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Is The Worst Over For MyNews?
By Value Invest Asia  •  September 24, 2021
It has been a tough 18 months for Malaysian convenience chain store operator MyNews Holdings Berhad (KLSE:MYNEWS) (“MyNews”) since the outbreak of Covid-19.  Recently, the group reported that its net loss widened to RM10.32 million in the second quarter ended April 30, 2021 (2QFY21) – the largest quarterly loss since it was listed in 2016, compared with RM8.94 million in the preceding quarter.  Quarterly revenue, however, increased 5.47% to RM103.94 million against RM98.65 million in 1QFY21, but was 15.8% lower compared with RM123.49 million in the previous corresponding quarter of 1QFY21. In addition to a full quarter of different shapes of movement controls, MyNews said the performance was also adversely affected by uncertainties and random standard operating procedures (SOP) changes to critical business elements such as the permissible business hours.  Drop in business was compounded by increase in price of merchandise that in turn caused the product sales mix...
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By Value Invest Asia
Value Invest Asia started as a simple idea. While we are still studying for the Chartered Financial Analyst Program, three of us met at a CFA event. We were just starting out in our career but we found out even then, that not many people in the financial world are true believers of value investing ...
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