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KLSE: OLDTOWN       OLDTOWN BERHAD
Last Price Avg Target Price   Upside/Downside Price Call
3.15 3.00     -0.15 (4.76%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
12/12/2017 3.10 3.18 +0.08 (2.58%) HOLD JF APEX Price Target News
12/12/2017 3.10 3.18 +0.08 (2.58%) BUY HLG Price Target News
12/12/2017 3.10 3.20 +0.10 (3.23%) BUY AMMB Price Target News
04/12/2017 2.60 2.60 0.00 (0.00%) HOLD MIDF Price Target News
04/12/2017 2.60 3.15 +0.55 (21.15%) BUY KENANGA Price Target News
04/12/2017 2.60 2.91 +0.31 (11.92%) BUY HLG Price Target News
04/12/2017 2.60 3.20 +0.60 (23.08%) BUY AMMB Price Target News
30/11/2017 2.43 2.60 +0.17 (7.00%) HOLD MIDF Price Target News
30/11/2017 2.49 3.10 +0.61 (24.50%) BUY Malacca Securities Price Target News
30/11/2017 2.49 3.15 +0.66 (26.51%) BUY KENANGA Price Target News
30/11/2017 2.49 2.75 +0.26 (10.44%) HOLD HLG Price Target News
30/11/2017 2.49 3.20 +0.71 (28.51%) BUY AMMB Price Target News
17/11/2017 2.46 3.10 +0.64 (26.02%) BUY Malacca Securities Price Target News
02/10/2017 2.56 2.75 +0.19 (7.42%) HOLD HLG Price Target News
25/09/2017 2.59 2.75 +0.16 (6.18%) HOLD HLG Price Target News
25/09/2017 2.59 3.20 +0.61 (23.55%) BUY AMMB Price Target News
28/08/2017 2.76 3.10 +0.34 (12.32%) HOLD MIDF Price Target News
28/08/2017 2.76 2.95 +0.19 (6.88%) HOLD Malacca Securities Price Target News
28/08/2017 2.76 3.15 +0.39 (14.13%) BUY KENANGA Price Target News
28/08/2017 2.76 2.75 -0.01 (0.36%) HOLD HLG Price Target News
28/08/2017 2.76 3.20 +0.44 (15.94%) BUY AMMB Price Target News
25/08/2017 2.80 2.90 +0.10 (3.57%) HOLD MAYBANK Price Target News
25/08/2017 2.80 3.15 +0.35 (12.50%) BUY KENANGA Price Target News
25/08/2017 2.80 2.83 +0.03 (1.07%) HOLD JF APEX Price Target News
25/08/2017 2.80 3.20 +0.40 (14.29%) BUY Affin Hwang Capital Price Target News


Price Target Research Article/News (past 6 months)
12/12/2017  JF APEX OldTown Bhd - A Great Offer
12/12/2017  HLG Oldtown Bhd - Offer to be Privatized
12/12/2017  AMMB OldTown - General takeover offer by JDE
04/12/2017  MIDF Oldtown Berhad - Strategising To Address Challenges Ahead
04/12/2017  KENANGA OldTown Bhd - Still Expanding
04/12/2017  HLG Oldtown Bhd - Greater China FMCG Exports to Spur Growth
04/12/2017  AMMB OldTown - Renewed FMCG thrust to offset weaker margins
30/11/2017  MIDF Oldtown Berhad - 1HFY18 earnings below expectation
30/11/2017  Malacca Securities Oldtown Bhd - Broadly Within Expectations
30/11/2017  KENANGA OldTown Bhd - 1H18 Within Expectations
30/11/2017  HLG Oldtown Bhd - FMCG Growth as Expected
30/11/2017  AMMB OldTown - Resurgent FMCG draws 2QFY18 earnings in line
17/11/2017  Malacca Securities Mplus Market Pulse - 30 Nov 2017
02/10/2017  HLG Oldtown Bhd - Explosion a Minor Incident
25/09/2017  HLG Oldtown Bhd - Explosion a minor incident
25/09/2017  AMMB OldTown - No significant impact from F&B’s central kitchen explosion
28/08/2017  MIDF Oldtown - A Decent Start To FY18
28/08/2017  Malacca Securities Oldtown Bhd - Slightly Underwhelming
28/08/2017  KENANGA OldTown - Perkier Sales Numbers
28/08/2017  HLG Oldtown Bhd (HOLD) - Greater China FMCG Exports Growing
28/08/2017  AMMB OldTown - China export growth intact
25/08/2017  MAYBANK Oldtown - On Track
25/08/2017  KENANGA OldTown - No Surprises in 1Q18
25/08/2017  JF APEX OldTown Bhd - Earnings on Track
25/08/2017  Affin Hwang Capital OldTown - Seesaw quarter with F&B offsetting FMCG



  10 people like this.
 
venton @Dailou123 why call others idiot when they just want to take profit? if you think that 3.10 is too cheap then you have chance to buy it now, you should be happy that they are selling at 3.10!
14/12/2017 10:14
shuyin maybe he bought at 3.25? hence why he's so agitated
14/12/2017 11:03
3iii >>>3iii Top 30 shareholders control 81.07% of shares.

