Highlights
KLSE: KAWAN (7216)       KAWAN FOOD BHD MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
0.985   +0.05 (5.35%)  0.975 - 1.00  134,100
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  2 people like this.
 
value88 Kawan's earnings is lower YoY but higher QoQ in Q2.
From the quarterly report, i can see several positive signs as follows :
i) The revenue achieved in this quarter is the record highest since listing.
ii) The gross profit margin has improved QoQ.
iii) Management is positive on the growing sales demand in domestic and export market, especially China.
iv) Kawan won the Product Innovation 2019 Award.

I can see Kawan's performance should get better in quarters to come. It just need time to generate higher sales revenue and achieve higher capacity utilisation in order to offset the higher depreciation and higher operating cost from new plant.
I am almost certain that next quarter's earnings will see further improvement QoQ.
27/08/2019 11:09 PM
RainT bad result

profit drop

but sales still up oh
28/08/2019 10:26 AM
RainT KAWAN case is similar with SCGM

also new plant then high depreciation costs and low utilization

the costs of new plant need more time to ramp up sales
28/08/2019 10:27 AM
RainT won Product Innovation Award

will not make the share price go up

KAWAN, please show your profit up non stop
28/08/2019 10:28 AM
RainT due to low profit

PE now up to 24

high PE
28/08/2019 10:29 AM
RainT Read the KAWAN prospect in qtr report seem like not bad like that oh
28/08/2019 10:32 AM
loonginv Yes, prospect not bad, waiting it drop further to 1.1
28/08/2019 10:40 AM
value88 For a company with new plant/capacity, it is important to see if its sales revenue has been increasing. If yes, this means the additional capacity is gradually taken up, and soon or later, the earning performance will improve when utilisation rate is high enough to offset the higher depreciation and operating cost resulted from the new plant.
We can see the above is happening to Kawan as it achieved the record highest revenue since listing. This substantiates the new capacity expansion is serving its purpose.

The opposite example is TomyPak. After its new plant commenced operation, its sales revenue is even lower than before installing the new capacity. We should ask a question why then TomyPak wanted to do expansion then if it doesn't help to sell more products but the opposite.
28/08/2019 4:43 PM
CyrusQ Hey guys is BKAWAN AND KAWAN Same ?
06/09/2019 2:36 PM
TrueInvestor90 no. different
08/09/2019 9:40 AM
RainT bkawan is do plantation one la

kawan is food processing

name same only but not relate
09/09/2019 10:45 PM
RainT on uptrend?
18/09/2019 9:04 AM
heehaa911 another Holland con counter
18/09/2019 1:59 PM
RainT @heehaa911

why con counter?

recent drop is due to low profit as the expansion have delay & problems

KAWAN biz is defensive, food industry

and they are coming out with new bread products soon
19/09/2019 9:45 AM
RainT WAH
30/09/2019 7:15 PM
Fabien "The Efficient Capital Allocater" 200mil revenue company. sales growing every year interrupted. china sales growing double digit.

business is resilient

ample of production capacity to absorb growing demand. sales in expansionary mode

profit margin temporarily squeezed due to high depreciation charges.

intensify cost optimisation and automation to mitigate potential escalating cost and further enhance profit margin

new products to meet growing demands

moving forward, capex is reducing. more free cash flows to support dividend payment. recent quarter positive FCF
01/10/2019 1:55 PM
RainT not only recent qtr , i see the past few quarters also positive free cash flows
08/10/2019 11:08 AM
monkeyinvestor buybuybuy
21/10/2019 2:55 PM
witan Up 10% this afternoon, insiders starting to accumulate. Any good news?
21/10/2019 3:43 PM
Fabien "The Efficient Capital Allocater" From CIMB estimates

FCF
2018: 9.18m
2019: 0.16m
2021: 26.74m
2022: 31.90m

massive FCF growth in 2021 onwards. forward P/FCF is below 15x.
21/10/2019 9:14 PM
witan Fabien "The Efficient Capital Allocater" Thanks for the info. Mind sharing the article where you get the above figure from?
22/10/2019 10:14 AM
Tete7893 1.1-1.15 only collect
22/10/2019 7:14 PM
28/10/2019 7:20 AM
Fabien "The Efficient Capital Allocater" No one interested in Kawan? It's creeping up nicely
30/10/2019 5:25 PM
amitabha Technical very strong... Future prospect is catching up, more room to fly...
31/10/2019 6:43 AM
thesteward Looking goood this month sould hit at least 1.70 ?
03/11/2019 1:23 PM
bose00 steady!
04/11/2019 11:12 AM
bose00 Accumulated more shares of Kawan
05/11/2019 10:22 AM
RainT only good if manage to grab some at rock bottom
10/11/2019 9:46 PM
Fabien "The Efficient Capital Allocater" if u have a longer term view, this stock is worth at least RM2

At current price, you have above 30% margin of safety
13/11/2019 3:17 PM
14/11/2019 9:49 AM
bose00 Results are improving.. if next quarter shows the same sign . most investor will rush in to buy. Better collect now then later..
14/11/2019 9:53 AM
theavenger it is coming ...good result
14/11/2019 11:58 AM
theavenger first tp 1.62
14/11/2019 3:33 PM
14/11/2019 3:35 PM
factslim1 We had earlier forecast a 30% revenue growth for Kawan Food Bhd for the financial year ending 2019 (FY19), mainly driven by the launch of new major bread products in the first half of 2019, a strong US dollar against the ringgit, and an organic growth in export markets
14/11/2019 3:53 PM
TrueInvestor90 where you read that factslim1?
14/11/2019 3:56 PM
theavenger good result announcement soon ..stay tune
14/11/2019 4:25 PM
bose00 Day by day price up. Break 1.60.. will see a clear sky
15/11/2019 12:28 PM
Fabien "The Efficient Capital Allocater" took some profit at 1.65

cheers!
26/11/2019 4:23 PM
RainT profit drop

capacity over than demand

high depreciation due to expansion

next qtr will be good ? lets see
27/11/2019 9:39 AM
shpg22 Believe the new factory utilisation rate is still low. It will pick up as revenue is still keep on growing. Once utilisation rate exceed its depreciation rate, its when magic happens.
27/11/2019 2:10 PM
Fabien "The Efficient Capital Allocater" i still believe earnings recovery are imminent

i have sold mine at 1.65 yesterday

will look to re-enter again
27/11/2019 2:12 PM
shpg22 I ll only concern if the revenue stagnant or drop. As long as revenue keep growing, profit growth is imminent.
27/11/2019 3:21 PM
Think May need to wait for a few quarters to see the recovery. Need to factor in opportunity cost if were to enter this counter.
Heavily impacted by hike in labor cost and operating expenses. Hope to see more automation to bring down the operating cost.
27/11/2019 11:38 PM
ubaL taM Kawan_sye_tak?
05/02/2020 2:40 AM
RainT not so fast KAWAN will recover
21/03/2020 6:51 PM
Fabien "The Efficient Capital Allocater" bought back Kawan at 0.975

earnings should remain resilient
27/03/2020 10:13 PM
mf US consumer sentiment falls to lowest level in more than 3 years
27/03/2020 10:19 PM
joey don't worry
frozen food is the choice for people to stock up
good demand coming up
28/03/2020 12:20 AM


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