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KLSE: COCOLND       COCOALAND HOLDINGS BHD
Last Price Avg Target Price   Upside/Downside Price Call
1.81 2.41     +0.60 (33.15%)
* 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
23/05/2019 1.96 2.70 +0.74 (37.76%) BUY RHB-OSK Price Target News
28/02/2019 2.13 2.70 +0.57 (26.76%) BUY RHB-OSK Price Target News
27/02/2019 2.12 2.12 0.00 (0.00%) HOLD WILSON & YORK Price Target News


Price Target Research Article/News (past 6 months)
23/05/2019  RHB-OSK Cocoaland - Solid Gummy Sales; Keep BUY
28/02/2019  RHB-OSK Cocoaland - Well Within Expectations; Still a BUY
27/02/2019  WILSON & YORK Cocoaland Holdings Bhd 4Q FY 2018 Results Report (HOLD)



  anthonylow likes this.
 
Oreo Oreo http://www.klsescreener.com/v2/news/view/317961
12/12/2017 6:49 PM
Oreo Oreo huge relief
12/12/2017 6:49 PM
mf Down
12/12/2017 6:50 PM
Indahnya @matb are you still holding cocoaland?
14/12/2017 9:13 PM
MATB disposed all after QR. I have sold all my Aji Panamy Hlind too. Now empty handed. Waiting for next game.
14/12/2017 9:19 PM
MATB # After end november QR
14/12/2017 9:21 PM
Oreo Oreo Cocoaland Holdings
Buy
Target Price: MYR3.10
Price: MYR2.65
Yummy Gummy Market Cap: MYR606m
Bloomberg Ticker: COLA MK
We initiate coverage on Cocoaland with a BUY recommendation and TP of
MYR3.10 (20% upside including dividend yield). Its range of gummy
products has continued to grow, prompting the group to expand its
production capacity to capture rising demand – this supports its longerterm earnings growth. Backed by a sturdy balance sheet, dividend yield is
forecasted at 3.4-4.2% during FY18F-20F. The stock is trading at a 30%
discount to sector average, which we believe is unjustified given the
encouraging growth of its gummy products and solid fundamentals.
Share Data
Avg Daily Turnover (MYR/USD) 0.22m/0.05m
52-wk Price low/high (MYR) 2.01 - 3.16
Free Float (%) 25
Shares outstanding (m) @MYR1 par 229
Expected Share Price Return 17%
Expected Dividend Return 3%
Expected Total Return 20%
Shareholders (%)
Leverage Success SB 38.0
Fraser & Neave Holdings Bhd 27.2
Share Performance (%)
YTD 1m 3m 6m 12m
Absolute 1.5 (3.3) (3.6) (16.1) 30.5
Relative 1.7 (7.9) (5.4) (17.8) 21.7
Source: Bloomberg
92
111
130
148
1.8
2.3
2.8
3.3
Cocoaland Holdings (COLA MK)
Price Close Relative to FTSE Bursa Malaysia KLCI Index (RHS)
2 2 1 1 1 1 1
Jan-17
Mar-17
May-17
Jul-17
Sep-17
Nov-17
Vol m
Source: Bloomberg
Additional Data
Bursa Code 7205
Listing Market Main
Beta 0.5
3-Month Average Volume (‘000) 87.1
ROA (%) 12
Manufacturer of choice. Cocoaland Holdings (Cocoaland) has close to 40
years of experience in food manufacturing. The group was listed on the Second
Board of Bursa Malaysia in 2005, and has since delivered an uninterrupted
earnings record. Its in-house products have strong brand equity in the domestic
market and are also popular in foreign countries. Besides, the group has
expertise in contract manufacturing, serving several reputable MNC clients.
Gummy spearheading growth. Cocoaland’s revenue has grown at a 5-year
CAGR of 9.4% to MYR272.6m in FY16. We believe the commendable sales
performance was mainly driven by robust demand for its gummy products.
Moving forward, the group is planning to add a new production line to capture
rising demand.
OEM and exports providing additional boost. Original equipment
manufacturer (OEM) or contract manufacturing has contributed significantly to
Cocoaland’s topline, helping to support its production utilisation rate and thus
generating economies of scale. On top of that, the experience in manufacturing
for high-profile customers has enhanced its reputation and track record.
Meanwhile, the diversification into foreign markets bodes well for Cocoaland
given the additional revenue stream and more sizeable growth potential.
Generous dividends backed by sturdy balance sheet. Cocoaland has been
