ShareJunction - Member Posts

x 0

Viking Offshore and Marine Ltd 14-Nov-12 Share Buy-Back 146,000 0.1060

x 0

let's got semb mar 4.26!

buy on bad news (low) sell on good news (high)

go go go

gd luck dyodd

x 0

great set of results profit surge 90%

continue to accumulate on dip

gd luck dyodd

ozone2002 ( Date: 23-Aug-2012 11:14) Posted:

gd biz, market leader in russia, undervalued relative to peers and most important neglected by investors..

FOOD EMPIRE: Net profit up 25% to US$8.7 m in 1H2012

Written by Sim Kih

Thursday, 23 August 2012 07:10

Food Empire's successful marketing campaigns has made its flagship MacCoffee Russia's no.1 brand for 3-in-1 instant coffeemix.

Food Empire stock has risen steadily this year. Chart: Bloomberg

SUPER GROUP has done superbly, its shares rising from $1.29 at the start of this year to $2.19 this week.

Now, consider another instant coffee player listed on the Singapore Exchange -- Food Empire.

Its stock started the year at 31 cents and ended last week at 43 cents.

We checked out its story, and found things to like about it.

Its revenue for the first half year was US$110.7 million, an increase of 3.4% year on year.

Profit after tax jumped 24.6% to US$8.7 million on improved margins and a tax write back.

The improved margins arose from decreases in the prices of the raw materials it used for its coffee products - coffee, sugar and creamer.

Unlike Super Group which focuses on markets such as Singapore and the region, Food Empire is big on Russia, where its sales stood at US$64.9 million in 1H.

Food Empire's other key markets are Eastern Europe and Central Asia (comprising Ukraine, Kazakhstan and the CIS Countries) where sales rose by 4.4% to US$33.1 million

Historically, people in Russia, Middle East, China and India have not consumed vast quantities of coffee.

But in the recent decade, coffee cultures have been developing in these regions at rates that beat economic growth.

For example, China’s annual coffee consumption is growing rapidly at around 15% a year.

Coffee drinking is still at an infancy stage in China, where per-capita consumption is about 3 cups a year, versus 3.5 cups a day in the US.

Which is why Food Empire wants to penetrate the Chinese and India market.

Last month, it incorporated subsidiaries in China and India to bring its products into China and to manufacture instant coffee in India.

Right place right time

Founder Tan Wang Cheow has been featured in Forbes magazine.

Food empire founder Tan Wang Cheow did not start out in F& B, but was exporting personal computers and related peripherals to Eastern Europe and Central Asia in the late eighties.

Some of these countries had freezing winters with temperates dropping below 30 degrees Celcius. People drank Vodka and bought hot coffee beverages from street side stalls to keep warm.

He decided to provide a convenient solution to help people keep warm and the group started distributing third party brands of 3-in-1 instant coffee in Kazakhstan and Russia in 1993.

When Soviet Union disbanded in 1991, Mr Tan’s F& B products sold like hot cakes to pent-up demand for all manner of capitalist goods.

About 57% of Group revenue in FY2011 was from Russia, where its flagship MacCoffee has been consistently ranked as the leading 3-in-1 coffeemix brand.

William Fong, CFO of Food Empire.

Other than Russia, MacCoffee is also the no.1 coffee brand in Ukraine and Kazakhstan. Food Empire products are exported to over 60 countries, especially Central Asia and the Middle East.

It markets over 400 types of products under its proprietary brands, which also include MacChocolate, MacTea, FesAroma, MacCandy, Zinties, Melosa, Petrovskaya Sloboda, Klassno, OrienBites and Kracks.

Like everyone else, Food Empire wants a piece of the China pie, but its F& B market is known to be the toughest in the whole world.

Singapore F& B players have a track record of success there.

Food Empire looks relatively undervalued. Bloomberg data

Viz Branz, which owns Gold Roast, BenCafe, Café 21, CappaRoma and Jaffa Juice, derives half of group revenue from China.

