KUCHING: K-Star Sports Ltd (K-Star) announced that it was expanding its footprint in China by setting up six new wholesale outlets in Northern China through its wholly owned subsidiary, Fujian Jinjiang Dixing Shoes Plastics Co Ltd (Fujian Dixing).
According to its executive chairman and chief executive officer, Ding Jianping, “We have started developing the Northern China market since the middle of this year and as at the end of October this year, K-Star has successfully set up 19 wholesale points, in which six are new outlets located in Urumqi situated in Xinjiang, and the remaining in Russia.
“This marks the recognition and expansion of K-Star products to all the neighbouring countries. K-Star will further leverage on its current wholesale base and identify qualified distributors to operate and manage the point of sales,” he added.
Since its listing in June 2010 on the Main Market of Bursa Malaysia Securities Bhd, K-Star has been actively expanding its business in its quest to achieve its objective of being a long-term key player in the business.
Fujian Dixing, which was initially engaged in the production of shoe soles and canvas shoes, has broadened its business by venturing into the design, manufacture and distribution of sportswear besides its core business of canvas shoes.
Ding added, “K-Star has always believed in the promising export potential of China. This confidence propelled us to begin our first venture of setting up internal wholesale spots in Northern China.
“We have confidence this will help promote our sportswear brand for the export market and capture a greater market share in the country. The new wholesale platforms are expected to prosper alongside the flourishing economy churned by the development of the West and North China markets. ”
K-Star currently has overseas distribution networks in Russia and Eastern European countries including Finland, Ukraine, Belarus, Poland, Finland, Romania, Hungary and the Czech Republic, among other nations.
Fujian Dixing currently generates over 700 designs annually and manufactures approximately 7.9 million pairs of quality sports footwear, out of which 4.3 million pairs are distributed to their retail outlets in the PRC market in 2009.
http://www.theborneopost.com/?p=76159
Vietnam: Stock market keeps falling, stocks dirt cheap
Securities investors say the stocks are now as “cheap as vegetables”. 105 out of 603 share items listed on both the bourses have market prices below the face values.
T, a securities investor earlier this week came to a securities company to reconsider his investment portfolio. In the first quarter of the year, T purchased a large volume of shares on credit. Now, as the stock prices keep decreasing, he has to put more money into his account, or the security company will have to sell his stocks to take back money.
“I cannot sleep for the last month. This is for the third time the securities company threatened to sell my stocks,” T said.
T’s investment portfolio was once worth five billion dong. However, as stock prices have been decreasing, the values of stocks have decreased by a half. T said he has “blue chips” – the stocks of big insurance companies and banks, but it is very difficult to find buyers nowadays, when the stock prices have become “as cheap as vegetables”.
“The shares are now like waste-papers. The dividends are just 3-4 percent per annum,” he said. Twice T had to put more money into his account (more than 400 million dong) in September in order to keep his investment portfolio.
Trinh Hoai Giang, Deputy General Director of the HCM City Securities Company (HSC), also said that stocks are now dirt cheap. 105 out of 603 share items listed on both the bourses now have the market prices below the face values.
On the HCM City bourse, for example, BAS is now selling at 5800 dong per share, CAD 6500 dong, HVX 5900 dong, MHC 5700 dong, while PRUBF fund certificate 5100 dong, TRI 5100 dong. On the Hanoi bourse, SHC is trading at 6500 dong, SVS 7700 dong, TTC 6300 dong and VTA 4200 dong.
According to stox.vn, 280 share items are being traded at the prices lower or equal to the book values, including blue chips.
Le C, a big stock investor said that he and many friends of his are “meeting troubles” because of the stock price decreases. They do not want to put more money into the accounts, and also do not want to sell stocks to take back money. They decide to “nourish” the investment portfolios, hoping stock prices may increase one day.
Head of the brokerage division of a securities company has revealed that the number of repo contracts of his company has been decreasing sharply.
“They have withdrawn money to make bank deposits. Instead of asking me to give advices on stock prices, they ask me to help update gold and dollar price information,” the broker said.
