Posted by Flintstones > 2017-05-25 20:24 | Report Abuse

Last week everybody so bullish thinking Oldtown is the next Nestle. After today, Oldtown gonna become London Biscuit???

Posted by moneySIFU > 2017-05-25 21:06 | Report Abuse

The major surprise in the report was the provision for doubtful debts of RM4.76mil.

Even added back the non tax deductible provision, the adjusted profit after tax will be RM14.487mil, still short of last year's quarterly of RM18.358mil

Posted by Patrick13 > 2017-05-25 21:07 | Report Abuse

Yes. Result is poor, but so what? Whole year PAT is better than FY2016 by 14.81% while revenue increased by 8.08% if compared to FY2016. In terms of cost management, Old Town still doing well even excluding forex gain of RM5 million. Do note that Other Asian countries revenue increased from RM73 million in FY2016 to RM108 million in FY2017. I guess due to enter into new market like China, and that's why incurred heavy cost in selling & distribution expenses. But one thing made me surprise is RM4.76 million doubtful debts. Management needs to enhance their credit control management, hopefully.

Posted by Patrick13 > 2017-05-25 21:09 | Report Abuse

Anyway, those disappointed with such results can leave this counter anytime, I still looking forward this counter and happy to get another 4 cent dividend coming soon XD

Posted by Apollo Ang > 2017-05-25 21:10 | Report Abuse

opening sure below 3.00 guarantee

Posted by alex3388 > 2017-05-25 21:12 | Report Abuse

Like dnex profit less but today price still can go UP.... we cannot predict 100% perfect. hoho....

Posted by suregain > 2017-05-25 21:31 | Report Abuse

As I said tis over goreng. Those folow moneysifu go to holand liao

Posted by Apollo Ang > 2017-05-25 21:37 | Report Abuse

agreed goring too much already and yet profit fall, likely be like air asia 2 days down more than 50cts before recover slightly

Posted by ehtan > 2017-05-25 21:41 | Report Abuse

1st of all, need to thanks money sifu for recommend the tmall web. last year still can see oldtown white coffee concur the market but last month I revisit again, paparich overtook oldtown. so I start cautious about oldtown. their sales keep dropping. franchise outlet in local market also taken over by paparich. moral of story is they are not doing well compare with paparich. that y they sell all their treasure shares

Posted by abang_misai > 2017-05-25 21:43 | Report Abuse

I have a lot money on old town today. Tq moneysifu

Posted by Apollo Ang > 2017-05-25 21:47 | Report Abuse

paparich penang tak laku lah, better go kopitiam cheaper and better

Posted by icon1234 > 2017-05-25 21:51 | Report Abuse

Today clear a lot contra player, Don't worry. Tomorrow I will buy more if down.

Posted by ks5S > 2017-05-25 21:51 | Report Abuse

paparich no brand one-lah.
you must be joking that paparich compete with oldtown.

Posted by newbb > 2017-05-25 21:53 | Report Abuse

yaya, you're right.

Posted by cruger12345 > May 9, 2017 10:40 PM | Report Abuse

Selling treasury share in paving the way for bonus issue and share split

Posted by icon1234 > 2017-05-25 21:55 | Report Abuse

QR result so so only but won't effect so much,

Posted by icon1234 > 2017-05-25 21:57 | Report Abuse

Ann joo result super good also drop like no tomorrow.

Posted by Apollo Ang > 2017-05-25 22:02 | Report Abuse

ann joo already up more than 500%.also profit not stable one,sometimes good and suddenly can turn bad one

Posted by gohkimhock > 2017-05-25 22:02 | Report Abuse

Over speculated and failed to deliver the results as expected..

Posted by icon1234 > 2017-05-25 22:02 | Report Abuse

Annual profit still increase 20%

Posted by Apollo Ang > 2017-05-25 22:02 | Report Abuse

tomoro open dare not see ulicorp and old town as top 10 losers

Posted by Star8888 > 2017-05-25 22:18 | Report Abuse

Think positively, Oldtown still earning with profit around 10Mils not loss. I know is reduce profit but if compare to last quarter the main reason of reduce profit is due to "Purchase of trading merchandise, food, beverages and consumables" increase from 3.4Mil last quarter to 22Mil this quarter. If you take this different amount 18.6Mil into profit, then net profit for this quarter is around 28Mil which is better than last quarter 24Mil. This item is key thing that impact Oldtown profit. I believe company spend more this quarter to buy forward material for future. Meaning to say that coming quarter result will be better.
Another thing is try to think Oldtown start enter new market China, prospect and future is very good. Buy and hold for middle to longer term, you will get reward it.
I will buy if there is any weakness tomorrow.