Hope for them not to agree for takeover at this price.
12/12/2017 19:19<<<


The top 28 biggest shareholders control at least 31% of the shares of Oldtown.

Most of them are funds. Obviously, Oldtown has been identified for its good business and growth potential by these funds.

Will these funds be happy to sell their Oldtown shares for 10% premium and forego the big potential of this company growing its business gradually in the next few years, building up its intrinsic value.

Is the price offered substantial enough for them to forego the future potential gains in Oldtown in their investments?


As for the original owners, once they have sold out their shares, where will they be investing this money? Most generally invest in real properties or plantations.

Is it easy to restart a business for the long term? Would it be better to carry on the business and building it up gradually? After all, the business seems to be doing fine, and its cash flows from operations strong and its free cash flows are too.

Maybe get the newcomers to be a joint partner, using their expertise in certain fields.

Look at Jimmy Choo. He sold off his company outright (I think). If only he has maintained some equity or ask for a royalty to his name, he would be a lot better off. He shortchanged himself, but of course, this is hindsight bias.
14/12/2017 13:29
Dailou123 Will old town share price drop below 3?
14/12/2017 16:57
Patrick13 http://www.malaysiastock.biz/Company-Announcement.aspx?id=1021601
14/12/2017 17:54
Patrick13 OldTown entered agreement to open cafe outlet in Cambodia.
14/12/2017 17:54
kentwoon Sell
14/12/2017 19:04
kentwoon Holland
14/12/2017 19:14
lizi oldtown open outlet in wat wat country also not your business, they go holland.
19/12/2017 23:03
Syndicates Any odds that competition commission of Singapore will not allow this takeover?
26/12/2017 13:59
xexlone if i accept the offer, should i fill up any form?
26/12/2017 15:43
Lew Chin Hoong the price is already 3.10 now, wait another few month to get additional 0.08 + 0.04(dividend) is not really realistic. but high possible that oldtown will distribute 80-90% of the net cash to shareholder for the "One Last Time". My suggestion is Sell now, if you have others share that can bring you >5~10% of profile. Else, just wait for privatize saja la.
28/12/2017 14:19
chesslim Oldtown this quarter dividen only 0.03 lah.
29/12/2017 10:38
Patrick13 Yes. My broker also advise to sell now as share price is difficult to breakthrough 3.18. Nobody won't buy this counter beyond this offer price.
29/12/2017 13:04
cckkpr JDE Asia is buying from the market at 3.10 now. I hope that they will not have enough shares to take it private and will have to maintain the listing status. In that case, definitely the share price will go higher than 3.18. Same like Hovid, the offer has become unconditional but to take it private they have to get 90% of all the shareholders who were listed at the date of the offer, which is not easy.
29/12/2017 16:23
dompeilee Poor shareholders...no more AGM ( & free coffee & souvenirs) https://www.youtube.com/watch?v=XGJTAYlm6No
30/12/2017 08:19
ktsk88 JDE offer not only to the Board, it applied to all shareholder's as well and whether they manage to get 3.10 or not is another issue.

Do not think the price can go 3.10......since all the Board Members agreed to let go.

They will not interested in maintaining the listing status as they won't go for all the hassle reporting deadline,protocols, requirements and holding AGM/EGM to seeks shareholders approval.

They only interested in the branding and the markets that OLDTOWN is conquering especially China.

Without listing status, everything can be done swiftly and profits remained back in their coffers rather than sharing with the shareholders.

Even they not getting the require 90% threshold shares, they can dump their holdings below the offer to scare those reluctant to sell at the first place and grab from the open market.

Remember cash is KING and they are the KING at the moment.

Take it at 3.10 or below..............just my opinion as a biz preposition.

Instead of paying 100% for RM3.10, they just push the price down to buy at cheaper valuation...))
30/12/2017 09:53
ktsk88 Small fund or big funds in OLDTOWN only interested in good returns and don't mind taking the 10% premium, further they do not fall in love with stocks. They only interested in making monies and good returns for the funds.

As for the Board Members, they have reaped multiple thousand times returns before the listing of OLDTOWN. They are in listed CHONG NGAI KNITTING COM before selling the same to another acquire pocketing hundred millions.

So this is the 2nd windfalls for the Board through OLDTOWN after successfully developing the brand after so many years of hardworks.

