days delinquency rates has been improving   Expansion Plan : to open a total of 6 new stores in Indonesia over next 12 months (Contribution from Indonesia mkt still very insignficant
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ecekca Elite	07-Nov-2015 17:00        ecekca About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	yes. AR majority due to malaysian market if i recall Yes, it quite hyped up previously due to the fact that Courts is like a bank. cos they let people to buy products on credit and allow to pay installment which could amount to you paying double for the products Analysts love that it like a bank If target asset management is liking it, it means it deep value as they are reowned for value investing.   n3wbie      ( Date: 07-Nov-2015 15:31) Posted: with a large part of their assets being held as AR - the quality of the book does not look too comforting though. impairments due to default rate and inventory write-offs are also possible incidents.  I recall the market being quite hyped up over the counter about two years ago where it even broke $1 in share price but subsequent quarters failed to show delivery of results as promised by management.  ecekca      ( Date: 07-Nov-2015 14:54) Posted: Singapore is saturated market already but sales/profit per square feet, they are much profitable compare to Indon & Msia The growth more from Indonesia i think, and there potential if they can execute well. Indonesian market won' t have higher credit as compare to Malaysian market as they prefer to purchase it with cash instead of credit. That is why Msia market has a high credit loan book Courts is still doing okay, since they can still generate a net profit Their trade receivables for current+non-current is quite huge at 510mio. so concern over their default rate with regards to their credit loan NAV = 55 cents . P/B=0.67 , P/E at 10.98 (looks acceptable at the moment ). Therefore stock not really expensive Potential is that nearly 80% of courts asia hold by SRE (approx 70+%) and Target (approx 5+%), if any fund starts to fund them, courts will easily shoot up
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n3wbie Elite	07-Nov-2015 15:31        n3wbie About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	with a large part of their assets being held as AR - the quality of the book does not look too comforting though. impairments due to default rate and inventory write-offs are also possible incidents.  I recall the market being quite hyped up over the counter about two years ago where it even broke $1 in share price but subsequent quarters failed to show delivery of results as promised by management.  ecekca      ( Date: 07-Nov-2015 14:54) Posted: Singapore is saturated market already but sales/profit per square feet, they are much profitable compare to Indon & Msia The growth more from Indonesia i think, and there potential if they can execute well. Indonesian market won' t have higher credit as compare to Malaysian market as they prefer to purchase it with cash instead of credit. That is why Msia market has a high credit loan book Courts is still doing okay, since they can still generate a net profit Their trade receivables for current+non-current is quite huge at 510mio. so concern over their default rate with regards to their credit loan NAV = 55 cents . P/B=0.67 , P/E at 10.98 (looks acceptable at the moment ). Therefore stock not really expensive Potential is that nearly 80% of courts asia hold by SRE (approx 70+%) and Target (approx 5+%), if any fund starts to fund them, courts will easily shoot up   Qanghoo      ( Date: 06-Nov-2015 22:54) Posted: I think Indonesia n Malaysia are wild cards.  Spore maybe can write off already cos of the very high cost of business here n the many consumer players around that have saturated the mkt.  If they execute their strategies well in these two meighbouring countries, then I think they may be able to turn around more convincingly.  Otherwise, we can kiss this Courts goodbye.
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ecekca Elite	07-Nov-2015 14:54        ecekca About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Singapore is saturated market already but sales/profit per square feet, they are much profitable compare to Indon & Msia The growth more from Indonesia i think, and there potential if they can execute well. Indonesian market won' t have higher credit as compare to Malaysian market as they prefer to purchase it with cash instead of credit. That is why Msia market has a high credit loan book Courts is still doing okay, since they can still generate a net profit Their trade receivables for current+non-current is quite huge at 510mio. so concern over their default rate with regards to their credit loan NAV = 55 cents . P/B=0.67 , P/E at 10.98 (looks acceptable at the moment ). Therefore stock not really expensive Potential is that nearly 80% of courts asia hold by SRE (approx 70+%) and Target (approx 5+%), if any fund starts to fund them, courts will easily shoot up   Qanghoo      ( Date: 06-Nov-2015 22:54) Posted: I think Indonesia n Malaysia are wild cards.  Spore maybe can write off already cos of the very high cost of business here n the many consumer players around that have saturated the mkt.  If they execute their strategies well in these two meighbouring countries, then I think they may be able to turn around more convincingly.  Otherwise, we can kiss this Courts goodbye.  ecekca      ( Date: 06-Nov-2015 21:59) Posted: how about their indonesia growth?
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Qanghoo Supreme	06-Nov-2015 22:54        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	I think Indonesia n Malaysia are wild cards.  Spore maybe can write off already cos of the very high cost of business here n the many consumer players around that have saturated the mkt.  If they execute their strategies well in these two meighbouring countries, then I think they may be able to turn around more convincingly.  Otherwise, we can kiss this Courts goodbye.  ecekca      ( Date: 06-Nov-2015 21:59) Posted: how about their indonesia growth?
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ecekca Elite	06-Nov-2015 21:59        ecekca About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	how about their indonesia growth?
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n3wbie Elite	04-Nov-2015 22:00        n3wbie About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	apart from the share buy-back to support the share price - which they can' t at present given that they are in blackout period before their 2Q2015' s results announcement there does not seem to have any near-mid term catalysts for the company. valuation wise - not many consumer goods companies are trading below book value but the balance sheet of Courts Asia is also quite weak ($267m worth of AR and $86m of inventories - we have no idea the breakdown and these may potentially be set aside for provision or impairment). they are also way leveraged in a net debt position. P/E wise of around 10.8x presently is not exactly cheap either. cash flow also seems relatively tight as operationally, they remain negative operating cash flow... unless there is a silver lining behind all these, I think there are many counters out there imho.
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ecekca Elite	04-Nov-2015 21:41        ecekca About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	They still havee authorisation to buy back 44mio shares. Target Asset Management is holding Courts Asia too
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ecekca Elite	29-Oct-2015 13:51        ecekca About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	it getting cheaper too major shareholder owns nearly 70% plus. There is no major players investing in Courts.
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