In FY2011, its sales from China grew 10.5% year-on-year to reach S$83.4 million.

Super, Southeast Asia's leading 3-in-1 coffeemix player, has also made headway in China with non-diary creamer ingredient sales.

Its brands include Super, Café Nova, Super Power, Owl, Yé Yé, Coffee King, Gold Eagle, Negresco, Eagle King, Liang Bao and Superkids.

Food Empire has been very successful employing sophisticated brand-building activities, after the style of the world's top brands.

It is so good at marketing that in spite of the runaway success of its own brand, 18.6% its FY2011 revenue was from marketing and packaging services for third party brands.

The company invests in creative advertisements and promotions, as well as sponsorships to ensure high brand cognition when consumers shop.

The question is, will it be able to export its successful branding and marketing campaigns to new markets like China and India?

x 0

got @ 4.2

wait for contract wins for the rest of 2012

gd luck dyodd

x 0

making progress .. UOBKH just issued their buy recommendation report.. 78c

gd luck dyodd
Sino Grandness Food (SFGI SP)
Strong earnings growth + catalyst = BUY
BUY
Price/Target
Mkt. Cap/ F. Float
+64.2%
S$0.475/S$0.78
S$126.0m/56%
Fundamental View Technical View
Source: Nextview
The stock appears to be supported at above $0.455 and it
could move towards its potential resistance at S$0.525.
Financials
Year to 31 Dec
(Rmb m) 2010 2011 2012F 2013F 2014F
Net turnover 645.1 1,019.7 1,666.3 2,315.7 2,466.8
EBITDA 166.2 227.0 396.7 510.0 543.7
Operating profit 155.9 210.5 370.5 477.6 510.0
Net profit 117.2 151.7 272.6 347.2 372.8
EPS (RMB cent) 44.1 56.9 102.5 130.6 140.3
Net margin (%) 18.2 14.9 16.4 15.0 15.1
Dividend yield (%) 1.8 0.0 0.0 0.0 2.9
P/E (X) 5.4 4.2 2.3 1.8 1.7
P/B (X) 1.5 1.1 0.8 0.5 0.4
ROE (%) 27.8 27.2 32.8 29.5 24.0
Source: Company, UOB Kay Hian
Valuation
•
2012F PE (ended Dec 12) and 0.135x PEG (2012-14F).
Currently, the fast-moving consumer goods (FMCG) peers in
Hong Kong are trading at an average of 33.2x FY11 PE.At the current share price of S$0.475, it is trading at 2.3x
•
2013F PE, pegged to Singapore-listed peers’ average. We
note the potential upside of S$1.12/share if GF obtains
approval from an exchange to list assuming a holding
company discount of 20% to SGF’s Garden Fresh stake and
a 3.0x 2014F PE valuation to its remaining business.We have a target price of S$0.78 which translates into 3.0x
Financial Highlights
•
on higher revenue, and stronger gross profit margins
despite greater operating costs. Revenue increased 68.1%
yoy to Rmb1.23b, boosted by yoy growth of 130.2% and
30.6% in sales for the beverages and canned food segments
respectively.SGF reported a 72.4% leap in 9M12 net profit to Rmb224m
•
stronger than expected as SGF managed to leverage on the
current beverage distribution network to sell their ownbrand
bottled fruits. This segment’s Rmb85.3m sales also
enjoyed a higher gross margin of more than 40% that lifted
the group’s gross margin to 39.2% in the same period from
34.4% in 9M11. However, selling and distribution expenses
and administrative costs rose 116.2% yoy and 39.5% yoy
respectively as higher sales volume resulted in higher labour
costs and transportation expenses.Domestic sales of the canned food segment performed
•
Fresh bottled juices output capacity to 280,000 tonnes p.a.
from 70,000 tonnes p.a. a year ago by securing new
capacities based in Zhejiang, Beijing and Sichuan provinces.
The strategically-located supply points will also assist SGF in
extending their distribution network to north and west China
without incurring higher transport costs. Assuming that SGF
fully utilised the capacity and sold juices at an ASP of
Rmb5000/tonne, the group can record potential sales of
Rmb1.4b and Rmb245.0m using historical net profit
margins.The group had announced that it had quadrupled its Garden
•
increasing its A& P activities through advertisements, trade
shows, sponsorship programmes as well as new TV
commercials for Garden Fresh juices.The group will also boost its sales and marketing efforts by
Risks
•
accounted for more than 80% of total in-house production
cost for canned F& B segment manufacturing. Any sharp
movements in raw material prices would erode SGF's GPM if
the group is unable to adjust the ASP accordingly.Volatility in raw material prices. Raw agricultural products
•
both CB1 and CB2 were issued on the premise for GF’s
eventual listing, SGF would have to redeem the bonds at an
effective interest rate of more than 24% if the beverage
business is unable to complete the IPO process.
Sino Grandness is an integrated manufacturer and
distributor of bottled juices as well as canned fruits and
vegetables. Since its establishment in 1997, the group has
rapidly grown to become one of the leading exporters of
canned asparagus, long beans and mushrooms from China.
The group serves globally renowned customers across
Europe, North America and Asia, such as Lidl, Rewe,
Carrefour, Walmart, Huepeden, Coles and Metro.
In 2010, the group successfully launched its own-branded
bottled juices,
juice and vegetable-fruit juice to target the huge
domestic consumer base in China. As a percentage to group
revenue, sales from the Chinese market have surged from
4.8% in 2008 to 41.9% in 2011 due to strong sales growth

