I love PADINI for its steady growth, prudent and conventional management and deliver consistent dividends four times a year.
At the AGM this year which may not be well-attended, many shareholders raised concerns of the apparel business and the Internet/e-commerce wave which will surely affect the retail business of PADINI. As shareholders can expect, the board of directors did not go quick enough to explore these new platforms. Apart from presence at Zalora, they are still in midst of discussion with Lazada and Shopee. Seriously? Still discussing?
One shareholder pointed out the number of family members in the board, further taking his time to explain the succession and leaving the business to better people. Wasting much time, quite a few shareholders including me left the AGM. In fact, many shareholders did not mind the number of family members as long as they still deliver consistent profits.
Prudent management is good. Food voucher is provided. This can be seen as a saving but the food is good and to me, quite sumptuous already.
One shareholder asked that the company provide vouchers for shareholders who will be willing to wear our company’s apparels in the next AGM. He also said that their annual report should show pictures of the directors wearing our company’s products.