generous in rewarding its shareholders with dividends, thanks to healthy cash
flow generation and minimal capex. It has a sturdy balance sheet with net cash
of MYR78.6m or MYR0.34/share as at end-3Q17. We believe the dividend
payout can be sustained and we are forecasting DPS of MYR0.09, MYR0.10,
and MYR0.11 during FY17-19F, which translate into decent yields of 3.4-4.2%.
Initiate coverage with TP of MYR3.10. Our TP is based on FY18F P/E of 18x,
on par with +1.5SD over its 5-year mean and represents a c.15% discount to
the sector average given Cocoaland’s smaller market capitalisation and profit
base. The stock is currently trading at FY18F P/E of 15.4x or 30% discount to
the sector average, which we believe is unjustified given the encouraging
growth of its key gummy products and solid fundamentals. Risks to our
recommendation include potential M&A acquisitions and sharper-than-expected
rise in input costs.
05/01/2018 2:37 PM
Oreo Oreo from rhb ib
05/01/2018 2:38 PM
smalltimer Habis
12/02/2018 10:15 PM
MATB Huge dividend !!
27/02/2018 6:45 PM
Oreo Oreo 0.13 sen!
27/02/2018 8:47 PM
Oreo Oreo @matb ,do you buy back?
28/02/2018 5:33 PM
MATB Not yet. 100% cash now. My new game will be slightly different from previous game.
01/03/2018 2:00 PM
Oreo Oreo tommorow is the ex date for div
12/03/2018 4:14 PM
Oreo Oreo 13 march
12/03/2018 4:15 PM
Cindy Lee Why no trading today
20/03/2018 10:16 AM
Hafid Heard from my friend mention Sarawak distribution do not want cocoaland product because of more expensive and less profit margin
20/03/2018 8:15 PM
Indahnya oh no...
13/04/2018 7:12 PM
padi23 all share up only this drop..
17/04/2018 6:06 PM
Lawrence Lau U Hao As munchy has been sucessfully acquired, does it mean this stock has higher chance being acquired by Redsena? Hope the acquired price will boost the share up.
19/04/2018 2:31 AM
Lawrence Lau U Hao Pursuant to Paragraph 14.08 of Bursa Malaysia Securities Berhad Main Market Listing Requirements, the Company wishes to announce that Tan Sri Dato' Sri Koh Kin Lip, a Director of the Company, has given notice of his intention to deal in the securities of the Company during the closed period pending announcement of the Company's quarterly financial results for the period ended 31 March 2018, details of his current holdings of securities are as follows:-
24/04/2018 10:38 PM
Oreo Oreo dealing in securities can be either selling or buying ...hmm..
24/04/2018 11:07 PM
Lawrence Lau U Hao big player start entering gogogo
27/04/2018 12:46 PM
Oreo Oreo Lawrence ,press down to collect?
27/04/2018 7:48 PM
luckycharm Yesterday’ bought 2.30... waiting for durian runtuh
25/05/2018 12:36 PM
luckycharm But cocolnd vry strong...
25/05/2018 12:37 PM
Oreo Oreo anyone at AGM?
30/05/2018 11:16 AM
padi68 Oreo u still hold cocolnd?
14/08/2018 7:18 PM
Oreo Oreo yes PADI. but it's been stagnant for some time already.
24/08/2018 5:12 PM
James Ng https://klse.i3investor.com/blogs/general/178993.jsp
[转贴] [COCOALAND HOLDINGS BHD:不断上涨的材料和生产成本以及马来西亚令吉对外币的波动性] - James的股票投资James Share Investing
21/10/2018 6:18 PM
Oreo Oreo waiting for privatisation or taking over ?
28/12/2018 12:24 AM
cyeec2000 The directors haven’t sapu although depressed share price..
28/12/2018 8:16 AM
Hafid Leverage Success Sdn Bhd a company controlled by the company's director which in turns control 38.04% of Cocoaland Berhad and Frazer & Neave Holding Bhd. controls 27.19, this shows that the management holds substantial interest in the company and with F&N as second largest shareholder it will definitely brings strategic synergy to Cocoaland because F&N being in the consumer industry itself will not simply invest its money for the sake of capital appreciation or dividend income.The effect of this synergy can been seen in the development and improvement of Cocoaland's business over the years

