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There is a saying:
"Good-looking appearance is common, while interesting soul is rare."
Malaysia's cash-rich company says:
"There are many wealthy companies, but projects that can sustain growth are few and far between."
# PADINI, an old consumer stock with a 53-year history
# How to break through bottlenecks as the times change
PADINI is a well-known company, and most people have owned clothing from its brands. After experiencing the impact of GST in 2015, the company's profits continued to grow for 3 consecutive years, pushing the stock price over the RM6 mark. In the 2019 fiscal year, profits declined, causing the stock price to drop by a third from its peak, falling below RM2 after the pandemic.
Due to retaliatory consumer spending in FY23, both revenue and stock prices hit new highs, but after briefly surpassing RM4, the stock price could not be sustained. This was mainly because in an environment of rising costs in FY24, even with a yearly revenue growth of RM97 million, profits could not prevent a 34% decline.
During the outbreak of the pandemic, there was a rise in online shopping trend. It was thought that with PADINI having billions in cash on hand, expanding online sales should not be difficult. However, reality shows that having money does not mean everything is possible, and entering the new arena also takes time to develop.
PADINI's weekly interest rate is no longer as high as it used to be, now only 3.33%. The company's cash exceeds RM821 million and there is no intention to pay special dividends. Recently, there is a 2% Dividend Tax, will this stimulate PAD...