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Falling behind MerryMart in P/BV ratio, Robinsons Retail buys 300-store Rose Pharmacy to solidify further its cash making capabilities

Falling behind MerryMart in P/BV ratio in a wide margin, Robinsons Retail buys 300-store Rose Pharmacy to solidify further its cash making capabilities RRHI a cash machine Robinson Retail Holdings, Inc. (RRHI) has been pandemic resilient.  RRHI proved to be a cash machine amidst the pandemic.  In the first half of 2020 (1H20) when theContinue reading “Falling behind MerryMart in P/BV ratio, Robinsons Retail buys 300-store Rose Pharmacy to solidify further its cash making capabilities”

SEVN with 2,930 stores beaten by MM with 9 in a PE race

Philippine Seven Corporation (SEVN) is the owner of the license to establish and operate 7-Eleven convenience stores in the country.  It is a subsidiary of the President Chain Store Corporation of Taiwan which owns the license to establish and operate 7-Eleven convenience stores in Taiwan. As of June 30, 2020 (1H20), SEVN reported to haveContinue reading “SEVN with 2,930 stores beaten by MM with 9 in a PE race”

Mom & Pop investors chased other Mom & Pop’s MM shares after “dark grocery” unveiled, “dark grocery” could be a cash burner

Ahead of the announcement by MerryMart Consumer Corp. (MM) that it had signed an agreement with FoodPanda Philippines to operate and pioneer the “dark grocery” store concept in the Philippines with the aim of becoming the first 15-minute grocery delivery service in the country, MM was traded heavily. At the September 23, 2020 trading, MMContinue reading “Mom & Pop investors chased other Mom & Pop’s MM shares after “dark grocery” unveiled, “dark grocery” could be a cash burner”

MM has priced in the promise of a future, how long can the market hold on to that promise?

MM is now trading at 3 times its IPO price of 1.00 a share. It is just two months since the IPO but its shares is already 3 times the IPO price and this is despite the fact that the IPO proceeds has not yet been fully used. Clearly the market has priced in theContinue reading “MM has priced in the promise of a future, how long can the market hold on to that promise?”

AREIT holders may have missed the difference between MM and AREIT, AREIT may have to sink further until it finds the yield.

MM and AREIT are two different public offerings, thus, the difference in results. Holders of AREIT may have missed the difference of the two public offerings. MM is a pure initial public offering. It means shares offered to the public comes from the unissued shares of MM or the so called “primary shares.” All theContinue reading “AREIT holders may have missed the difference between MM and AREIT, AREIT may have to sink further until it finds the yield.”

MerryMart (MM) 400% value surge bolsters case for ABS restructuring

MM surge in value could not be justified by fundamentals. Before the public offering (IPO), MM’s balance sheet is at 915 Million Pesos. The proceeds of the IPO at 1,500 Million Pesos (1.5 Billion) doubles MM’s balance sheet. However, the balance sheet growth will not translate into a magnificent net income growth. There is aContinue reading “MerryMart (MM) 400% value surge bolsters case for ABS restructuring”