Third Pawnshop to go for IPO...ValueMax

[TopSage]

http://business.asiaone.com/news/valuemax-latest-pawnbroker-eye-sgx-listing

In the whole of the USA, the one place with the highest concentration of pawn shop is Las Vegas.....don't need to tell you what else is found in Las Vegas.

The existence of pawnshop is proportional to the level of economic desperation.

When I write this type of thing some unthinking pple will reply by saying " what is wrong within pawnshops, they are after all doing an honest business based on demand and supply'' . such responses misses the whole point ...of course, pawn is a perfectly legal business that provides a service to the people...it is better than loansharking. However, the growth of such businesses is correlated to economic desperation and tells us something unhealthy is going on in our society

 

[po2wq]

sinkielan indeed has n humongous pie 4 pawnshops ... n iz size is rapidly xpanding ...

 

[Scrooball (clone)]

The market is too saturated with these type of pawnshops. Low growth potential. Margin is high. But think about it....people these days don't even buy much gold. They buy watches like Patek Phillipe which are very different from Rolex.

 

[Narong Wongwan]

Last time pawnshops can pawn many things like blankets and cheongsams and whatnot.
Now they are going down that route accepting branded bags etc alongside with the traditional gold.
Pawnshops got on marketing blitz to remove social stigma...next time going to pawnshops and leegal loansharks also machiam going to do normal banking.
Pap help pawnshop owners and ah longs to huat!

 

[laksaboy]

Pap help pawnshop owners and ah longs to huat!

That's the whole point of opening two casinos ('integrated resorts'), wasn't it? To create jobs.

I feel for those independent traditional small pawnshops... sooner or later they will be squeezed out of business, just like NTUC Fairprice had destroyed provision shops and Breadtalk is currently destroying neighbourhood bakeries.

There goes the talk of 'encouraging entrepreneurship'... it is just a bunch of bollocks, like Goal 2010.

 

[Annunaki]

Thanks to pawnshop endorsement I also huat!

 

[laksaboy]

All good things come in threes:

Maxi Cash, Value Max and Money Max.

Kong Hee, Lawrence Khong and Joseph Prince.

Father, Son, Holy Goh

 

[GoldenDragon]

All good things come in threes:

Maxi Cash, Value Max and Money Max.

Kong Hee, Lawrence Khong and Joseph Prince.

Father, Son, Holy Goh

PAP, PA and NTUC?

 

[ray_of_hope]

All good things come in threes:

Yes, as Americans would put it, "Three's a charm."


" It refers to the belief that the number three is a magical number; therefore, doing anything three times would make it magically succeed."
http://wiki.answers.com/Q/What_does_'Three_is_a_Charm'_mean

 

[GOD IS MY DOG]

no point buying their shares lah..................

price not likely to go up much.................dividends also not that great lah..............

only the owners good only in IPO............

 

[Narong Wongwan]

Next change - leegalised loansharks go for listing.

 

[hokkien]

So their share price go up when times are bad?

 

[TopSage]

TE=Scrooball (clone);1672538]The market is too saturated with these type of pawnshops. Low growth potential. Margin is high. But think about it....people these days don't even buy much gold. They buy watches like Patek Phillipe which are very different from Rolex.[/QUOTE]



ValueMax's net profit grew 11.2 per cent to $14.3 million from 2010 till last year, on the back of a 27.8 per cent rise in revenue to $509 million.

Pawnbroking constituted about 72.6 per cent of its gross profit between 2010 and March 31 this year, according to its prospectus.

For them to chalk up this type of growth for an economy that is doing 1 to3% growth is nothing short of spectacular. It is going to get better as more singaporeans are pushed into financial strain resulting for pap population policy which causes everything to shoot up in price

 

[Reddog]

Going for IPO is the best for marginal business. You retain control of the company and award yourself and your kins fantastic salaries for life. Minority shareholders just watch. Plenty of examples.

 

[Narong Wongwan]

Many pawnshops also in related businesses like goldsmith and watch dealers....huat until siao thanks to pap.

 

[borom]

Next change - leegalised loansharks go for listing.

Already- in the form of banks esp the Credit Card Departments.
If you rollover your outstanding and do not pay on time -the admin fees, late fees and late interest charges are very very high.
Coincidence that Tummysick and GIC like to invest in banks?

 

[eErotica69]

Topsai, I am thinking of bidding for the IPO. Is it a buy call?

How are the other 2 performing?

 

[rushifa666]

the casinos are creating more jobs. for hospitals, police, singapore casket, psychiatrists, flower shops, funeral homes. did i miss out anyone?

 

[ahmad]

Pawnshop these days making money

 

[sense]

IPO Prospectus: bit.Iy/1icAAp9