I initiated a small position on Parkson Retail Asia yesterday. I will wait for the latest quarter report before I explained in details my buy decision, and to shed more light with more updated figures. I was waiting for the price to fall another 10% since I last blog about it. I got what I wanted. I wanted to buy the counter in February when the Vietnam closure of Keangnam tower Parkson made me think twice. Since then it has fallen even more. If you look at the way Parkson is falling, it is almost like it is a S-chip. It is only less than 30% from its peak. Although there are plenty of headwinds, weak ringgits, competition from e-commerce and other conventional retailers, consumer confidence going down, as well as the hanging compensation issue from Vietnam, but 1) It is a company in net cash. ......