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PUBLIC FIN HOLD (00626.HK) profit warning: an estimated annual loss of approximately 0.19 billion Hong Kong dollars (excluding goodwill impairment).
On December 23, Gelonghui reported that PUBLIC FIN HOLD (00626.HK) announced that the group predicts a loss of approximately HKD 0.19 billion for the fiscal year ending December 31, 2024 (before accounting for goodwill impairment), while the profit for the fiscal year ending December 31, 2023, was HKD 14 million, mainly due to: (i) an expected increase in credit loss provisions of approximately HKD 0.17 billion, primarily resulting from an increase in lease-to-own loans, personal loan borrower defaults, and bankruptcy cases amid a significant drop in the value of public vehicle licenses, as well as additional impairment provisions allocated for certain corporate borrowers.
Express News | Public Financial - Expected Resultd Due to Increase in Expected Credit Loss Provision by HK$170 Mln, Among Others
Express News | Public Financial Sees Impairment of Goodwill Between HK$600 Mln to HK$900 Mln for FY
Express News | Public Financial Sees Loss for Year HK$190 Mln
Investors in Public Financial Holdings (HKG:626) From Five Years Ago Are Still Down 23%, Even After 32% Gain This Past Week
PUBLIC FIN HOLD: Interim Report 2024
chanpak ks : the aging management with no eager to bring 0626.hk into next glorious is the main problem of 0626.hk. mother company of public bank group in Malaysia not even bother the performance of this 73% subsidiary as profit contribution only a tiny peanut compare to overall group revenue. IF the management & board of director wish to improve the share performance., they are always have multiple good solution to preserve minor share holder value
this includes 1)new merge & acquisition in between bank local or international
2) divert the business from Vietnam , Cambodia into 0626.hk by issue new share with p/b 1
3)share consolidate by convert all 0626.hk share to mother share 1295.my with p/b 1
4)capital reduction by release the retain earnings of 800mil to all share holder n etc
5) consistently share buy back by privatisation the 0626.hk with fair value
this mentioned above all will bring good return to share holder & the board of director just don't bother to do this.
in short, they are just no empathy to minor share holder by just sit on the rock without doing any effort to improve the current environment.