FARM FRESH BERHAD

KLSE (MYR): FFB (5306)

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Last Price

1.82

Today's Change

+0.02 (1.11%)

Day's Change

1.80 - 1.83

Trading Volume

2,357,900

IPO Info
Offer Period

Opening

2022-02-28

Closing

2022-02-28

Time Table

Allotment Date

2022-03-18

Listing Date

2022-03-22

Price

Issue Price

1.35

Units

1,857,954,837

Share Capital

388,768,641.000

No of Shares

Public Issue

222,954,700

Offer for Sale

520,227,200

Private Placement

687,443,200

Issuing House

TIIH - 716

ISIN Code

123

Prospectus:

INITIAL PUBLIC OFFERING ("IPO") OF UP TO 743,181,900 ORDINARY SHARES ("IPO SHARES") IN FARM FRESH BERHAD ("FARM FRESH") IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE ENLARGED ISSUED SHARE CAPITAL OF FARM FRESH ("SHARES") ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING AN OFFER FOR SALE OF UP TO 520,227,200 EXISTING SHARES ("OFFER SHARES") AND A PUBLIC ISSUE OF 222,954,700 NEW SHARES ("ISSUE SHARES") INVOLVING: (I) INSTITUTIONAL OFFERING OF UP TO 687,443,200 IPO SHARES TO MALAYSIAN AND FOREIGN INSTITUTIONAL AND SELECTED INVESTORS, INCLUDING BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY, MALAYSIA AT THE INSTITUTIONAL PRICE TO BE DETERMINED BY WAY OF BOOKBUILDING ("INSTITUTIONAL PRICE"); AND (II) RETAIL OFFERING OF 55,738,700 ISSUE SHARES TO THE DIRECTORS OF FARM FRESH AND ITS SUBSIDIARIES ("GROUP"), ELIGIBLE EMPLOYEES OF THE GROUP, PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF THE GROUP AND THE MALAYSIAN PUBLIC AT THE RETAIL PRICE OF RM1.35 PER ISSUE SHARE ("RETAIL PRICE"), PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO REFUND OF THE DIFFERENCE BETWEEN THE RETAIL PRICE AND THE FINAL RETAIL PRICE (AS DEFINED IN THIS PROSPECTUS) IN THE EVENT THAT THE FINAL RETAIL PRICE IS LESS THAN THE RETAIL PRICE, SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS AND THE OVER-ALLOTMENT OPTION (AS DEFINED IN THIS PROSPECTUS), THE FINAL RETAIL PRICE WILL BE EQUAL TO THE LOWER OF: (A) THE RETAIL PRICE OF RM1.35 PER ISSUE SHARE; OR (B) THE INSTITUTIONAL PRICE.

Farm Fresh - Prospectus (Part 1).pdf

Farm Fresh - Prospectus (Part 2).pdf

Farm Fresh - Prospectus (Part 3).pdf

Detailed Procedures for Application and Acceptance.pdf

Discussions
6 people like this. Showing 50 of 1,286 comments

Kevin Tam

When will this overpriced Farm Fresh drop back to Rm1. 00.....One of the most expensive consumer stock in South East Asia..

2024-07-30 20:23

MRX425

Jump in now

2024-08-05 15:58

DouglasLiu

It's still not as cheap as you'd hope. Ha

2024-08-05 16:56

TheVenturer

hard to find cheap now....

2024-08-08 16:07

DouglasLiu

I think it will keep consolidating at RM1.52 for now

2024-08-12 15:33

TG13688

keep collecting..

2024-08-13 15:10

DouglasLiu

Looks like I was wrong. It moves up gradually instead 🤗

2024-08-16 15:59

Travisbravis

Next stop 2.00

2024-08-21 16:34

DouglasLiu

With EPF’s continued buying, FFB will surely reach RM2 in a day

2024-08-26 19:36

Ravi Kumar

Walau fantastic QR

2024-08-28 12:47

XiongDaDa

Worth to put it for long-term. After 2 years, it will be RM4. haha

2024-09-02 17:54

keonkx

Agree, this stock need patience

2024-09-02 18:05

x_abe81

RM2 by year end. RM4 by 2026. 🤞🤞🤞😆

2024-09-02 18:39

supermanhitam

so lucky today can buy in at 1.68 , tqsm

2024-09-03 10:18

supermanhitam

this week will up to 2.00

2024-09-03 10:18

supermanhitam

so a lucky day

2024-09-03 11:14

Gudetamasan

good one here

2024-09-03 11:16

supermanhitam

all in for 1.68 today , tq

2024-09-03 15:23

DouglasLiu

No wonder it goes up today, supermanhitam 😃

2024-09-04 15:16

ThunderZX

2.00 ?

2024-09-05 17:02

XiongDaDa

Surely can hit 2.00, but not in this month

2024-09-05 20:36

DouglasLiu

You followed KWAP & EPF selling, supermanhitam ?

