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+0.03
been rising of late, van houten Choco revival?
gd luck dyodd
+0.03been rising of late, van houten Choco revival?
gd luck dyodd
will be next japfa?
You are too kind sir, just learning from all the wise and selfless folks around and of course own research.
Business fundamentals speak for itself and unless that has changed (which has not presumably from management' s recent sharing at AGM), the investment proposition on this stock is intact. Having gone through the last crisis personally, there are a few key metrics which matter most - gearing, balance sheet and cash flow, of which Delfi ticks all the boxes. They guided that impact from Covid-19 is marginal at present given that their distribution channels are mostly unaffected, so they should be able to sustain the ability to generate positive operating and free cash flow. This is particularly true given the relatively limited CAPEX expected for this year given most investments were done over the past few years.
Valuations wise - at ~10x PE, 0.6x P/S, it is very undervalued for a leading consumer player in growth economies of Indonesia and Philippines. Those emerging markets definitely see greater growth potential led by domestic consumption once things normalise post Covid-19. Relative to peers, Mayora trades at 24x PE so that itself demonstrates the valuation gap. This reminds me of Riverstone against its Malaysian glove manufacturer peers and how the re-rating came in very strongly once the discovery process kicks in.
Personally, my biggest concern for any Indonesian companies is corporate governance. The silver lining however lies in their consistent dividend payouts of at least 50% payout ratio. It presently offers 4.6% yield. The board also has some prominent figures such as Mr Davinder Singh.
Quite frankly, it probably makes more sense for the family to just privatise the company given the small free float. Can easily offer a 30-50% premium from current price yet still undervalued relative to peers, relist the stock at higher PE multiples post Covid-19 and continue to grow the business meanwhile - not easy to find a company with $30-40m net profit listed on SGX with good fundamentals.
Business fundamentals speak for itself and unless that has changed (which has not presumably from management' s recent sharing at AGM), the investment proposition on this stock is intact. Having gone through the last crisis personally, there are a few key metrics which matter most - gearing, balance sheet and cash flow, of which Delfi ticks all the boxes. They guided that impact from Covid-19 is marginal at present given that their distribution channels are mostly unaffected, so they should be able to sustain the ability to generate positive operating and free cash flow. This is particularly true given the relatively limited CAPEX expected for this year given most investments were done over the past few years.
Valuations wise - at ~10x PE, 0.6x P/S, it is very undervalued for a leading consumer player in growth economies of Indonesia and Philippines. Those emerging markets definitely see greater growth potential led by domestic consumption once things normalise post Covid-19. Relative to peers, Mayora trades at 24x PE so that itself demonstrates the valuation gap. This reminds me of Riverstone against its Malaysian glove manufacturer peers and how the re-rating came in very strongly once the discovery process kicks in.
Personally, my biggest concern for any Indonesian companies is corporate governance. The silver lining however lies in their consistent dividend payouts of at least 50% payout ratio. It presently offers 4.6% yield. The board also has some prominent figures such as Mr Davinder Singh.
Quite frankly, it probably makes more sense for the family to just privatise the company given the small free float. Can easily offer a 30-50% premium from current price yet still undervalued relative to peers, relist the stock at higher PE multiples post Covid-19 and continue to grow the business meanwhile - not easy to find a company with $30-40m net profit listed on SGX with good fundamentals.
Elf2000 ( Date: 11-May-2020 21:57) Posted:
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Has been going down from $2 to now
Quite pathetic
Don?t know where is the bottom
Indeed it?s a good buy actually
Quite pathetic
Don?t know where is the bottom
Indeed it?s a good buy actually
You are really an old bird👏 👏 👍
n3wbie ( Date: 11-May-2020 18:55) Posted:
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Oops! *should read as retail investors🤭
Elf2000 ( Date: 11-May-2020 18:20) Posted:
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Thought it was quite weird that RHB downgraded them few days before the AGM where the share price rallied strongly after. RHB slashed earnings estimates by almost half but management is guiding for minimal impact thus far. Oh well, rule of thumb, never believe in what the analysts say blindly and we' ve got to do our own homework and research.
The Q& A published offered some insights too, of course some are just standard holding statements.
The Q& A published offered some insights too, of course some are just standard holding statements.
Elf2000 ( Date: 11-May-2020 18:20) Posted:
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How come on 27 April 2020 RHB downgraded this gem from $1.68 to $0.74🤔 165% downgraded 😮 that was a huge percentage! Anything that BBs knew and retailers still not know yet? Hope the price will touch $0.74 and then stable there...
About time that the market appreciates this undervalued gem. Mayora its closest and smaller peer, 2nd largest after Delfi in Indonesia trades at 24x PE while Delfi now trades at 11x PE with a yield of 4.5%.
Attended their virtual AGM recently and management was cautious but positive. Despite the outbreak of Covid-19, their distribution channels - supermarkets and minimarts in Indonesia remain largely unaffected. Cash flow and working capital management also have minimal disruptions. They had budgeted for a larger depreciation in rupiah but USD/IDR appreciation was less than 10% and in fact, USD has been weakening in recent weeks. In terms of raw material costs, they are also well hedged so impact to earnings should be relatively minimal. As expected, management is of course cautious and continues to watch the situation closely but it was very encouraging indeed that their operations had minimal disruptions thus far.
Attended their virtual AGM recently and management was cautious but positive. Despite the outbreak of Covid-19, their distribution channels - supermarkets and minimarts in Indonesia remain largely unaffected. Cash flow and working capital management also have minimal disruptions. They had budgeted for a larger depreciation in rupiah but USD/IDR appreciation was less than 10% and in fact, USD has been weakening in recent weeks. In terms of raw material costs, they are also well hedged so impact to earnings should be relatively minimal. As expected, management is of course cautious and continues to watch the situation closely but it was very encouraging indeed that their operations had minimal disruptions thus far.
shhhhh
Now trading at below $0.90 nobody want to buy... later touch $0.85 then everybody start to panic buy😎
Added !!
Sweet...sweet
Sweet...sweet
sengsk ( Date: 30-Apr-2020 19:32) Posted:
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:)
SmallSmall ( Date: 05-May-2020 14:47) Posted:
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Waiting to happen... $1.00😁
Situation in indo, Phil and Europe not looking good tho.. I would wait out to get a clearer picture before vesting. Just my 2 cents. Not vested. Hope yall huat huat88 cheers!
XD still going up. Solid. Having crashed from about $1 since Covid 19, it is slowly crawling back. Smaller shareholder sale is cushioned by the bigger substantial shareholder' s purchases.
Suspect today' s block trades are purchases made by he controlling shareholder.
Suspect today' s block trades are purchases made by he controlling shareholder.
Elf2000 ( Date: 02-May-2020 15:07) Posted:
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If don't go down $0.66 I very happy already.
sengsk ( Date: 30-Apr-2020 16:43) Posted:
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First green shoot after months of sell down. Smaller shareholder selling but Major shareholder buying. Great stock to invest and hold :)
Market has bottomed and are already starting to price in for recovery 6 months ahead. Not just this stock. Many many more. 😊
Market has bottomed and are already starting to price in for recovery 6 months ahead. Not just this stock. Many many more. 😊
Good forecast for this company! Can reach $1 in the next few months.
Weak Resistance
Target Price = 1.00
Target Price = 1.00