of its own-branded bottled juices.Failure to launch an IPO listing of Garden Fresh (GF). As鲜绿园 (“Garden Fresh”) comprising mixedfruit

x 0

broke resistance..more upside to come

vested again

gd luck dyodd

x 0

x 1

it's a good ride up..

super uptrend..

time to take profits

gd luck dyodd

x 0

patience is the key ..

once you have found a good stock/biz..

it will be just a matter of time before the herd notices and rushes in..

by then those who vested earlier will reap the bigger share of the pie..

gd luck dyodd

x 0

tried to get @ 4.3 didn't managed to get any..

will continue trying

sembmar earnings visibiliy is for investors to see..

$12.1 bn order book.. i saw the Edge article on Sembmar... unprecedented order book!

it's definitely a buy on dip for me.. accumulate on weakness..

gd luck dyodd

x 1

x 0

saw DMG's report on Ausgrp..

states that ausgrp current valuations are underserved..

MEANS that it's FREAKING undervalued.

i will continue to buy on dip .. PE still less than 10x... business is improving

gd luck dyodd ..

ozone2002 ( Date: 07-Nov-2012 11:12) Posted:

expected some selling pressure as indicated in my post due to the bullishness of the buy ups yesterday

uptrend looks to be intact with technicals oversold

fundamentals still a low 7.5x PE

gd luck dyodd

ozone2002 ( Date: 06-Nov-2012 22:07) Posted:

price rise today was due to very insignificant sellers in the market..

majority of the volume done was buy ups, hence the rise in prices...

tmr may face some selling, lookin to buy on dip.. uptrend intact, technicals moving up from oversold position

gd luck dyodd

x 0

very very promising counter.. up when all are red..

now 1.43..

gd luck dyodd

ozone2002 ( Date: 07-Nov-2012 11:42) Posted:

very promising counter..

