Ng NG's comment on PARKSON. All Comments
Ng NG
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KUALA LUMPUR (June 24): Parkson Holdings Bhd (KL:PARKSON), whose shares have climbed 24.4% since June 19, has a new substantial shareholder in Irelia Management Sdn Bhd.

According to Parkson’s bourse filings on Tuesday, Irelia Management acquired 78.3 million shares or a 6.815% stake in the department store operator via open market transactions between June 20 and 24.

No price tag was disclosed on the shares traded, however, based on respective closing prices on which the shares were traded, the block was valued at RM18.6 million.

Based on a filing with the Companies Commission Malaysia, Irelia Management is wholly owned by NTG Holding Ltd.  

NTG Holding is the asset holding company of the NTG Strategy Fund SP offered by private equity and alternative asset management firm AEI Capital Group, according to NTG Holding’s website.

Parkson’s largest shareholder is its chairman and managing KUALA LUMPUR (June 24): Parkson Holdings Bhd (KL:PARKSON), whose shares have climbed 24.4% since June 19, has a new substantial shareholder in Irelia Management Sdn Bhd.

According to Parkson’s bourse filings on Tuesday, Irelia Management acquired 78.3 million shares or a 6.815% stake in the department store operator via open market transactions between June 20 and 24.

No price tag was disclosed on the shares traded, however, based on respective closing prices on which the shares were traded, the block was valued at RM18.6 million.

Based on a filing with the Companies Commission Malaysia, Irelia Management is wholly owned by NTG Holding Ltd.  

NTG Holding is the asset holding company of the NTG Strategy Fund SP offered by private equity and alternative asset management firm AEI Capital Group, according to NTG Holding’s website.

Parkson’s largest shareholder is its chairman and managing director Tan Sri Cheng Heng Jem, with a 54.57% stake.

Shares in Parkson ended half a sen or 2% higher at 25.5 sen, valuing the company at RM286.87 million. Year-to-date the stock is up 18.6%.

Sri Cheng Heng Jem, with a 54.57% stake.

