MoneyMax Fin    Last:0.82    -0.005

Moneymax Financial Services

Financial results. see company earning.

 

What is going on on the 15th?? What results out??

 

Phillip Securities Research Pte Ltd 28 October 2013 MoneyMax Financial Service Limited Rating 1 Buy - Previous Rating 0 Not Rated Target Price (SGD) 0.480 - Previous Target Price (SGD) NA Closing Price (SGD) 0.400 Expected Capital Gains (%) 20.0% Expected Dividend Yield (%) 0.0% Expected Total Return (%) 20.0% Raw Beta (Past 2yrs w eekly data) NA Market Cap. (USD mn / SGD mn) 114 / 142 Enterprise Value (USD mn / SGD mn) 180 / 222 3M Average Daily T/O (mn) NA 52 w eek range (SGD) 0.35 - 0.5 Closing Price in 52 w eek range Company Overview MoneyMax is one of Singapore?s largest pawnbroking chains with 29 outlets located island-wide, operating under the brands of ?MoneyMax? and ?Cash Online?. MoneyMax also provides retail and trading business of pre-owned gold, jewellery and watches. Two sources of revenue  Earns from interest income from providing short-term collateralized loans to customers.  Profit from sales of pre-owned gold, jewellery and/or watches. Investment Merits  Expect increasing demand for pawnshops: - Higher cash needs from tighter loan regulations - Reducing social stigma on stronger branding and better quality of service - Cheaper and quicker source of borrowing - Wide reach with convenient stops in the heartlands - Rising costs likely to boost business  Low-risk business model  Stronger holding, of interest in jewellery & watches  Experienced management team Peer Comparison ? Maxi-Cash and ValueMax  All three pawnshop chains are expected to experience increase in their pawnbroking profits  MoneyMax may have a higher growth potential from existing outlets as compared to ValueMax.  MoneyMax?s current P/E valuations lower, more attractive than Maxi-cash  MoneyMax does not currently give dividends  All three pawnshop chains may continue to grow partly through the acquisition of older pawnshops Key Risks  Current gold price volatility increases the risk and impacts profit margin  Increase in interest rates lowers profitability of pawnbroking business  Licences may fail to be renewed or obtained  Regulatory risks Investment Actions Based on our DCF valuations, assuming WACC of 8.0%, and terminal growth of 1.0%, we derive a target price of S$0.48. This gives an implied FY13E P/E multiple of 21.8X, and P/B multiple of 2.7X. While both multiples are high, we note the growth potential for MoneyMax and the pawnbroking industry. Based on the investment merits highlighted above, and current share price, we initiate coverage of MoneyMax with a BUY recommendation

 

Past few day transacted at 0.36/0.365 cents,I think some investor collecting this stock for the result.

hope this counter is has strong sentiment itself as price was not boosted by valuemax ipo.

Current market sentiment is not clear too,look like wait an see attitude for investors. 

 

 

ok we are D-7 days to result release.



 

HOld on to your seat, it will be choppy



 

I  mean upwards!!!! 

 

Please don`t let me down moneymax!!!

 

 

Really testing my patience.
Need to check their FA again to see worth my patience

 

Ok. Since philliph capital has a target price of 48cents.

Will wait a bit longer till 15 Nov (results).

Meanwhile wait for penny saga to settle down before sniffing the gold within the dust.

 

Finally force selling over.



 

Next week will see turtle crawl towards 40cents.



 

Edge mag writing a lot on pawn business.  Dun know why  . suspect they accept kopi money to publish.



 

Seems the  pawn towkay  marketing strategy very good 

 

Dividend about 2.8%. Bo bian. Now market bad. Just hv to wait. At least it os a Singapore coy. So dun hv to worry.

Today one platoon plus plus penetrate again into porous defence . Look like going to crack.

Tmr shd be better all contra players flush out

 

got to keep and collect dividend. don't know when can move up 40 cents and above?

FearValueGreed      ( Date: 30-Oct-2013 23:42) Posted: Actually pawnshop is a credit business.   Ah long in disguise. U see , pple no money but got credit card.   desperate borrowers will buy asset using credit card  payment in instalment and then take the asset to pawn, then get back cash. After that cut the credit card and run away. cool right, except this guy will be caught by banks eventually.   Suspect our 3  musketeers ie Valuemax, moneymax, and one more cant rem the name , too many these days will start to open credit loan  business and maybe a consolidation is coming.

 

Actually pawnshop is a credit business.



 

Ah long in disguise.

U see , pple no money but got credit card.



  desperate borrowers will buy asset using credit card  payment in instalment and then take the asset to pawn, then get back cash.

After that cut the credit card and run away. cool right, except this guy will be caught by banks eventually.

 



Suspect our 3  musketeers ie Valuemax, moneymax, and one more cant rem the name , too many these days will start to open credit loan  business and maybe a consolidation is coming.

 

 

 

What goes idown must come up. Target : 44-45 cents based on average method.

Will wait for mid nov result release.

 

Low vol. Cool . No worry

 

Ok good closing despite carnage at small cap.

Think ipo close results Will further boost all pawn owners meantme.

42 cents coming first.

 

One battlaion of troops mounted at 40 cents. Under heavy mortar.

But holding well . Looking at vol. Troops will advance tmr dawn for a surprise ambush.

 

Phillip Securities initiates at Buy with TP $0.48, implying 21.8x FY13e P/E, 2.7x P/B. MoneyMax is one of Singapore?s largest pawnbroking chains with 29 outlets located island-wide, operating under the brands of ?MoneyMax? and ?Cash Online?. MoneyMax also provides retail and trading business of pre-owned gold, jewellery and watches. The house notes the rising New Age for pawnbrokers. Sees higher cash needs from tighter loan regulations, reducing social stigma on stronger branding and better quality of service, as key factors lifting demand for pawnshops. The business itself, because of its collateralized financing nature, is inherently lower risk. Phillip believes all three pawnshop chains are expected to experience increase in their pawnbroking profits. Nevertheless, MoneyMax may have a higher growth potential from existing outlets as compared to ValueMax. Moreover MoneyMax?s current P/E valuations lower, more attractive than Maxi-cash.

 

yup! most probably will hit 45 cents this week and perhaps 49 - 50 cents also possible.

susan66      ( Date: 26-Oct-2013 00:54) Posted: Still holding from since listing, nice nice today!

 

Juzt saw pe of Mc and mm is 43 and 12 respectively.

Value is Ipo pri c e at 18 P/E

So MM surely can crawl back to 18 .ie 50centz