Eagle Vision Invesment

Dear Friends/Fellow Investors,

I discovered PADINI when I visited JPO years back.

THE INVESTMENT APPROACH OF CALVIN TAN

Author: calvintaneng | Latest post: Tue, 30 Jan 2018, 02:27 PM | >> Go to Blog Dashboard

Hi Guys,

I have An Investment Approach I which I would like to all.

Blog Headlines (by Date) Blog Index
JOHOR PREMIUM OUTLET – Its Modus Operandi (Calvin Tan)
Author: calvintaneng | Publish date:

Sun, 17 Apr 2016, 11:55 AM
JOHOR PREMIUM OUTLET: ITS MODUS OPERANDI
Posted on January 20, 2013 by Calvin Tan
Why Must Premium Outlets Be Located Away From Established Shopping Belt?

There are 7 reasons.

No.1 Since Premium Outlets are selling the same Branded Goods similar to those sold in the city but at deep discount they have to locate a bid further away less they compete directly against the businesses of those selling at Full Price.

No.2 As these Premium Outlets are located in more remote areas they PAY LESS for Land and Wages – thus they are able to PASS ON BETTER SAVINGS to Bargain Hunters. Conversely, how can High End Shopping in Bkt Bintang or Orchard Road give much discount when they pay the highest rental per sg ft?

No.3 For those who travel 30 mins to an hour or more to reach these Discount Designer Outlets they don’t buy just one shirt or dress, as it does not justify the expenses and time incurred. So as to recoup the expenses of petrol (hotel stay) they usually buy 2 or more apparel – thus helping in higher turnover- THE HIGHER THE VOLUME THE DEEPER THE DISCOUNTS!

No.4 Furthermore, travelling long distances to these outlets entail loneliness – so it is normal for 2 or more people to go at one time – the more the merrier! It creates a spirit of togetherness & happiness. When people are happy they tend to spend more.

No.5 That’s why tourists are big spenders. M’sia being the top 9th tourist destination in the world is definitely on the right track. The Bible predicts ,”The time of the end: MANY SHALL TRAVEL TO & FRO, and knowledge shall be increased (Daniel 12:4)

No.6 As expected JPO is launching Phase 2 with 60 over shops & also several hotels and theme park – expecting an ever increasing influx of tourists from all over M’sia, S’pore, Brunei, Indonesia, India, Thailand, Vietnam, Etc & etc. In 2012 there were 1 Billion Tourists! 2013/2014 is VISIT MALAYSIA YEAR! Hear Ye! Hear Ye!

No. 7 RECESSION PROOF!!! In good times Premium Outlets will do well but in bad times Discount Shopping in the Premium outlets WILL DO EVEN BETTER. In bad times we forgo our wants but not OUR NEEDS. Our basic needs are food, shelter and clothing. To survive we still need to eat, sleep somewhere and change our clothes and be properly attired.

Bad Times? Now we have time – NECESSITY COMPELS US TO SAVE MONEY! So in good times JPO is good but in bad times JPO does better! (Same goes for Milo drink, good times we drink Milo in coffee shop bad times we make our Milo at home.) For Nusantara Prima residents JPO is only 15 minutes by North South Highway

As an After thought. In year 2006 on Black Friday, Grove City Premium Outlets in USA – shoppers created a traffic jam 10 miles (16km) long during the middle of the night.

I wonder from whence cometh such God-given wisdom to plan such exciting and recession proof industries in Nusajaya and Iskandar!

See

Posted by calvintaneng > Jan 23, 2014 08:35 PM | Report Abuse X

Kevin5059

Yes Padini will be having a good year in VISIT MALAYSIA YEAR 2014 & YEAR OF FESTIVAL 2015

Recently I paid I visit to JPO for shopping with my son.

These are the positive for PADINI

1) Padini has an edge in fitting for Asian people. Most imported shirts are of larger size made for Americans. Padini Slim Sized Shirts Fit Asian Bodies Perfectly. Others are too big and baggy

2) Padini has Brand Name With Designer Trend

3) Padini Prices Are Very Competitive.

As Such The Crowd Gravitates To Padini like bees to honey.

More so for Extra 28 Million Tourists This Year.

Conclusion: Padini Should Be Doing Very Well.

Both myself and my son bought shirts from Padini. VALUE FOR MONEY!

Posted by calvintaneng > Jan 24, 2014 12:29 AM | Report Abuse X

Dow Jones Fell 180 point? Or Crash 1.000 points?