If i am one of them, i would cash out now and enjoys my fruits of labor.
30/12/2017 10:00
ktsk88 Do not forget the Board Members already gained from dividends, bonus shares and the run up of the share price after bonus back to the offer of 3.10.
30/12/2017 10:17
mujihero Rm3.1 is really under value. This is malaysia no 1 FMCG which can easily double the value in 3 to 5 yrs. CHINA mkt alone can provide this company to grow by 20% yoy. Dont understand why the owner want to cash out at this price. So short slighted. Fund mgmt and minority shareholder should block this and keep the company listed
30/12/2017 14:14
mujihero What a waste to sell to the dutch. This is not proton. For sure we dont have the comparative and competitive advantage to compete in the auto industry and we need to sell to the chinese. Coffee business with our own secret formula and hard work and having such a big uptap market in Asia, come on la, chinaman from ipoh, dont be so cheapcake n so lazy and to run away with rm700 or rm800m. Pls make ipoh, ipoh chinaman, malaysian, and this country proud of you and make Malaysia great again. Chinese will call you 汉奸。supported u all these years to drink yr coffee, and invest in yr company. If ever the deal go through, will stop drinking white town old coffee.
30/12/2017 14:34
cyeec2000 Mujihero: major shareholders consisted of 51 percent, its not easy if they all wanna to cash out.
30/12/2017 14:40
mujihero They can cash out, but this is not a great price. Hate to say this, they should get IB to do a beauty parade. I think the chinese buyer from hk or china can pay even better than the dutch
30/12/2017 14:46
mujihero Nevermind la, oldtown white coffee is owned by the dutch? Can now drink chekhup and pwroot
30/12/2017 15:03
Patrick13 Chekhup not my favor. Taste too sweet. Pwroot also so so only.
01/01/2018 08:44
Patrick13 Sold at 3.08. Bye bye OldTown
10/01/2018 09:58
xexlone anyone received any forms for the takeover yet?
15/01/2018 12:15
Brin Toh Not received any yet. Hope they settle it ASAP
16/01/2018 09:01
Dailou123 Can’t hold this stock anymore, going to drop below 3
18/01/2018 20:47
chesslim Waiting take over lah, min rm3.20, before take over hold this counter can enjoy free dividen.
18/01/2018 22:11
xexlone no point sell now, wait for the takeover, some more should buy few more also....so cheap...wonder pple not buy....discounted 3.18-3.05=0.13
19/01/2018 09:44
nanas good earning, eps, per..why sell? insider? is it true?
19/01/2018 11:07
limkokthye keep buying la, because oldtown selling 3 in 1 white coffee to china, huge profits
20/01/2018 22:07
dompeilee Farewell Oldtown...guess your days as a listed company are numbered: https://www.youtube.com/watch?v=XGJTAYlm6No
22/01/2018 09:58
gungho92 Can earn 15 sen if buy now?
23/01/2018 15:38
Lew Chin Hoong The return is 5-6% (assume 2-3% dividend + 4-5% capital gain), if you dont have better stock to invest, can buy and hold for years. but for me, i rather put my money somewhere else.
23/01/2018 22:17
Kvin74 preconditional voluntary offer at 3.04???? how come??
24/01/2018 23:43
Surewind Global coffee maker Jacobs Douwe Egberts BV's (JDE) takeover offer for OldTown Bhd has turned unconditional after receiving valid acceptances totalling 238.32 million shares or a 51.45% stake in the company today.

In a filing with Bursa Malaysia today, CIMB Investment Bank Bhd, which represents Jacobs Douwe Egberts Holdings Asia NL BV — the indirect wholly-owned subsidiary of JDE, said the unconditional offer will be kept open for acceptances for at least 21 days from today.

On Dec 11, 2017, OldTown received a pre-conditional voluntary general offer from JDE in a deal that values OldTown at RM1.47 billion or RM3.18 a share. OldTown's shareholders — Old Town International Sdn Bhd (42.58%), OldTown's management director Lee Siew Heng (1.34%) and Mawer Investment Management Ltd (7.52%) — who collectively hold a stake of 51.45% in the group, had provided irrevocable undertakings to accept the cash offer.

JDE does not intend to maintain OldTown's listing status.

Shares in OldTown closed two sen or 0.66% higher at RM3.05 today, for a market capitalisation of RM1.41 billion. Its share price has risen 7% since its announcement, from RM2.85 on Dec 10.

This means all shares goes at RM3.18?? Anyone know if i queue to sell at 3.18 or i just need to wait for them to offer me?
31/01/2018 08:18
Patrick13 Trading suspended again.
02/02/2018 09:27
xexlone so may uncertain to this pre-con....wait2 until today oso no form send to me....anyone can advise?
02/02/2018 10:28
Lew Chin Hoong the letter will be issue within 21 day after the notice (30Jan2018) http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=84952&name=EA_GA_ATTACHMENTS
02/02/2018 10:38
xexlone thank you!
02/02/2018 10:45
Greenpower so aft the form been signed, when the money base on 3.18 per share will bk in to our account? any dividend will added?
03/02/2018 11:19
thiam1129 Can Oldtown still go above RM3.15?
05/02/2018 16:48
gungho92 Majority have accepted price offer of 3.18 i dun think they will counter offer higher price.
06/02/2018 14:15
chesslim 这几天的股市表现还是 OLDTOWN 最可爱 。
06/02/2018 17:02
Kelvin KY So now what to do yah? When are they going to buy back from us at 3.18?
07/02/2018 21:43
Brin Toh Yea, want to know when they will back back from us too
09/02/2018 16:30
Surewind Almost 40% of my capital in this share, i need it for cny shopping in bursa. Already wait so long, better wait another few more days.
09/02/2018 21:08
changccs87 So long still yet to receive letter from them? Anyone of ur investment bank have receive the letter of offer?
13/02/2018 15:09


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