Shares in Parkson ended half a sen or 2% higher at 25.5 sen, valuing the company at RM286.87 million. Year-to-date the stock is up 18.6%.
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1 month · translate ·
cheng
takes time, slowly but surely. hope that the board will continue to unlock the value of Parkson given the emergence of new substantial shareholder now. The street likes to see accounting profit instead of generating cash from ops, positive cash flow, double digit operating margins :)
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Like · 1 month · translate
Ricardo Siau
NTG going on a shopping spree for high growth sectors in southeast Asia is aspiring to be a fortune 500 company... Interesting
Like · 1 month · translate
Ng NG
Ntg acquisition of phb shares is very cheap compared to the major shareholders. average cost could be around 0.20. good bargain.... good times ahead !!!
Like · 1 month · translate
cheng
Hope you are still holding it, Ricardo :) many of the previous retail shareholders have sold out after Q4'24 results.
3 Like · 1 month · translate
Ricardo Siau
Cheng, pared down a small portion from 20 every step on the way up, doesn't make sense to sell < 20 considering the lucrative Malaysian retail operations and the up and coming credit business
Like · 1 month · translate
cheng
Congrats, Ricardo. Spot on summary you have there and seems like you have been looking at the numbers/margins :) Indeed PHB consistent double digit margins are driven by PRA margins; the anchor if you will. PRG margins dipped to 5% and below for 2 out of 4 qtrs in FY2024. Q1FY25 is back to double digit. Retail sales data in China is looking good, Parkson Credit is parked under PRG and growing. A consistent double digit margins from PRG coupled with the planned investments will be nice for PHB.
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4 Like · 1 month · translate
cheng
another notable movement in the top 30 shareholdings is Cheng Yong Kim; added ~10mil shares of Parkson based on latest AR. His shareholding has not changed since 2020 and latest AR showing he has increased it to 19+mil. Not sure what is brewing but hopefully the board will work hard to unlock the value of PHB.
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2 Like · 1 month · translate
Ng NG
Tan Sri Albert Cheng Yong Kim, BOD with several Lion group listed companies, related to the biggest shareholder of PHB Tan Sri William Cheng, could be something brewing ....some parties loading up some shares. with their networth acquiring substantial shares is cheap at the current market value.
there are a lot of value in PHB to be unlocked if taken private. One of the properties in Beijing commercial district and another 1 in China is the jewel crown
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Like · 1 month · translate
cheng
will be looking for opportunity to add :)
2 Like · 1 month · translate
cheng
slowly but surely :) Keep going. Hope to see 4th floor soon and continue to converge towards its intrinsic value thereafter.
3 Like · 1 month · translate
Ricardo Siau
Philip capital added 4.5m shares in q1 along with ubs 4m and dbs 1.4m
4 Like · 1 month · translate
Vincent Wong
Ntg pe fund more secure or parkson?Hahaha. Goreng goreng goreng
Like · 1 month · translate
cheng
Both are secured at current price :)
2 Like · 1 month · translate
Ng NG
consolidation done
0.25 resistant done
next 0.30
1 Like · 1 month · translate
cheng
keep going :)
4 Like · 1 month · translate
cheng
Thanks to Mr. Market for the quote. Managed to add some at 0.215.
5 Like · 1 month · translate
Ricardo Siau
Cheng, any stop-loss for this buy order?
Like · 1 month · translate
cheng
No stop loss for this as the risk is low for me, Ricardo. I kept 700 lots free tickets which were mostly bought back in 2023 at 0.135. Rebalanced my position last year after the results of q2fy24 due to its ops margin dropped below 10% driven by PRG and being wary of year end impairment exercise. Didnt add any positions since then until q1fy25 results showing ops margin is above 15% which is higher than q4fy24 ops margin. Added 745 lots yesterday. I will consider increasing my position if ops margins remain strong and rebalance if ops margins starting to show weak numbers.
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4 Like · 1 month · translate
Ricardo Siau
Good jobs... Neither do I
Like · 1 month · translate
cheng
Technically, the current major long term trends is still intact since the breakout at 0.19; above the 2 years downtrend line. Takes time and hopefully will be a worthwhile ride. 3rd higher low since 2020 and hopefully 3rd higher high in the making; internal focus of efficiencies and positive external headwinds of higher consumer spending at the back of lower interest rates and China gomen focus on boosting consumer consumptions. The insiders movement is also a positive factor with the emergence of new substantial shareholder.
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4 Like · 1 month · translate
Vincent Wong
No worry. Ntg pe fund is huge fund. Matter of time. Goreng goreng goreng
1 Like · 1 month · translate
cheng
PRA spiked last week after ex-div adjustment in early Jun. Previous spike in May due to dividend announcement. What's brewing?
4 Like · 1 month · translate
Ng NG
Opportunity to Top Up!
Like · 1 month · translate
cheng
Will do so, Ng :)
3 Like · 4 weeks · translate
cheng
ooh boy. PRA spiked 19% again today :)
1 Like · 4 weeks · translate
Ng NG
PRA spiked 25% now , PHB will follow soon, fingers crossed ?
Like · 4 weeks · translate
cheng
PRG spiked too :)
Like · 4 weeks · translate
Ng NG
yes PRG spiked 25% at the same time
Like · 4 weeks · translate
Ng NG
PHB closed at intraday High. expect a better showing tomorrow since PRA & PRG have spiked past few sessions. PHB will play catching up
Like · 4 weeks · translate
cheng
could be driven by corporate development or better than expected Q2 earnings?
4 Like · 4 weeks · translate
Vincent Wong
Kekekeke. Man man lai
Like · 4 weeks · translate
Ng NG
closed at intraday High today. fingers crossed next week
Like · 3 weeks · translate
Vincent Wong
Slowly pecah pecah
Like · 3 weeks · translate
Ng NG
on the way to 0.30. PHB is lagging behind PRA and PRG recent rally
2 Like · 3 weeks · translate
Ng NG
congratulations to Cheng on your recent 745 lots acquisition.
3 Like · 3 weeks · translate
cheng
Thanks, Ng. PRG gapped up today :)
2 Like · 3 weeks · translate
Ricardo Siau
beautiful chart pattern
Like · 3 weeks · translate
Ng NG
indeed nice chart, looks like head n shoulder but not really, more like a bullish pattern
Like · 3 weeks · translate
Ng NG
28 Jul 2025
3,750,000
Acquired Direct Interest by irelia management