Ha! Expect More Singaporeans to flock to JPO For Bargains. And PADINI Will Be The No. One Beneficiary For VALUE FOR MONEY!

Posted by calvintaneng > Feb 4, 2014 11:21 AM | Report Abuse X

Padini is doing extremely well at JPO. Many shoppers were carrying shopping bags with PADINI logo when we visited JPO twice last week.

I also can’t resist buying a shirt for RM19.00 (S$7.30) – price of a medium cost meal in Singapore Food Court.

I think PADINI will ride on Premium Outlet Expansion to ALL OF ASIA for 3 BILLION PEOPLE EVENTUALLY.

ITS FUTURE IS VERY BIGHT INDEED!

Calvin comments: (Feb 3rd 2018)

Padini jumped from Rm1.60 to over Rm5.00 today for a nice 200% gain!

And yesterday Dow crashed by more than 600 points. Many are in a panic mode. So PADINI will do better as more people look for bagains in bad times!

But to Calvin Padini at Rm1.60 was really cheap. Padini over Rm5.00?

I rather buy the 2ND PADINI NOW!

BONIA – THE SECOND PADINI!!

These are the Top 10 Reasons to buy BONIA.

1) BONIA at 48 Sen has Fallen to Multiyear lows.

While Padini has gone up to Multi Year High Bonia has fallen to Multi Year low in stead. This is why Calvin Tan is getting very bullish on BONIA. At its peak Bonia Top Boss wanted to take Bonia private over Rm2.00 (but he was unsuccessful). So I am happy to buy Bonia at such depressed prices!

2) BONIA Is An Iconic Malaysian Brand just like Old Town Coffee, PADINI, AirAsia, Jimmy Choo, Shangrila Hotel, Karex and Secret Recipe & others.

A Brand Holder Like Padini is a Value Owner cum Value Creator. A company like Parkson is a Value Seller.

What is the Difference Between a Value Owner/Creator, A Value Manufacturer and a Value Seller or Middle Man? And finally the discerning Value Consumer

So there are 4 Categories of VALUES

1) VALUE CREATOR (Who Is The Sole Owner)

2) VALUE MANUFACTURER (Like Prolexus which manufactures for Nike)

3) VALUE SELLER (Or the Middle Man). Like Parkson & 1,000 others.

4) VALUE CONSUMER (We are all looking to buy value everyday)

Last time NetWork Food Industries (NFI) manufactures for VAN HOUTEN. So NFI is a Value Manufacturer for Van Houten (the Value Owner). Later VAN HOUTEN wanted to squeeze NFI by asking for lower costs. NFI refused so Van Houten shifted to lower production cost manufacturer in China! Then NFI created its own house Brands called Tudor Gold & Tango. NFI turns into VALUE CREATION.

Now A VALUE CREATOR Holds Ultimate Value (Not Value Manufacturers or Value Sellers)

See how Parkson is devastated by E-Commerce. Other “Sellers” are selling 30% to 50% cheaper than Parkson by cutting down on high overheads (death of malls in USA) & manpower (no need to employ sales staff). So E-Commerce will hammer Value Sellers (Value Sellers that Go Online Will Take over from Brick & Butter Store like Parkson). See how Amazon & Alibaba keep breaking records in sales?

NOTE: THERE IS ONLY ONE VALUE CREATOR BUT THERE MAY BE ONE MILLION VALUE SELLERS!!

So both Value Manufacters (Prolexus) & Value Sellers (Parkson) do not have the stability of a Value Creator like PADINI or BONIA.

Like Padini – BONIA also is a Brand Owner. And they both manufactures their Own products. And they Both Sell their Own Products.

In short – THESE GUYS ARE THREE IN ONE

VALUE CREATOR + VALUE MANUFACTURER + VALUE SELLER!!!

THAT”S WHY THEY CAN COMPETE!! AND MIGHT COMPETE WORLDWIDE LIKE IKEA! LIKE COCA COLA! LIKE MACDONALD! LIKE WRIGGLEY CHEWING GUM (ALL WARREN BUFFET’S FAVOURITES!!!)

3) BONIA’S BOSSES INVEST IN DEFENSIVE ASSETS OF GREAT VALUE

Now Calvin dig deeper into BONIA’s High Value Assets

Refer to AR (Annual Report) 2017

No. 29, Jalan Budiman Taman Midah, Cheras 56000 Kuala Lumpur

2-storey. Freehold. 22×70 = 1,540 sq ft land. 35 years old. Book Value Rm88,000

Among the Many High Value Assets of BONIA this house in Taman Midah, Cheras KL

is listed at a Book Value of Rm88,000

RM88,000 For A Freehold 2 Storey House (1,540 sq ft) in Taman Midah, Cheras KL?