He added that securities investors do not make transactions these days. They just keep the wait-and-see attitude.
According to Le Dat Chi, MA, a securities analyst, the average trading value has been very low since the beginning of November, at 700 billion dong per trading session. This shows that the majority of investors have been staying out of the market.
Analysts say the stock market remains gloomy because investors still cannot see positive signs of the macro economy, while there are signs showing that the cash flow will be tightened towards the year end. Securities investors have been advised to keep cash until the signs about development become clearer.
Giang said that HSC has been mostly selling its stocks since the beginning of the year. It continues selling stocks now to keep cash and hopes that it will not take a loss.
According to Le Dat Chi, securities investors now feel insecure. The cash flow is still running into gold, foreign currencies and bank deposits as the deposit interest rates have been increasing.
Securities investors are awaiting information about CPI in November to decide what they have to do next. If the CPI keeps increasing, the cash flow will keep away from the stock market.
Source: Saigon tiep thi
http://english.vietnamnet.vn/en/business/1656/stock-market-keeps-falling--stocks-dirt-cheap.html
T, a securities investor earlier this week came to a securities company to reconsider his investment portfolio. In the first quarter of the year, T purchased a large volume of shares on credit. Now, as the stock prices keep decreasing, he has to put more money into his account, or the security company will have to sell his stocks to take back money.
“I cannot sleep for the last month. This is for the third time the securities company threatened to sell my stocks,” T said.
T’s investment portfolio was once worth five billion dong. However, as stock prices have been decreasing, the values of stocks have decreased by a half. T said he has “blue chips” – the stocks of big insurance companies and banks, but it is very difficult to find buyers nowadays, when the stock prices have become “as cheap as vegetables”.
“The shares are now like waste-papers. The dividends are just 3-4 percent per annum,” he said. Twice T had to put more money into his account (more than 400 million dong) in September in order to keep his investment portfolio.
Trinh Hoai Giang, Deputy General Director of the HCM City Securities Company (HSC), also said that stocks are now dirt cheap. 105 out of 603 share items listed on both the bourses now have the market prices below the face values.
On the HCM City bourse, for example, BAS is now selling at 5800 dong per share, CAD 6500 dong, HVX 5900 dong, MHC 5700 dong, while PRUBF fund certificate 5100 dong, TRI 5100 dong. On the Hanoi bourse, SHC is trading at 6500 dong, SVS 7700 dong, TTC 6300 dong and VTA 4200 dong.
According to stox.vn, 280 share items are being traded at the prices lower or equal to the book values, including blue chips.
Le C, a big stock investor said that he and many friends of his are “meeting troubles” because of the stock price decreases. They do not want to put more money into the accounts, and also do not want to sell stocks to take back money. They decide to “nourish” the investment portfolios, hoping stock prices may increase one day.
Head of the brokerage division of a securities company has revealed that the number of repo contracts of his company has been decreasing sharply.
“They have withdrawn money to make bank deposits. Instead of asking me to give advices on stock prices, they ask me to help update gold and dollar price information,” the broker said.
He added that securities investors do not make transactions these days. They just keep the wait-and-see attitude.
According to Le Dat Chi, MA, a securities analyst, the average trading value has been very low since the beginning of November, at 700 billion dong per trading session. This shows that the majority of investors have been staying out of the market.
Analysts say the stock market remains gloomy because investors still cannot see positive signs of the macro economy, while there are signs showing that the cash flow will be tightened towards the year end. Securities investors have been advised to keep cash until the signs about development become clearer.
Giang said that HSC has been mostly selling its stocks since the beginning of the year. It continues selling stocks now to keep cash and hopes that it will not take a loss.
According to Le Dat Chi, securities investors now feel insecure. The cash flow is still running into gold, foreign currencies and bank deposits as the deposit interest rates have been increasing.
Securities investors are awaiting information about CPI in November to decide what they have to do next. If the CPI keeps increasing, the cash flow will keep away from the stock market.
Source: Saigon tiep thi
http://english.vietnamnet.vn/en/business/1656/stock-market-keeps-falling--stocks-dirt-cheap.html
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