24 Jul 2025

1,399,100

AcquiredDirect InterestName of registered holderIrelia Management Sdn Bhd

25 Jul 2025

396,900

AcquiredDirect InterestName of registered holderIrelia Management Sdn Bhd
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Like · 3 weeks · translate
cheng
Looking really good. Irelia continued to increase its shareholdings :)
Like · 3 weeks · translate
cheng
Parkson Plaza Mianyang Fulin expansion to 5th floor. Existing LG1 to 4th floor occupied by Parkson Plaza. 6th to 10th floor seems to be for offices.
4 Like · 2 weeks · translate
cheng
PRA new 52 weeks high; back to the price in 2016.
2 Like · 2 weeks · translate
cheng
another announcement - glad that the mgmt is now taking more aggressive actions for PRG :) This particular lease was renewed back in early 2019 for 10 years until end of 2028; total rental payable for 10 years = RMB670mil equivalent to RMB16.75 mil per qtr back then. Stop the losses and focus on profitable stores/locations.
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5 Like · 2 weeks · translate
Ng NG
indeed, a good decision by the management close non performing business unit
Like · 1 week · translate
cheng
Irelia in actions again? if it is true, safe to assume Irelia's avg ticket price is around 0.21/0.215.
4 Like · 1 week · translate
Ng NG
no announcements from irelia in regard to shares acquisition. probably they will acquire more before making announcement
Like · 1 week · translate
cheng
Irelia's power :)
Like · 1 week · translate
Ng NG
13 Aug 2025
1,256,900
Acquired Direct Interest
Name of registered holder Irelia Management Sdn Bhd
Address of registered holder No. 43 Jalan SS15/2A 47500 Subang Jaya Selangor Malaysia
Description of "Others" Type of Transaction
2 14 Aug 2025
1,191,400
Acquired Direct Interest
Name of registered holder Irelia Management Sdn Bhd
Address of registered holder No. 43 Jalan SS15/2A 47500 Subang Jaya Selangor Malaysia
Description of "Others" Type of Transaction
3 15 Aug 2025
2,760,000
Acquired
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Like · 6 days · translate
Ng NG
Direct InterestDirect (units)89,054,700Direct (%)7.751Indirect/deemed interest (units)Indirect/deemed interest (%)Total no of securities after change89,054,700Date of notice15 Aug 2025
Like · 6 days · translate
cheng
Thanks, Ng. confirmation of estimated avg price for Irelia :) let's see whether Irelia can push it above the 0.26 level which has been blocked for few weeks or it will be looking for opportunity to accumulate on weakness again.
4 Like · 6 days · translate
cheng
PRA gapped down few days ago and apparently it's due to qr loss; - SGD100k driven by lower revenue + higher wage & expenses for private label expansion. Net loss seems small on the surface but higher wages/expenses is a structural/permanent change which requires revenue growth to be higher by ~10% to offset the structural change. PRG report will be released on 21st Aug.
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4 Like · 5 days · translate
Ng NG
about time, irelia to enter market to acquire shares
Like · Yesterday · translate
cheng
PRG report out later in the evening. No profit warning announced to the exchange since the announcement of the board meeting date. PHB report to follow suit.
Like · Yesterday · translate
cheng
Irelia has been acquiring on weakness/pullbacks, Ng. Lets see whether Irelia will switch to buy on strength after the QR; during the safe 3 months period.
Like · Yesterday · translate
cheng
PRG's results - Profit attributable to owners of the Company for the period was RMB22.5 million and loss attributable to owners of the Company was RMB18.6 million recorded for the corresponding period of last year.
2 Like · 22 hours · translate
Ng NG
Parkson Retail Group Limited reported its interim results for the six months ended June 30, 2025, showing a slight increase in total operating revenues to RMB1,962.8 million, despite a decrease in same store sales by 18.4% and a decline in total gross sales proceeds by 11.5%. The company achieved a profit from operations of RMB257.6 million, marking a significant improvement from the previous year, and declared an interim dividend of RMB0.02 per share, reflecting a positive turnaround in profita
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1 Like · 21 hours · translate
Ng NG
wow.... declared dividend!

