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(Forwarded)
Something very funny and I would like to share it out. Will see if the key person would like to clarify it.
It is about the Segment gross profit on sale of unredeemed or bid pledges from the QR.
The GP margin was just increased slightly from 11.3% to 12.98%. How come that little?
Most of the time pawn shop doesn’t give 100% loan amount to the customer, they may disburse loan up to 80%-90% from the actual value. This means they have a 10%-20% minimum profit margin in case the item was not redeemed and goes default.
Besides, the gold price (MYR/gram) has been soared from 250/gram +/- (Oct 22) to 280-290/gram +/- (Jul-Sep 23). It is >12% profit margin.
Easy calculation, (10%-20% minimum profit margin) + (minimum 12% extra gain from gold price)
The segment GP on sale of unredeemed should at least 22%, and up to 32%!! But how come only 12.98%?
Appreciate the key person willing to take this seriously so that the public know what it’s happening.