Cocoaland Bhd is on its way toward a steady and consistent growth. Cocoland is suitable for investor with a long term horizon (more than 1 year) not for those who seek instant gratification on their stock picks.
24/01/2019 4:02 PM
Hafid There are 2 representatives from F&N participating as board members of
Cocoaland, assisting to lead long term growth and formulate strategic directions of the Company.Cocoaland currently acts as a nonexclusive contract packer for F&N to prepare, package, pack and deliver F&N’s products in Malaysia.
24/01/2019 4:09 PM
cyeec2000 Thanks Hafid..they also disposed the syrup bussiness that which was unprofitable
24/01/2019 4:57 PM
Hafid when is the result announcement
15/02/2019 11:21 AM
uptrending Wow
In May 2015, Navis Asia VII Management Co Ltd
offered to take over Cocoaland for RM378 Million or rm1. 65 per share. It was rejected by Cocoaland.

Then in June 2015, First Pacific Co Ltd (HK-listed) offered to take over for rm494 million or rm2.16 per shares. It later aborted the offer.

Now 2019, what would be the offer price if someone comes along to take over Cocoaland?

RM3. 20?
It is still too cheap, I think. LOL
21/02/2019 10:41 PM
Hafid still cheap
at least 2.80
26/02/2019 9:38 AM
James Yeo Cocoaland Holdings Bhd has a track record of consistent dividend payouts over last 5 years. Check out other 2 similar stocks at https://klse.i3investor.com/blogs/small_cap_asia/195122.jsp
26/02/2019 11:05 AM
uptrending FY19 will see another phase of expansion for Cocoaland. This is for the company's GUMMIES!
Capex committed as reported in this QR is about RM 12.8M, total projected is rm 56.1m. The Capex for the new Gummy line is RM42 M.

The revenue and profit will be elevated to another level. Could expect the share price will move in tandem. Stay invested.

Below are copy and paste from FY17 Annual Report.

"In addition to its expanding higher quality products
in particular to cater for the sales growth in gummies,
Cocoaland expects to commence a new gummy line
project towards the second half of 2018 located in
Rawang with expected capital expenditure projected
at RM42.0 million. Cocoaland is also working
towards to expand its gummy products in terms of
new flavours and healthier ingredients to cater for
demand in both local and overseas markets.
Cocoaland has projected a RM56.1 million capital
expenditure for FY2018 which is mainly for acquisition
of plant and machinery and factory equipment. The
aim is to upgrade and expand its facilities to further
increase production capacity as well as capability
in producing higher quality products to meet the
growing demand towards naturally healthy foods
and beverages. With the rising labour cost and
production overheads, Cocoaland is exploring new
ways to further enhance automation and workforce
development in its operational and manufacturing
processes to improve operational efficiencies. This
in turn helps to reduce the reliance of labour force.
Cocoaland is aiming for increasing cost-saving
measures and higher productivity in FY2018.
There will be about of US$10.0 million or RM39.0
million for use in the event of merger and acquisition
opportunities. The Group is targeting manufacturers
and distributors in Asian countries."

CHEERS!
27/02/2019 6:30 PM
uptrending https://klse.i3investor.com/m/priceTarget/49342.jsp

RHB INVESTMENT BANK RESEARCH MAINTAINED BUY CALL.
TARGET PRICE :2.70
01/03/2019 5:07 PM
Hafid Need to go down before run again. Cost of labour, material
03/03/2019 2:33 PM
YAPSS Day 39 of Fundamental Daily, YAPSS will be covering Cocoaland Holdings Berhad's fundamental via a short animated video. I hope it helps and please enjoy the video, see ya! #YAPSS #FundamentalDaily #CocoalandHoldingsBerhad

