Choppies leads BSE in January
Tuesday, February 04, 2014
Choppies led the BSE in its listing year of 2012, gaining 78% in the 12 months after its January 26 debut. In 2013, the retailer was the third highest gaining counter on the BSE, returning gross value of 63.9% to its shareholders.
As at last Friday, Choppies’ share price had risen more than three and a half times from its listing price of P1.15, being one of the most sterling performances by a BSE debutant in recent years.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...