gd luck dyodd
Building a solid base (DBS)
•
strengthening ties FY13/14F lifted 6-7%Repeat business from Pemex underscores
• Mr. Tan Boy Tee unveiled as strategic partner and coinvestor
• 3Q12 in line 4Q should be sequentially stronger
• BUY maintained TP raised to S$1.82
Repeat business from Pemex indicates strengthening
relationship FY13/14F lifted 6-7%.
another pair of service rig contracts from Pemex worth
US$298m over a 7-year period. This will be executed via a
50/50 JV with Kim Seng Holdings, implying limited impact to
Ezion’s balance sheet. These rigs will add US$10.3m/year to
Ezion’s earnings and lift our FY13/14F by 7%/6%.Ezion has announced
New strategic partner.
veteran, Mr. Tan Boy Tee, as its strategic partner. Mr. Tan, an
existing Ezion shareholder, will subscribe for 10m new shares
and concurrently acquire another 10m Ezion shares from
Ezion’s CEO. Dilution from this exercise is only a mere 1.2%,
while Ezion shareholders will stand to gain from his vast
industry experience and his ability to co-fund future projects
with Ezion.Separately, Ezion unveiled industry
3Q12 results in line.
core net profit +24% y-o-y /+8% q-o-q to US$16.1m. This
was on the back of the deployment of two additional liftboat
and service rig as compared to 3Q11, and the commencement
of the QCLNG project during the period.Ezion’s 3Q12 results were in line, with
Maintain BUY, TP raised to S$1.82.
S$1.82 on higher FY13F earnings and adjusting for marginal
dilution from the proposed new share issuance to Mr. Tan.
Maintain BUY as Ezion continues to execute well and deliver
on earnings. With Mr. Tan now roped in as a strategic
partner and co-investor, we see a greater possibility for Ezion
to undertake more projects without significantly stretching its

balance sheet further.Our TP is raised to

x 0

{DBS}

MIDAS announced it expects to book at loss for 3Q12 due to

1) lower revenue 2) higher operating and finance costs as

well as 3) share losses from associate Nanjing Puzhen Railway

Transport. For the 9 months till Sept12, Midas still expects to

stay profitable. While the 3Q12 loss is unexpected by our

analyst, he maintains his view that the company should be

able to achieve a strong turnaround next year for its core

aluminium extrusion business.

x 0

{DBS}

ST Engineering reported 3Q12 net profit of S$146m (+9% y-oy),

which is ahead of our estimates. There is a margin

improvement across all segments. YTD order wins of S$3.5bil

has already surpassed FY11 levels, which will underpin

FY13/14 earnings visibility. Our analyst revises up FY12/13F

earnings by 3-4%. Maintain BUY with higher TP of S$3.80

(from $3.60).

x 0

STI continues choppy trend, gradual downward bias to

2985 (by DBS)

� �

(from $1.57)

Eurozone woes shifted back to the limelight. The European

Commission slashed its 2013 Eurozone economic growth

forecast to just 0.1% from 1% forecasted 6 months ago. The

EU’s autumn economic forecasts said the Eurozone GDP will

contract 0.4% this year and that it would take until 2014 to

recover to 1.4%. Meanwhile, Germany’s industrial production

fell a worse than expected 1.8% in September versus

consensus for a 0.5% decline. Spain’s industrial output

tumbled 7% in September, also far worse than the 3.6%

forecasted. There was also nervousness ahead of the Greece

lawmaker’s vote to push through an unpopular austerity bill

needed to unlock bailout funds.

The positive close to Asian equity bourses yesterday indicates

that the tumble on Wall Street last night was unexpected.

Thus, a downward knee jerk reaction is expected today.

Regional bourses are currently down 0.8-1%. The choppy

trend continues on the STI – Tuesday was down, yesterday was

up, today is down. STI has also fallen below 3030, which

heightens the risk for a downward bias to 2985, in a choppy

manner.Biosensors results below estimates, TP reduced to $1.41

x 0

buy china stocks..recommend sino grandness..recent net profit up ~90%

gd luck dyodd

In our view, Barack Obama's reelection as US president is positive for the Chinese economy and Sino-US relations, relative to the scenario of a Romney win. Our reasons are:

1) The US economy is already on a path towards recovery, and the continuation of the Obama administration will provide policy certainty and thus less economic volatility for the rest of the world economy. Given that about 20% of Chinese exports go to the US market, China's economic performance is sensitive to the US economy. China should worry less about a sudden change in policies and export demand from the US under Obama.