Click the on the link to find out more: https://youtu.be/YL15q5EhdkA
11/04/2019 10:15 PM
James Ng https://klse.i3investor.com/blogs/general/207139.jsp
[转贴] [COCOALAND HOLDINGS BHD:自2019年4月1日开始以含饮料包装的形式对含糖饮料制造征收40仙/升的含糖税被视为影响集团饮料业务的另一项发展] - James的股票投资James Share Investing
19/05/2019 11:58 AM
uptrending "1. New Gummy Production Line
As part of plans to expand our gummy
production capacity, the Group is developing
the 2.6-acre Lot 28 as Lots 88 and 100 have
reached an estimated 83.6% capacity for gummy
production.
The addition of another line for gummy
production, expected to be completed in the
first quarter of 2020, is part of our expansion and
growth plans as the Group sees rapid revenue
growth potential for gummy products (in-
house brand as well as for Original Equipment
Manufacturing (“OEM”)"

------ PAGE 19, AR 2018

Expansion on the way for the star products, Gummy lot 100
20/05/2019 9:51 AM
uptrending The NEW Fruit Gummy production line will raise the total production capacity to 14,200 MT from the present 9,200 MT, an increase of 43%. The fruit gummy accounted for approximately 50% revenue of the company and about 50% of which is derived from Export Markets.

Bright future, by just banking on the growing sales and acceptance of the gummy candy which has already established a brand name, LOT 100
20/05/2019 1:25 PM
uptrending Maintain BUY with unchanged TP of MYR2.70. Our TP is derived from an unchanged target 18x P/E (+1.5SD from its 5-year mean), based on 2019F’s earnings. We like Cocoaland given resilient demand for its gummy products, generous dividend payouts backed by a sturdy balance sheet, healthy cash flow generation, and proven track record. Strong brand equity in both the domestic and overseas markets should also ensure sustainability of its future earnings.
Source: RHB Securities Research - 28 February 2019
21/05/2019 6:00 AM
uptrending Still BUY and MYR2.70 TP, 43% expected total returns. Cocoaland’s 1Q19 earnings were within expectations – they were down mainly on higher marketing expenses. Demand for its gummy and hard candy products stayed resilient, though. Cost optimisation initiatives saw some results: lower employee costs. We continue to like the stock, given its sustainable earnings on robust gummy products demand, supported by a proven track record and strong brand equity.
No surprises. Cocoaland’s 1Q19 results were within our and consensus expectations, with earnings of MYR8.4m (-1.8% YoY, -12.6% QoQ) that accounted for 25% and 27% of full-year forecasts. The lower earnings were mainly attributed to higher marketing expenses and decreased other income, netting off increased revenue of MYR65.6m (+1.9% YoY, +7% QoQ). No dividend was declared.
Cost optimisation bearing fruit. The manufacturing segment’s performance improved, reporting 1Q19 PBT of MYR4m (1Q18: MYR83,000 LBT) – thanks to a better product mix and lower employee costs. However, Cocoaland continued to feel the impact of sluggish demand for beverage products, dragging revenue down 9.2% YoY (-0.02% QoQ) to MYR16.9m – this offset growing demand for gummy and hard candy products.
Marketing expenses a drag. The trading unit registered higher revenue of MYR48.7m (+6.3% YoY, +9.7% QoQ), as demand for gummy, snacks, and coco-pie products grew. However, higher marketing expenses from exhibition and promotional activities dragged PBT down to MYR6.5m (-52.7% YoY, +5.3% QoQ). We also note that this unit’s PBT margin dropped 12ppts when compared to 1Q18’s numbers.
Key risks and forecasts. Downside risks to our recommendation and earnings forecasts include sharp rises in raw material costs and weaker consumer sentiment. A strengthening of the MYR against the USD should also negatively affect Cocoaland’s earnings. We make no changes to our forecasts.
We keep our call on the stock, as we expect resilient demand for the company’s gummy products on strong brand equity to continue support earnings. We like Cocoaland for its generous dividend payouts (translating into prospective yields of 5%), backed by a sturdy balance sheet and healthy cash flow generation. There is no change to our TP, with total expected returns of 43% – this based on 2019F earnings of an unchanged 18x target P/E, +1.5SD from its 5-year mean.
Source: RHB Securities Research - 23 May 2019
23/05/2019 4:58 PM
uptrending Anyone attended AGM? Please update us.. Thanks..
29/05/2019 11:11 AM
MATB This stock need huge patience, until it's Lot 100 demand pick up. If not, it's facility expansion is just a facility expansion. Just see how good and how fast management pull up it's Lot 100 revenue ...... On Indonesia side, no any good improvement thus far.
05/06/2019 11:32 AM


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