latest announcement today, will be transfer to main market on 29 march, 2 market days from today

nestle isnt a bad stock or company, its a good stock but okay company, there isnt really much growth in nestle, and the CEO is a finance guy, finance guys usually dun expand the business more than they control cost. Theres also the public sentiment towards nestle and boikot etc, farm fresh has more growth potential but it comes with higher valuation, whether its too exp or fairly priced, u make the decision yourself

thats why need shareholder approveal ? cos exceeded dividend payout policy

most counters went down today, this 1 of the few that went up

i think FFB showed its resilience in these 2 days when 50% of counters are in the red

qs, how does bank issue call warrant to bet against a stock ? and how does it play out? as for me i dun like property and constructions stocks, too project relaint, no MOAT, big capex, hard to predict profitibility as too many factors like work delays or rise in material cost, its almost similar to Oil and gas but at least i can watch oil prices to give me an indication

@multiever, thanks, i didnt knw that nestle didnt wan to get listed, but im sure those investing in it are very grateful

When i say FFB become like nestle, what i mean is in terms of MOAT, nestle is so resillient and it has a very strong brand that they also have pricing power

1. Big NOSH = low liquidity = stable share price, i totally agree, but with higher NOSH, and higher liquidity, it actually benefits retailers like myself as i can take advantage of shareprice weakness to accumulate, and no longer need to pay 12k plus for 100 lots of nestle shares, and i would say the shareprice is more efficient if its more liquid as theres more volume which helps the share price reflects itrs true value, whereas if its illiquid, few big shots can easily pump the share price, out of reach of retailers
2.in this context, what u perceived to be strengths ie 'controlled by foreign mother company', might turn out to be problemetic down the road, esp with all the boycott going on in msia, FFB benefits as 100% msian owned company, and rainforrect capital and farm choice food is both owned by mr Loi Tuan ee and his family, so skin in game, his interest are aligned with shareholders

Value is subjective, whats exp to you is fairly price to others, none of us can predict the future, but IF FFB becomes Msian nestle 10 years later, does it matter what price u bought at today ? but again its is a big IF

As for the debt, the nature of fresh milk business is capex intensive, what more upstream F&B thats expanding and acquiring subsidiaries, either management raise money from debt or private placement, i think as shareholder we prefer the former over the latter, but if u look at latest QR, they are shifting the debt to long term ie non current, and into sukuk specifically, which i speculate that managements thinks it is more advantagous, but management did say no plans to raise any more debt barring unforseen circumstances. Now just need to wait and see if they can deliver

I also have value investing mindset, but i tweak it to suit my own style, remember warren buffet started with fair companies at a cheap price but after meeting charlie munger (RIP King), he switched to investing in wonderful companies at a fair price. Whether u are overpaying it depends on ur own valuation calculation, and always do a forward PE calculation then add a margin of safety, current PE is based on past results, thing is almost all great companies arent cheap, most arent even fairly priced. In the stock market, u have to be able to think independently, to filter out all the noise and naysayers, make ur own decision based on ur analysis and have conviction in it. Thats the whole point of stock picking, is to outperform the market returns, but if u follow what market does, how to expect above market returns ?

if a stock that has good fundementals suddenly price drop without bad news, its a good buy no matter the price, u need to get rid of the mentality of wanting to buy at lowest price and sell at highest price, its impossible, also get rid of the mentality of wanting to buy at a fixed price ie 50 sen or RM 1, cos thats what everyone is thinking and you'll see price correction or rebound at whole prices ie 1.5, 2.5 etc, its all human psychology, it plays a big part in stock market. Personally i dun try to catch it at the bottom, i wait for it to rebound upwards before buying, i bought at 1.04 which is pretty good consider i had to dump maybank shares at market price to buy it, and u go in in batches, just in case the rebound is a dead cat bounce, ie if it falls further after going up, u still got bullets to accumulate

their moat for fresh milk business is high barrier of entry and cost advantages, upstream fresh milk business is no easy manner, the cows get sick, u need feed stock, if price increase, it eats ur margin, u need good land for farms etc, based on interview with Mr Looi, the impression i got was the early days of raising cows were a nightmare, hence i dun think its so easy for FGV and F&N to just go upstream and expect success overnight, even if they got money to burn. unlike gloves, its not so easy to just jump into the business. 1 of the issues the MD pointed out was the lack of vetenarians, u need a team of smart and dedicated vetenarians to take care of ur cows, and msia is lacking such talent, so i dun expect FFB moat in upstream to get eroded so easilty anytime soon

Yes ctos and IHH both have high PE cos funds are propping up the price but ask urself if any of these companies have growth potential? Compared to say farm fresh, but it's not that easy cos PE ratio is just a number and it's like comparing apples to oranges, it's better to look at it's peers, but I prefer to use earnings and ocf yield over PE ratio