2) Obama is less likely to launch a trade war against China. In the election campaign, Romney has been significantly harsher than Obama on China, claiming that he would name China as a currency manipulator immediately after he takes office. With Obama in office for four more years, we should expect relatively fewer " accidents" in Sino-US economic relations.

3) The Obama win is positive for maintaining a conducive international environment for reforms in China. The Obama administration has been working closely with the Chinese policy makers on a range of issues via the US-China Strategic Dialogues. In these dialogues, the two sides have agreed on principles for many reforms in China and the US. On reforms in China, the key agreements include further efforts to liberalize the financial sector, to open the capital account, to permit greater RMB flexibility, and to increase the dividend payout ratios from SOEs to the budget. In our view, these market-oriented reforms can be more easily carried out in a friendly international environment (with Obama as US President), but could face greater domestic opposition in China if the US-China relations deteriorate (under Romney).

x 0

very promising counter..

gd luck dyodd
Building a solid base (DBS)
•
strengthening ties FY13/14F lifted 6-7%Repeat business from Pemex underscores
• Mr. Tan Boy Tee unveiled as strategic partner and coinvestor
• 3Q12 in line 4Q should be sequentially stronger
• BUY maintained TP raised to S$1.82
Repeat business from Pemex indicates strengthening
relationship FY13/14F lifted 6-7%.
another pair of service rig contracts from Pemex worth
US$298m over a 7-year period. This will be executed via a
50/50 JV with Kim Seng Holdings, implying limited impact to
Ezion’s balance sheet. These rigs will add US$10.3m/year to
Ezion’s earnings and lift our FY13/14F by 7%/6%.Ezion has announced
New strategic partner.
veteran, Mr. Tan Boy Tee, as its strategic partner. Mr. Tan, an
existing Ezion shareholder, will subscribe for 10m new shares
and concurrently acquire another 10m Ezion shares from
Ezion’s CEO. Dilution from this exercise is only a mere 1.2%,
while Ezion shareholders will stand to gain from his vast
industry experience and his ability to co-fund future projects
with Ezion.Separately, Ezion unveiled industry
3Q12 results in line.
core net profit +24% y-o-y /+8% q-o-q to US$16.1m. This
was on the back of the deployment of two additional liftboat
and service rig as compared to 3Q11, and the commencement
of the QCLNG project during the period.Ezion’s 3Q12 results were in line, with
Maintain BUY, TP raised to S$1.82.
S$1.82 on higher FY13F earnings and adjusting for marginal
dilution from the proposed new share issuance to Mr. Tan.
Maintain BUY as Ezion continues to execute well and deliver
on earnings. With Mr. Tan now roped in as a strategic
partner and co-investor, we see a greater possibility for Ezion
to undertake more projects without significantly stretching its

balance sheet further.Our TP is raised to

x 0

expected some selling pressure as indicated in my post due to the bullishness of the buy ups yesterday

uptrend looks to be intact with technicals oversold

fundamentals still a low 7.5x PE

gd luck dyodd

ozone2002 ( Date: 06-Nov-2012 22:07) Posted:

price rise today was due to very insignificant sellers in the market..

majority of the volume done was buy ups, hence the rise in prices...

tmr may face some selling, lookin to buy on dip.. uptrend intact, technicals moving up from oversold position

gd luck dyodd

x 0

Sino grandness reported a stellar performance for its recent financial announcement

problem with this stock is that the awareness for this stock has not been raised

if they could get more awareness through fund managers, brokerage firm analyst to cover the stock

this will create more attention for the stock and hence increase the market activity for the stock

gd luck dyodd

x 0

i rather the company use the retain earnings if they can command a high return on those earnings in the

business than give the shareholders dividend..

by doing this, the shareholders gain more through capital appreciation through stock prices..

gd luck dyodd

x 0

price rise today was due to very insignificant sellers in the market..

majority of the volume done was buy ups, hence the rise in prices...

tmr may face some selling, lookin to buy on dip.. uptrend intact, technicals moving up from oversold position

gd luck dyodd