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Old Chang Kee: Peek-a-boo!

Friday, September 20, 2013

Have you had yours today?

Come, come. Don't be shy.

I think someone just went "bo liao". LOL.

Related post:
Old Chang Kee: Lessons from Mr. Han.

11 comments:

JJ said...

Hi AK....

Me love.... To eat curry puff but this one really disappoint me, don't u think it got so then super... thick skin.

Go try this one at Sq 2, Novena ground floor near entrance, selling chicken rice, other dishes etc... they have a counter selling chicken curry puff, carrot cake, yam cake ...... all at reasonable price. Aiyoh .... this curry puff so very nice.. $1.20 big, spicy curry.. AK go...go... must try ok!

AK71 said...

Hi JJ,

Aiyoh, cannot! How could you even suggest that I try my competitor's curry puff? So salah! :(

I used to go to Square 2 pretty often but since moving back to CCK, no more. I know which shop you are referring to but I think so-so only leh. Actually, it is very personal because too spicy, my stomach cannot take it. -.-"

Steven Yap said...

bo liao... lol...

Musicwhiz said...

These days I avoid OCK and such foods because they are simply too oily. Delicious yes but not very healthy. I stick to salads, soups and sandwiches (my 3-S philosophy) when I lunch near my office haha!

Seriously, one may find it more worthwhile to approach OCK as a potential investment than as a customer. The business does have decent margins, has stores all over the island, a recognizable franchise (for curry puffs), no competitors within the same chain (how many branded curry puff chains do you know of) and has paid very good dividends over the years.

So instead of eating the puffs, perhaps one should consider investing in the Company to receive payments from those consuming the puffs! Haha!

AK71 said...

Hi Steven,

Ah! So, it was you I heard earlier! ;p

AK71 said...

Hi MW,

I remember we had a short discussion here about OCK many moons ago when I first bought its stock. How time flies!

Aiyoh, can you imagine telling Warren Buffett not to drink Coca Cola, not to eat See's candies and not to eat Dairy Queen's ice cream? LOL! I am having my curry puff and eating it too. ;p

Matthew Seah said...

Hi MW,

If everyone thinks like you, OCK will no longer be a worthwhile investment.

And I eat Floss and Smart Alec from BreadTalk =)

Musicwhiz said...

Nah I am coming from a health perspective. Certainly those who don't bother too much about health issues can continue to consume the oily puffs. And there will be people who will continue for sure.

What makes this a potentially good business is its ability to raise prices without affecting demand (volumes) too much. What is the price elasticity of demand for curry puffs? Probably not very high since puffs make up just a small % of everyone's food budget.

However, switching cost is low and availability of substitutes is widespread, so keep an eye out for that when assessing the business. I usually walk pas and count the people queuing up or eating inside. This gives you a gauge of whether a business can survive constant price increases. Will GPM stay around 60+%?

Ok I better stop now, I am getting too deep into the business.

Regards.

AK71 said...

Hi MW,

You have identified one of the beauties of OCK's business. A 10c increase on a $1.10 price tag is an almost 10% increase in price. Businesses (apart from monopolies and oligopolies) which can do this and get away with it are not in the majority. :)

As an aside, someone told me eating bread is unhealthy. Soup, if it is a cream soup, is unhealthy too. Salad, what kind of dressing do you use? It could be that OCK curry puffs are healthier. Can't stop me from trying to market my business. ;p

AhJohn said...

IKEA curry puff is better.
:) I didn't buy OCK, miss the boat

AK71 said...

Hi Ah John,

Yikes! Ang moh curry puff? OMG!

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