2024-09-11 14:24

supermanhitam

DouglasLiu
YOU SEE AS I SAID

2024-09-19 11:16

supermanhitam

XiongDaDa
SURE WILL GO TO

2024-09-19 11:17

keonkx

Up up up again this is gooood

2 months ago

DouglasLiu

supermanhitam
WHAT DID YOU SAY?

2 months ago

UnicornP

Wait 1.1-1.2m volume per day.

2 months ago

DouglasLiu

If can maintain that much trading volume, RM2 this month is not a dream.

2 months ago

UnicornP

Just bought 1.81

2 months ago

keonkx

nice up up up

2 months ago

DouglasLiu

Oh... Some funds start disposing 😗

1 month ago

MRX425

slowing down alrdy

1 month ago

DouglasLiu

Q2 results were leaked to big funds ?

1 month ago

XiongDaDa

dnt worry, FFB still moved up regardless

1 month ago

DouglasLiu

Farm Fresh Bhd’s growth prospects remain robust, underpinned by its increasing market presence.

Also working in the company’s favour are easing raw material prices and favourable foreign-exchange (forex) rates, which contribute to stronger profitability and operational resilience.

RHB Research has reiterated its “buy” recommendation for Farm Fresh, raising its target price to RM2.11 per share from RM1.88 previously.

This followed the brokerage’s upward revision of its earnings forecasts for Farm Fresh by 5% each for financial year ending March 31, 2026 (FY26), and FY27 to account for revised in-house forex assumptions and higher minimum wage.

“We believe Farm Fresh will continue to leverage on its established brand equity to penetrate more markets, thereby fuelling the relentless top-line growth.

“Meanwhile, easing raw material prices and favourable forex will translate to more margin expansion,” RHB Research wrote in its report yesterday.

“Our positive stance is premised on the visible and long runway for growth, more consistent earnings delivery, and management’s ambitious vision, which should warrant a valuation premium,” it added.

Farm Fresh recently launched its in-house consumer-packaged goods (CPG) ice cream brand – Cream Hauz.

RHB Research pointed out that its ground checks suggest the initial reception had been positive.

“With more products in the pipeline, the group aims to capture a 5% share in CPG ice cream market worth more than RM1.2bil by 2025.

“Its strategy to diversify offerings in the dairy product market (by leveraging on its brand equity and healthier option value) could bear significant fruit once again,” the brokerage explained.

Concurrently, Farm Fresh is also eyeing a share in the lucrative chocolate malt beverage market worth RM1bil.

It launched a powder variant in July and has plans to roll out ready-to-drink products in 2025, RHB Research noted.

Additionally, it plans to sustain its hotel, restaurant and café/catering (Horeca) segment’s strong sales growth by offering new butter products.

Outside Malaysia, Farm Fresh recently commenced production in the Philippines after establishing a presence and brand- building via imports earlier.

RHB Research said with Farm Fresh’s gross profit margin staying above 30% in the last three quarters, there could be more upside for the company, going forward.

“This is as the lower-priced whole milk powder and raw milk are reflected in subsequent quarters,” it said.

Farm Fresh’s earnings jumped four-fold to RM26mil in the first quarter ended June 30, 2024, from RM6.4mil in the corresponding quarter last year.

Its earnings per share increased to 1.39 sen from 0.34 sen previously.

The increase in earnings was mainly attributable to higher revenue and lower raw material prices.

During the quarter under review, the group’s revenue rose 30.3% year-on-year to RM241.7mil on sales contribution from new products, higher sales from the Horeca distribution channel, as well as full-quarter contribution from The Inside Scoop Sdn Bhd and Sin Wah Ice Cream Sdn Bhd.

1 month ago

keonkx

Today closed at 52-week high -RM1.87. Gogo Farm Fresh!

1 month ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

Farm Fresh
Market cap 3.5B Earnings 83.15M PE 42.12

Dutch Lady
Market cap 1.94B Earnings 88.32M PE 21.97

1 month ago

Integrity. Intelligent. Industrious. 3iii (iiinvestsmart)$€£¥

Assuming the PE for this sector is 20.
The market is pricing Farm Fresh at a hefty price, in anticipation of future growth.
On the other hand, which has the better reward : risk profile today, as an investment?

All investing is always value investing. :-)

1 month ago

XiongDaDa

In order to push it to RM2, it requires EPF to buy instead of selling ...

1 month ago

DouglasLiu

Retailers power is strong also. ha

1 month ago

Cakes Moon

Why suddenly drop?

1 month ago

XiongDaDa

Local and foreign fund are selling ..

1 month ago

Bursino

their fresh milk is so DILUTE i had stopped buying!

3 weeks ago

Noni

Milk is ok, not too thick

3 weeks ago

keonkx

Why milk need to be thick? You can buy yogurt if you prefer thicker milk

3 weeks ago

XiongDaDa

Buy full-cream milk instead of low-fat milk

2 weeks ago

duitsonang17

FGV calls off shareholders’ agreement to develop RM4.5 bil dairy farm business in Perlis=> less competition for FFB

1 week ago

XiongDaDa

Ya, good. They should focus on their main business

1 week ago

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