FFB is expensive, laggin PE ratio of over 60 but its not just its exp, move on, more important question is does it justify the expensive valuation?
MULTIEVER is right, fundemental analysis is important, but remember current PE ratio is based on past fundementals, when u buy a stock, ur profit is in the future earnings of the company, past performance is important but it doesnt always corelate to future performance, if u consider farm fresh earnings growth from CPG, thanks to both inside scoop and sim wah, its forward PE is ard 40-45 for FY2024-25, based on current market cap, its earnings yield is 1.85% and ocf yield is ard 4%, which isnt very high consider FD can give u 4%, but i think FFB forward PE of 40-45 is justified, for a few reasons
1. it has a strong brand - its the market leader in chilled fresh milk category and its 100% owned by msian, unlike DLADY and F&N, if theres another boycott of foreign brands, FFB might stand to benefit from it
2. pricing advantage - FFB has better pricing for its chilled category, and with good margin to boot, so they'll win a price war, this is due to them invested in upstream, so much so that F&N is going up stream. They claim they can do 10k L per milk cycle, but FFB MD say they themselves cant even manage 3k L per milk cycle, so i dunno how they can achieve it, and also FFB has access to top holstein genebank, and their hybrid friesian sahiwal cow is both heat resistant and still can produce a lot of milk. As for DLADY, i suspect the recent price rally is due to milk powder price coming down hence thier profits increasing, but if china economy ever recovers, expect milk powder price to go up again, which will hurt DLADY more than FFB.
3. diversification of revenue stream - they are venturing into CPG, starting with ice cream, they'll have 3 categories, <RM6 which will be branded as simwah potong ice cream, RM 6-12 which will be branded farm fresh and >RM 12 which will carry be inside scoop brand, expect the products to hit stores in june as they start production, CPG ice cream is dominated by 2 brands, nestle and walls by unilever, both of which FFB will look to steal market share from, which is good news consider its a local brand, they are also looking into butter but more interesting is they are entering the children milk powder category which is a cash cow business, and i personally do believe as a medical doctor, Mr Looi's view on infant milk powder that it shouldnt have too many added things that we cant pronounce, and i can see children obesity rates are increasing, even those on formula milk

At the end of the day, valuation is subjective, whats cheap or reasonable to you, is exp to others, but do note, recently KWAP emerged as substantial shareholder, maybe they knw something we dont ? or a sign of whats to come?

MKH and johor plantation both have over a billion ringgit in debt while this company is nett cash, i dunno why the price havent move yet

looking at fund flow, someone is disposing a lot of shares, not sure if major shareholder again, but so far no news abt anything, so likely its profit taking

Share price likely bearish in short term, but prospects still good and transer to main market is progressing well, they are nett cash position and little debt

Late QR? hopefully a surprise good result, the ceo is optimistic about the company, but as they have foreign cilents, profits made in FX should increase as MYR is depreciating

I rarely comment, but have to give thanks for calvin for posting abt jtiasa on inno forum last year, caught my attention and i did my own research and bought last year, up 72% as of closing price today, this stock with YTLP (up 130%) gave my portfolio ard 18% return in 11 months, ps i novice investor, only started since last year april but grateful for projected ard 20% return in 1st year

Guess opening price tmr? I'll go first 1.25

Why QR not out yet, hope its within or above expectation if not the share price gonna plunge

last minute dump by institution

The cash reserve is going down, also notice after flipping back all 4 qr for 2023 that they are net - ve OCF this year, last year was +ve ocf, might Wana proceed with caution

It used to be 2nd smallest, but since affin bank in the news, esp with sarawak acquisition, the share price has rallied, when i started investing in bursa last year, i wanted exposure to banking sector, so i chose 1 big bank and 1 small bank, for big bank i chose public as it is a safe option with very good ROE but valuation is higher but still reasonable, for small bank, it was between affin and ABMB, for me ABMB is the obvious choice, cos AFFIN prev majority shareholder is LTAT, they have 4 main ventures, AFFIN, BPLANT, PHARMA and BHIC, the latter 2 is PN17, 1 needed bailout from gov, the other has monopoly on medicine supply to KKM but still cant be profitable #onlyinmsia, 1 ady sold to LTAT after some issues with KLK, so LTAT dont have the best track record, ABMB undemanding valuation, good dividend yield of ~6%, focus on future SME and green financing, and decent management was the choice for me. The thing about MY banks is they are very safe, therefore cant expect too much growth, but still decent returns, i believe once the hype with affin is over, funds might turn their attention to ABMB, provided they can show good results

sometimes market not logical as BA is a FPSO provider and mainly earns from charter rates which is negotiated and usually quite stable, oil prices shouldnt really affect BA profitability esp short term, hibiscus is more tied to oil price than FPSO like BA or yinson

Higher crude oil prices might be good for this stock but its bad for inflation which central banks have been trying to bring down by raising interest rates, as well as bad for malaysia, cos of subsidised petrol, so higher crude oil prices might lead to inflation increasing which means interest rate staying higher for longer, hope the red sea incident gets resolved, either way investing in O&G is a good hedge against inflation

Company has 10% market cap in cash, current liabilities <cash in hand, non current liabilities of only 8.8 mil, earnings was flattish but mainly due to listing expenses,
PE ratio was a bit high but down to 40 ard the same as vitrox, market isn't logical most of the time, just sad no bullet to avrg down

increase in milk price soon? as raw materials cost keep increasing, that why top line up but bottom line didnt grow, at least they didnt lose money on forex now compared to last quarter

4 possible scenarios
1. MBMR sells P2 stake to UMW/SIME - unlikely, as past attempts has failed, but i doubt MBMR would sell its golden rice bowl no matter the price
2. MBMR bought out by UMW/SIME, taken private - just like what happened to UMW, more likely than 1 but theres no single majority shareholder in MBMR, unless they can come to an agreement
3. stalemate - nothing happens, most likely outcome based on past experience
4. some sort of JV/ agreement to list P2 - i think most people think this is the goal of simedarby as of now, might fall through but will need the consent of the japanese as they hold a significant shares in P2 ~32%

what will actually happen? i dunno, just my 2 cents

another subdivion of share today, to pay management, why would they do that ?