Metro Holdings

[kennynah]

where are their shops now?

one in paragon...where else?

i must say, as a young boy...i used to visit metro after school...for the aircon....

but now, metro doesnt come to mind when i go shopping for apparels...or anything...

the last time i visited must be years ago...and my perception.. a little better than OG..but otherwise, it's a like "no-frills" shop

[tonylim]

Quoted from CNA forum

Metro's AGM

One investor asked why the CEO always keep quiet and never talk , all talks by Chairman, CFO, and Gerald Ong , and why he couldn't talk.
Gerald explained Jopie was a very shy man, seldom talk.

Another one asked Metro keep selling properties and buying properties, was it becos Jopie's salary base on performance and selling properties with profit will benefit Him. Gerald answered was yes, company will pay performance bonuses to him but the reason of selling properties was the intention to benefit him was a firm 'NO'.

Why do you guy think ? Yes or no ?

Unquote

[kennynah]

is metro still in the retail shopping business?

[millionairemind]

is metro still in the retail shopping business?

Sure thing... but the no. of retail outlets that they have are shrinking...

[tonylim]

Retail is no longer the core biz of Metro, Metro is more like a property company now.
FY2010 ;
1)T/O by biz segments (%)
Retail: 63.8%, Property:36.2%

2)PBT by biz segments (%)
Retail: 5.4% , Property :94.6%

[kennynah]

Evidently, metro is making it's profits from property investments, given only ~6% profits come from retail.. Shd they not consider selling their retail business away?

[tonylim]

Metro's Q2 net profit up on property, retail
By FELDA CHAY

Property developer and investment group Metro Holdings Ltd said Friday that net profit for its second quarter rose by more than four-fold on higher revenue from its property and retail businesses.

For the second quarter ended Sept 30, Metro registered $51.9 million in earnings, or 8.2 cents per share. In Q2 last year, net profit was $9.3 million.

Metro, which operates departmental stores in Indonesia and Singapore and owns properties in China, said that the rental income from China is expected to continue growing with improved occupancy rates in its Chinese retail properties.

It added that the 'trading environment for the retail trade in Singapore and Indonesia is expected to remain competitive', and with the base effect waning and year-on-year growth likely to be more subdued going forward.

Revenue for the quarter jumped 19.7 per cent to $43.4 million. As at 2.40pm, Metro's shares were up 1.8 per cent, or 1.5 cents, at 83 cents.

(Vested )


Source: Business Times

[tonylim]

Not so sleepy today.

(Vested)

[tonylim]

METRO HOLDINGS LIMITED

INTENT TO DIVEST IN THE ORDINARY COURSE OF BUSINESS BY METRO
HOLDINGS LTD GROUP OF ITS INVESTMENT IN JOINTLY CONTROLLED
ENTITY OWNING METROCITY BEIJING

The Board of Directors of Metro Holdings Limited (“Metro” or the “Company”)
wishes to announce that Metro City Beijing Pte Ltd (“MCBPL”), a wholly-owned
subsidiary of Metro China Holdings Pte Ltd who in turn is a wholly-owned
subsidiary of the Company, has with China National Arts & Crafts (Group) Corp
(“CNAC”), placed their respective 50% equity interest in Beijing Huamao Property
Co Ltd (“Huamao”) on the China Beijing Equity Exchange (“CBEX”) for tendering
and bidding under the rules of CBEX for state-owned equity transfers. Huamao
owns the retail property known as MetroCity Beijing.

The Company wishes to clarify that the placing by CNAC of its 50% equity interest
in Huamao on the CBEX is in compliance with its obligations as a state-owned
enterprise. The Metro Group intends to divest its 50% equity interest in Huamao at
the same time and on similar terms.

The Company also wishes to inform that there is no assurance that the bidding
process will lead to a sale of the Metro Group’s 50% equity interest in Huamao.
Accordingly, shareholders of the Company are advised to exercise caution in their
dealings in the shares of the Company.

The Company will release the relevant announcement when further material
developments occur.

By Order of the Board
Tan Ching Chek and Lee Chin Yin
Joint Company Secretaries
14 April 2011

[winston]

not vested

Property and retail company Metro Holdings said its fourth quarter net profit jumped 440 percent to S$78.6 million from a year ago, boosted by a gain on the disposal of one of its units, which owns Metro City Beijing.

Source: Reuters