Posted by suregain > 2017-05-25 22:19 | Report Abuse

Share px run ahead of expectations. Gap down

Posted by zexon > 2017-05-25 22:20 | Report Abuse

Harry Teo still holding old town?

Posted by icon1234 > 2017-05-25 22:22 | Report Abuse

Yes, agreed with Star8888.

Posted by eyewitness > 2017-05-25 22:27 | Report Abuse

Now we know the massive surge of white coffee exports from Malaysia to China in Q1/17, as stated by Ministers, is fake news.

Posted by limhh > 2017-05-25 22:28 | Report Abuse

Star8888, I think you completely get the whole thing wrong. You should read this post written earlier. https://klse.i3investor.com/blogs/kianweiaritcles/122747.jsp


Posted by Star8888 > May 25, 2017 10:18 PM | Report Abuse

Think positively, Oldtown still earning with profit around 10Mils not loss. I know is reduce profit but if compare to last quarter the main reason of reduce profit is due to "Purchase of trading merchandise, food, beverages and consumables" increase from 3.4Mil last quarter to 22Mil this quarter. If you take this different amount 18.6Mil into profit, then net profit for this quarter is around 28Mil which is better than last quarter 24Mil. This item is key thing that impact Oldtown profit. I believe company spend more this quarter to buy forward material for future. Meaning to say that coming quarter result will be better.
Another thing is try to think Oldtown start enter new market China, prospect and future is very good. Buy and hold for middle to longer term, you will get reward it.
I will buy if there is any weakness tomorrow.

Posted by Apollo Ang > 2017-05-25 22:31 | Report Abuse

how can think positive? have to be realistic,bad is bad and cannot be deny

Posted by Andry007 > 2017-05-25 22:51 | Report Abuse

drop 8% to 2.7 lol

Posted by Goinvest88 > 2017-05-25 23:14 | Report Abuse

Think positive is good, think positive and realistic are great

Posted by Apollo Ang > 2017-05-25 23:15 | Report Abuse

think positive people in 1997 mostly went broke cos they thought can rebound back.

Posted by nikicheong > 2017-05-25 23:16 | Report Abuse

limhh capex doesn't eat into profit in one go lah. It is depreciated over time. So that's nonsense.

Posted by Goinvest88 > 2017-05-25 23:17 | Report Abuse

Although annual profit increased by 20%, think yourself, how much the share price has been increased Compare with last year?

Posted by ehtan > 2017-05-25 23:26 | Report Abuse

some more dividend less than last year same quarter, 4 Sen against 6Sen. meaning that the management need to sell the treasure share to paid dividend

Posted by Star8888 > 2017-05-25 23:26 | Report Abuse

@limhh, I read the article before. I know this "Purchase of trading merchandise, food, beverages and consumables" figure is fluctuate and unexpected. This figure for this quarter is extremely high compare to other quarter. If we take average among 4 quarters is just 12.23Mil but this quarter is 21.97Mil. If we add in the 9.74Mil(21.97-12.23), the net profit for this quarter should be around 19 to 20Mil. For Q317, if we deduct the 8.84Mil(12.23-3.39), last quarter profit just around 15.5Mil(24.35-8.84).
Mean this quarter result is better than last quarter if we average up this figure for 4 quarters. Hope this explain to you.

"Purchase of trading merchandise, food, beverages and consumables" for different quarter.
Q117 11.67Mil
Q217 11.91Mil
Q317 3.39Mil
Q417 21.97Mil
Average is 12.23Mil


Posted by limhh > May 25, 2017 10:28 PM | Report Abuse

Star8888, I think you completely get the whole thing wrong. You should read this post written earlier. https://klse.i3investor.com/blogs/kianweiaritcles/122747.jsp


Posted by Star8888 > May 25, 2017 10:18 PM | Report Abuse

Think positively, Oldtown still earning with profit around 10Mils not loss. I know is reduce profit but if compare to last quarter the main reason of reduce profit is due to "Purchase of trading merchandise, food, beverages and consumables" increase from 3.4Mil last quarter to 22Mil this quarter. If you take this different amount 18.6Mil into profit, then net profit for this quarter is around 28Mil which is better than last quarter 24Mil. This item is key thing that impact Oldtown profit. I believe company spend more this quarter to buy forward material for future. Meaning to say that coming quarter result will be better.
Another thing is try to think Oldtown start enter new market China, prospect and future is very good. Buy and hold for middle to longer term, you will get reward it.
I will buy if there is any weakness tomorrow.