Are you sure? Correct figures?

YESS! It’s only Valued at Rm88,000

Now let’s look at current Market Value as advertised

2 sty House, taman midah cheras
22×70 (1,540 Sq Ft) Freehold

RM 900 000

WHOA!! So Old Area? So Expensive? Rm900,000?

Why? Taman Midah (once known as Bolton Garden) is the First Housing Estate In KL

So the VALUE IS IN THE LOCATION!!

Now We Know We are Not Late to Join The KL Property Bull Run As We Can Lock into Valuable Assets at Old Book Value.

Apart from this Undervalue House BONIA also invest in 6 Storey Factory for the Manufacture of Leather Bags & Other Accessories. Plus BONIS invested in Cash Yield Car Park Lots in Cheras! Amazing!

4) STRONG RINGGIT WILL BENEFIT BONIA LIKE NESTLE!

Just like Nestle importing cheaper ingredients like Milk, Sugar & Cocoa for its products… BONIA is now paying for cheaper imported leather due to Stronger Ringgit

5) LESS TAXES, STRONG RINGGIT & HIGH CRUDE OIL HELP CONSUMERS

After few years of GST and high imported costs Malaysians will once again witness enhanced spending power. This is Good For BONIA

6) INFLUX OF CHINA TOURISTS WILL BE GOOD FOR BONIA

See

Airport retail sales surge
MALAYSIA. Malaysia Airports Holdings Berhad has reported a +15.9% leap in retail revenues year-on-year for the first half of 2017, to RM412.9 million (US$98 million). Non-aeronautical revenues at the group, which runs Malaysia’s major airports as well as having a stake in Istanbul Sabiha Gökcen Airport in Turkey, rose by +9.3% to RM981 million (US$233 million).

Malaysia Airports attributed the growth to increased international passenger traffic (+15.1%) as well as higher spending from North Asian and ASEAN region passengers.

 

KLIA retail and F&B sales performed well in the half, aided by passenger traffic growth and strong spending from North Asian travellers

Retail and F&B gross sales at Kuala Lumpur International Airport (KLIA) and low-cost terminal klia2 combined – the key locations for commercial activities at the group – reached RM1,022.5 million (US$242 million). Sales per passenger hit RM35.97 (US$8.53), a healthy +11.1% rise year-on-year.

Malaysia Airports’ retail arm Eraman posted revenue of RM356.2 million (US$84.5 million) across KLIA and klia2 in the half, up by +14%. Sales per passenger dipped by -0.5% however to RM12.53 (US$2.97).

Like JPO – BONIA Also has Shopping Outlets in Malaysian Airports

While PADINI Sales rose due to Lower End Value Conscious Shoppers The Trend is Moving into High Value Bargains like BONIA.

I spoke to the Sales Staff in JPO BONIA recently.

China Tourists will buy Gucci bags. As well as Coach & Burberry bags. But some will buy BONIA Bags.

These are the Highlights of BONIA LUXURY BAGS

a) They are Made From Finest Imported Leather

b) They Are Soft compared to other Western Bags

c) The Price is at least 30% to 40% cheaper than Western rivals

d) They are of good lasting quality.

According to sales staff, these China Tourists after getting to know BONIA & ITS LASTING QUALITY PLUS VALUE FOR MONEY Will Sure To Buy More In Next Trip.

And just like Old Town Coffee powder spread like wild fire among China’s discerning consumers – BONIA has a Very Vast Uptapped Market in China

See how China youth are hungry for Luxury Goods

China’s young shoppers breathe new life into luxury market

An accountant in eastern Suzhou, Guo, 24, likes Coach and Louis Vuitton, and has bought Acne Studios scarves, a Daniel Wellington watch and a Mont Blanc belt as gifts. Of an annual salary of 50,000 yuan ($7,898), she spends one-fifth on luxury items.

“Luxury is not a total necessity for me, I suppose, but whenever I’ve got enough money to spare, then I’ll buy,” she said.

Guo and her peer group are behind a dramatic spike in luxury spending in China last year, according to consultancy Bain & Co. They are the key demographic for luxury brands from LVMH to Gucci owner Kering and France’s Hermes in tapping the world’s top luxury consumers.