hopefully PHB will declare dividend too.

the above yet to be verified.
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Like · 21 hours · translate
Ng NG
HIGHLIGHTS
Total operating revenues for the period amounted to RMB1,962.8 million, representing an
increase of 0.9% as compared to RMB1,944.7 million for the corresponding period of last
year.
Same store sales (“SSS”) for the period decreased by 18.4%.
Total gross sales proceeds (“GSP”) inclusive of value-added tax for the period were
RMB4,155.3 million, representing a year-on-year decrease of 11.5%.
Profit from operations for the period was RMB257.6 million, representing an increase o
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Like · 21 hours · translate
Ng NG
Profit attributable to owners of the Company for the period was RMB22.5 million and
loss attributable to owners of the Company was RMB18.6 million recorded for the
corresponding period of last year.
Declared interim dividend of RMB0.02 per share.
Like · 21 hours · translate
Ng NG
During the Review Period, the global economic environment faced persistent headwinds
characterised by heightened uncertainties. It is entering a “low growth, high volatility” new
normal, shaped by escalating trade conflicts and policy volatility. Even though the economy
of the People’s Republic of China (the “PRC”) has demonstrated strong resilience and vitality,
the consumption market in the PRC is going through a landscape of moderate consumption
recovery and deepening consumption fr
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Like · 21 hours · translate
Ng NG
Looking ahead, amid the growing diversity in consumer demands and the increasing
competition in the retail industry, the Group remains focused on its core business and
operational innovation to stay agile and competitive in a rapidly changing market.
Despite the complex and volatile prevailing economic environment, the Group remains active
in seeking strategic business expansion to seize growth opportunities where the Group has
established presence, while investing in stores renovation
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Like · 21 hours · translate
Ricardo Siau
Result would be terrible without the 111m lease modification/termination income... however, management did a terrific job reining in costs
Like · 15 hours · translate
Ricardo Siau
improving the operating margin from 4.6% to 6.8% and expanding the credit services are commendable
Like · 15 hours · translate
Ng NG
PRG up 15% at open.
now up 24%
Like · 7 hours · translate
Ng NG
my gut feel PHB may declare bonus, which could explain the reason why irelia is buying in
Like · 7 hours · translate
Ng NG
parkson sale will be over soon!
Like · 6 hours · translate
cheng
actually, the results is pretty good from the baseline of "China ops is struggling", Ricardo. The headline operating margins was at 13.1% (operating profit/total operating revenue) and assuming we strip off the lease termination income, the normalized operating margins will be at 7.4%. The headline operating margins was the 3rd highest quarter over the last 3 fiscal years. There is something else that is growing organically from the report - % of direct sales from total sales. It has reached 30%. It seems to me that private labels is doing really well in China and hence, PRA latest report showing that mgmt has started to expand the private labels too. Direct sales contribution to PRG has always been mid to high twenties while PRA is less than twenties. Private labels tends to have higher margins compared to concessionaire sales.
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2 Like · 6 hours · translate