Posted by ehtan > 2017-05-25 23:29 | Report Abuse

tomorrow a lot Ppls will dump it, want cash don't want shares...

Posted by Ryan88 > 2017-05-25 23:36 | Report Abuse

Lol goreng year 2017 . No logical thinking can apply
Just goreng goreng , see your timing rite or wrong lo

Good result good fundamental can be fall
Bad results, poor company can shoot up
Goreng goreng yr 2017
BN najis trap ppl in stock for GE

Step into stock at your own risk..lol

Posted by gungho92 > 2017-05-25 23:58 | Report Abuse

this is good learning experience :)

Posted by Ggwpbro > 2017-05-26 00:18 | Report Abuse

Tmr pls limit down so I can collect more

Posted by limhh > 2017-05-26 00:21 | Report Abuse

Star8888, that's the point. The price had moved way ahead due to previous result. We can't be double standard. When going up, it is justifable. When earning is bad, we can't nulltified the previous good result to suit current bad result. At some point, things will be corrected eventually.

Posted by newbie92 > 2017-05-26 00:26 | Report Abuse

At least drop RM2.8 tomorrow.

Posted by icon1234 > 2017-05-26 00:29 | Report Abuse

Those Ppls dump it will regret after rebound.....

Posted by icon1234 > 2017-05-26 00:33 | Report Abuse

The Ppls want share price drop because they want to buy cheap.....

Posted by neotang > 2017-05-26 00:36 | Report Abuse

both cafe chain and fmcg segment also down q to q.

Posted by moneySIFU > 2017-05-26 01:02 | Report Abuse

First fact, tomorrow sell down is unavoidable, because the result do not match with what expected by some people, including myself. So, you decide for your money & I take care mine.

There are few points to highlight in the latest quarterly report.
1. Provision for doubtful debts - 4.76mil in cafe chain
2. Growth in China is intact - 18mil vs 28mil
3. Exceptional high purchases - 22mil

http://klse.i3investor.com/files/my/blog/img/bl2510_oldtown_segment.jpg
http://klse.i3investor.com/files/my/blog/img/bl2510_oldtown_pl.jpg

Posted by moneySIFU > 2017-05-26 01:10 | Report Abuse

My Questions are these:
1. Is provision one time or recurring? I don't know, we'll see.

2. Asian F&B sales in 3Q for past 2 years were high due to Singles' Day (光棍节) sales, it is normal to see a drop in subsequent Q. YoY sales have improved.

3. I expected purchase of merchandise & consumables to be ranged 12m-15m, but it registered 22mil. Is this 22mil a new norm or delayed purchases from Q1? I don't know, we'll know next Q.

Posted by moneySIFU > 2017-05-26 01:19 | Report Abuse

We can't change what has already happened, fact is fact, but let do some simple calculation for fun, just click on the link to view it yourself, after all, still not too bad, right?

http://klse.i3investor.com/files/my/blog/img/bl2510_oldtown_what_if.jpg

Posted by moneySIFU > 2017-05-26 01:26 | Report Abuse

The similar situation happened to SSteel in last year August when SSteel released its QR with a shock of 141mil PPE written off, share price drop from 1.02 to 0.91.

https://cdn1.i3investor.com/my/files/dfgs88n/2016/08/22/1484866692-1942499298.pdf
(Page 11)

Posted by moneySIFU > 2017-05-26 01:29 | Report Abuse

The market had responded the disappointment in share price of SSteel, it will happen to Oldtown too, nothing to hide.

Posted by moneySIFU > 2017-05-26 01:34 | Report Abuse

SSteel has delivered good results subsequently because of better industry conditions & selling price of steel products. The share price has gone up from 0.92 (not 0.91) to 1.73 today.

While cafe chain is expected to remain stagnant, F&B is expected to grow due to China market.

Can the point 1 & 3 be overcome in the coming quarters? These will be decisive factors to move the price up or down in the longer term.

--------------------------------------------------------------------------
1. Is provision one time or recurring? I don't know, we'll see.

3. I expected purchase of merchandise & consumables to be ranged 12m-15m, but it registered 22mil. Is this 22mil a new norm or delayed purchases from Q1? I don't know, we'll know next Q.

Posted by moneySIFU > 2017-05-26 02:00 | Report Abuse

OLDTOWN - Surprising Result. But Is The Result that Bad?
https://klse.i3investor.com/blogs/moneymoney/123676.jsp