Their willingness to spend – often more than they can afford – comes with a note of caution. These consumers are typically less loyal to traditional brands, swayed by shifting trends online and increasingly looking for deals.

7) SEEING VALUE INSIDERS HAVE BEEN BUYING BONIA SHARES LIKE NO TOMORROW

MR CHIANG SANG SEM 14-Aug-2017 Acquired 40,800 0.000 View Detail
MR CHIANG SANG SEM 04-Aug-2017 Acquired 136,700 0.000 View Detail
BONIA HOLDINGS SDN. BHD. 11-Jul-2017 Acquired 1,229,600 0.000 View Detail
MR CHIANG SANG SEM 11-Jul-2017 Acquired 1,229,600 0.000 View Detail
BONIA HOLDINGS SDN. BHD. 10-Jul-2017 Acquired 500,000 0.000 View Detail
MR CHIANG SANG SEM 10-Jul-2017 Acquired 500,000 0.000 View Detail
BONIA HOLDINGS SDN. BHD. 07-Jul-2017 Acquired 475,600 0.000 View Detail
MR CHIANG SANG SEM 07-Jul-2017 Acquired 475,600 0.000 View Detail
BONIA HOLDINGS SDN. BHD. 05-Jul-2017 Acquired 34,700 0.000 View Detail
MR CHIANG SANG SEM 05-Jul-2017 Acquired 34,700 0.000 View Detail
BONIA HOLDINGS SDN. BHD. 04-Jul-2017 Acquired 634,500 0.000 View Detail
MR CHIANG SANG SEM 04-Jul-2017 Acquired 634,500 0.000 View Detail
BONIA HOLDINGS SDN. BHD. 28-Jun-2017 Acquired 13,500 0.000 View Detail
MR CHIANG SANG SEM 28-Jun-2017 Acquired 13,500 0.000 View Detail
ALBIZIA ASEAN OPPORTUNITIES FUND 05-Jun-2017 Acquired 1,000,000 0.000 View Detail
ALBIZIA ASEAN OPPORTUNITIES FUND 30-May-2017 Acquired 1,000,000 0.000 View Detail
ALBIZIA ASEAN OPPORTUNITIES FUND 26-May-2017 Acquired 1,000,000 0.000 View Detail
MR CHIANG SANG SEM 17-Feb-2017 Acquired 500,000 0.600 View Detail
MR CHIANG SANG SEM 13-Feb-2017 Acquired 822,700 0.590 View Detail
MR CHIANG SANG SEM 10-Feb-2017 Acquired 3,455,000 0.585 View Detail
MR CHIANG SANG SEM 08-Feb-2017 Acquired 10,000 0.590 View Detail
MR CHIANG SANG SEM 02-Feb-2017 Acquired 450,000 0.580 View Detail
MR CHIANG SANG SEM 02-Feb-2017 Acquired 250,000 0.580 View Detail
MR CHIANG SANG SEM 02-Feb-2017 Acquired 200,000 0.575 View Detail
MR CHIANG SANG SEM 31-Jan-2017 Acquired 69,200 0.580 View Detail

MR CHIANG SANG SEM 03-Jan-2017 Acquired 53,400 0.580 View Detail
MR CHIANG SANG SEM 30-Dec-2016 Acquired 79,100 0.580 View Detail
MR CHIANG SANG SEM 09-Dec-2016 Acquired 54,500 0.580 View Detail
MR CHIANG SANG SEM 08-Dec-2016 Acquired 309,600 0.578 View Detail
MR CHIANG SANG SEM 29-Nov-2016 Acquired 344,700 0.555 View Detail
MR CHIANG SANG SEM 29-Nov-2016 Acquired 157,900 0.550 View Detail
MR CHIANG SANG SEM 20-Sep-2016 Acquired 192,700 0.560 View Detail
MR CHIANG SANG SEM 19-Sep-2016 Acquired 299,200 0.560 View Detail
MR CHIANG SANG SEM 15-Sep-2016 Acquired 8,100 0.560 View Detail
MR CHIANG SANG SEM 14-Sep-2016 Acquired 500,000 0.560 View Detail
MR CHIANG SANG SEM 07-Sep-2016 Acquired 218,800 0.560 View Detail
MR CHIANG SANG SEM 22-Aug-2016 Acquired 50,000 0.555 View Detail
MR CHIANG SANG SEM 03-Aug-2016 Acquired 100,000 0.580 View Detail
MR CHIANG SANG SEM 02-Aug-2016 Acquired 300,000 0.580 View Detail
MR CHIANG SANG SEM 21-Jul-2016 Acquired 1,657,900 0.600 View Detail
MR CHIANG SANG SEM 20-Jul-2016 Acquired 1,052,800 0.600 View Detail
MR CHIANG SANG SEM 15-Jul-2016 Acquired 2,400 0.585 View Detail
MR CHIANG SANG SEM 11-Jul-2016 Acquired 480,000 0.585 View Detail
MR CHIANG SANG SEM 04-Jul-2016 Acquired 230,000 0.585 View Detail
MR CHIANG SANG SEM 04-Jul-2016 Acquired 200,000 0.580 View Detail
MR CHIANG SANG SEM 28-Jun-2016 Acquired 14,400 0.560 View Detail
MR CHIANG SANG SEM 27-Jun-2016 Acquired 545,000 0.560 View Detail
MR CHIANG SANG SEM 24-Jun-2016 Acquired 617,600 0.560 View Detail
MR CHIANG SANG SEM 24-Jun-2016 Acquired 340,000 0.560 View Detail
MR CHIANG SANG SEM 23-Jun-2016 Acquired 94,000 0.560 View Detail
MR CHIANG SANG SEM 12-Aug-2015 Acquired 144,800 0.864 View Detail
MR CHIANG SANG SEM 11-Aug-2015 Acquired 150,000 0.900 View Detail
MR CHIANG SANG SEM 10-Aug-2015 Acquired 55,000 0.909 View Detail
MR CHIANG SANG SEM 05-Aug-2015 Acquired 425,000 0.925 View Detail
MR CHIANG SANG SEM 04-Aug-2015 Acquired 448,000 0.929 View Detail
MR CHIANG SANG SEM 03-Aug-2015 Acquired 2,000 0.930 View Detail
MR CHIANG SANG SEM 30-Jul-2015 Acquired 23,000 0.925 View Detail
MR CHIANG SANG SEM 29-Jul-2015 Acquired 41,000 0.929 View Detail
MR CHIANG SANG SEM 28-Jul-2015 Acquired 50,000 0.920 View Detail
MR CHIANG SANG SEM 23-Jul-2015 Acquired 7,000 0.930 View Detail
MR CHIANG SANG SEM 15-Jul-2015 Acquired 100,000 0.930 View Detail
MR CHIANG SANG SEM 07-Jul-2015 Acquired 50,000 0.950 View Detail
MR CHIANG SANG SEM 01-Jul-2015 Acquired 800 0.950 View Detail
MR CHIANG SANG SEM 30-Jun-2015 Acquired 127,300 0.950 View Detail
MR CHIANG SANG SEM 29-Jun-2015 Acquired 100,000 0.950 View Detail
MR CHIANG SANG SEM 26-Jun-2015 Acquired 100,000 0.950 View Detail
MR CHIANG SANG SEM 24-Jun-2015 Acquired 100,000 0.950 View Detail
MR CHIANG SANG SEM 17-Jun-2015 Acquired 119,800 0.953 View Detail
CHIANG SANG SEM 12-Jun-2015 Acquired 25,600 0.960 View Detail
MR CHIANG SANG SEM 10-Jun-2015 Acquired 190,000 0.971 View Detail
MR CHIANG SANG SEM 09-Jun-2015 Acquired 154,800 0.980 View Detail
CHIANG SANG SEM 08-Jun-2015 Acquired 2,656,000 0.900 View Detail
CHIANG SANG SEM 08-Jun-2015 Acquired 31,300 0.995 View Detail
As you can SEE the BOSS Bought from a high of 99 sen to a low of 55 sen …. at 48 Sen BONIA is now a screaming buy!!

9) BUY ONE QUESTION: IF BONIA IS SO GOOD WHY THE SELL DOWN?

ANSWER:

BONIA WAS SOLD DOWN BY IGNORANT HOLDERS. IN A TIME OF WEAKNESS PROLEXUS, JERASIA & BONIA WERE ALL SOLD DOWN.

While there is a reason why Prolexus & Jerasia were Sold Down the only reason for selling down Bonia is lack of clarity & undue fear. If we KNOW there is absolutely nothing to fear

You must fear Prolexus sell down because EPF is dumping

[PRLEXUS] Notice of Person Ceasing Substantial Shareholders – EMPLOYEES PROVIDENT FUND BOARD (“EPF BOARD”) on 15-Jan-2018
Stock [PRLEXUS]: PROLEXUS BHD
Announcement Date 15-Jan-2018
Substantial Shareholder’s Particular:
Name EMPLOYEES PROVIDENT FUND BOARD (“EPF BOARD”)
Details of Changes:
Currency –

Date of Change Type Number of Shares
10-Jan-2018 Disposed 94,500

Nature of Interest Direct Interest
Shares Ordinary shares
Reason Disposal of shares in open market by Citigroup – EPF Board

You must fear sell down in Jerasia because Insider Kena Margin Call

DATO SRI MOHD HANIFF BIN ABD AZIZ 24-Jan-2018 Disposed 20,000 0.492 View Detail
DATO SRI MOHD HANIFF BIN ABD AZIZ 19-Jan-2018 Disposed 25,000 0.495 View Detail
DATO SRI MOHD HANIFF BIN ABD AZIZ 15-Jan-2018 Disposed 50,000 0.500 View Detail
DATO SRI MOHD HANIFF BIN ABD AZIZ 11-Jan-2018 Disposed 30,000 0.500 View Detail
DATO SRI MOHD HANIFF BIN ABD AZIZ 10-Jan-2018 Disposed 60,000 0.505 View Detail
DATO SRI MOHD HANIFF BIN ABD AZIZ 09-Jan-2018 Disposed 50,000 0.505 View Detail
DATO SRI MOHD HANIFF BIN ABD AZIZ 08-Jan-2018 Disposed 90,000 0.519 View Detail
DATO SRI MOHD HANIFF BIN ABD AZIZ 05-Jan-2018 Disposed 100,000 0.512 View Detail
DATO SRI MOHD HANIFF BIN ABD AZIZ 04-Jan-2018 Disposed 50,000 0.500 View Detail
DATO SRI MOHD HANIFF BIN ABD AZIZ 03-Jan-2018 Disposed 50,000 0.495 View Detail

Dato Sri Mohd is holding Jerasia shares on Margins

See

2. Maybank Securities Nominees (Tempatan) Sdn. Bhd. Pledged securities account for Mohd Haniff bin Abd Aziz (REM 851-Margin)… 9,657,002……… 11.77%

At Top No. 2 shareholder of Jerasia is Mohd Haniff with 9.6 Million Jerasia shares… about 11.7%

See carefully again AS I HIGHLIGHT IT

2. Maybank Securities Nominees (Tempatan) Sdn. Bhd. Pledged securities account for Mohd Haniff bin Abd Aziz (REM 851-Margin)… 9,657,002……… 11.77%

He is suffering the relentless attack of margin call after margin call. He is also suffering margin call in EURO stock. So be forewarned. Both Jerasia & Euro might go lower — drag down by margin call of substantial holder!!

So much for playing with margin? Get migrane later with sleepless nights?

10. TOP HODERS OF BONIA ARE ROCK SOLID BANKS LIKE DBS & PUBLIC BANK

Coming in at No. 4 is

4. CIMB Group Nominees (Asing) Sdn. Bhd. Beneficiary: Exempt An for DBS Bank Ltd

67,180,000……. 8.34%

DBS is Singapore Govt Bank

About DBS Bank – Asia’s Safest Bank – Singapore’s Bank of Choice …
https://www.dbs.com/about-us/default.page
Headquartered and listed in Singapore, DBS is a market leader inSingapore with over four million customers and also has a growing presence in the three key Asian axes of growth, namely, Greater China, Southeast Asia and South Asia. With over 280 branches across 18 markets in Asia, we are the largest bank in …

So don’t worry. DBS BANK (SPORE) won’t suffer margin call.

Coming in at no. 6

HSBC Nominees (Asing) Sdn. Bhd. Beneficiary: Exempt An for The HongKong And Shanghai Banking Corporation Limited with 22 million shares at 2.74

Comin in at no 10

Amanahraya Trustees Berhad Beneficiary: Public Islamic Opportunities Fund

7.5 million shares at 0.93%. Backed by Public Bank of Malaysia

Other holders are local funds & foreign funds. Almost 80% of BONIA shares are held by TOP BANKS OF SINGAPORE, MALAYSIA & HONG KONG

Why? What Do They SEE In BONIA?

Another PADINI?

Or Another McDonald, IKEA, Coca Cola Or Old Town Coffee

No matter what NOW IS OUR BEST OF TIME TO GET SOME BONIA AT THE ROCK BOTTOM BARGAINS BELOW 50 SEN

BEST OF WARM WISHES

From

Calvin Tan Research, Singapore