tag:blogger.com,1999:blog-7944902213075756335.post1502557935179088684..comments2024-03-18T15:38:20.232+08:00Comments on A Singaporean Stocks Investor (ASSI): What is QAF Limited really worth?AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger50125tag:blogger.com,1999:blog-7944902213075756335.post-88457667177292844792018-07-05T23:07:39.433+08:002018-07-05T23:07:39.433+08:00Hi betta man,
Insiders have been buying as share ...Hi betta man,<br /><br />Insiders have been buying as share price drops.<br /><br />With falling EPS, you are right to wonder if DPS of 5c can be sustained.<br /><br />Business cost is rising.<br /><br />QAF is now trading below its NAV and if share price drops more, it could be quite attractive from a value perspective.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-28233755598772429082018-07-04T11:40:44.928+08:002018-07-04T11:40:44.928+08:00QAF price tumbled to 89 cents at point of writing....QAF price tumbled to 89 cents at point of writing. based on 5 cents dividend payout, the dividend yield is 5.6%, which is not bad.<br /><br />But in your opinion, do you think the dividend is sustainable ? I understand that their profits are hit badly recently.Betta manhttps://www.blogger.com/profile/02597553932202096004noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-78090702799869153082017-11-07T11:26:56.681+08:002017-11-07T11:26:56.681+08:00Hi betta man,
Very unfortunate.
Definitely soun...Hi betta man,<br /><br />Very unfortunate. <br /><br />Definitely sounds more negative than positive. <br /><br />I wouldn't be surprised if the share price suffers some downward pressure.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-77414102169246146872017-11-07T11:00:50.061+08:002017-11-07T11:00:50.061+08:00What's your take on this, AK ? I think this wi...What's your take on this, AK ? I think this will negatively affect QAF's share price. <br /><br />-----------------------------------------------------------------------------------<br />Pulled pork as Rivalea calls off IPO <br />The Australian12:00AM November 7, 2017<br /><br />SCOTT MURDOCH <br />JournalistSydney <br />@murdochsj<br /><br />BRIDGET CARTER <br />Mergers & Betta manhttps://www.blogger.com/profile/02597553932202096004noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-20717602381771957152017-09-13T11:20:38.182+08:002017-09-13T11:20:38.182+08:00Hi betta man,
QAF will stand to book a few millio...Hi betta man,<br /><br />QAF will stand to book a few million dollars in profit from the listing. <br /><br />From the lack of a special dividend when they reduced their stake in Gardenia KL, I do not expect a special dividend from this either.<br /><br />Still, a gain is better than a loss. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-66517298665188115882017-09-13T10:49:13.088+08:002017-09-13T10:49:13.088+08:00Unlocking shareholders' value for QAF sharehol...Unlocking shareholders' value for QAF shareholders ?<br /><br />https://www.theedgesingapore.com/qaf-says-keep-controlling-stake-pork-production-business-after-asx-ipo-spinoffBetta manhttps://www.blogger.com/profile/02597553932202096004noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-33348968523002865142017-07-01T13:09:24.703+08:002017-07-01T13:09:24.703+08:00Hi Kevin,
That could certainly happen. That was w...Hi Kevin,<br /><br />That could certainly happen. That was what the Riady family did with Auric Pacific not too long ago. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-44107182012051745422017-07-01T12:55:29.403+08:002017-07-01T12:55:29.403+08:00Hi AK,
Mr Halim will also hope it drops more so t...Hi AK,<br /><br />Mr Halim will also hope it drops more so that it gives him a golden opportunity to thank all investors for their support since IPO and take the next step to turn it private at low valuations like what Li Ka-Shing did to ARA asset management. :PKevinhttps://www.blogger.com/profile/16280702711941276740noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-25823128500743894512017-06-30T12:39:19.108+08:002017-06-30T12:39:19.108+08:00Reader:
QAF share price dropping today !
AK:
I w...Reader:<br />QAF share price dropping today !<br /><br /><br />AK:<br />I wish the price would drop more. ;pAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-62741072917589863302017-06-30T12:27:16.924+08:002017-06-30T12:27:16.924+08:00Hi W Y,
I have absolutely no idea why the stock p...Hi W Y,<br /><br />I have absolutely no idea why the stock price moved the way it did. -.-"AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-38629863691621379982017-06-30T10:27:56.879+08:002017-06-30T10:27:56.879+08:00Hi AK,
QAF is mostly a boring stock, but today it...Hi AK,<br /><br />QAF is mostly a boring stock, but today it has dropped by at least 3%, any reason for the drop and what is your comment? ThanksDhttps://www.blogger.com/profile/04229536400730775598noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-88041041903634347732017-06-22T22:58:47.478+08:002017-06-22T22:58:47.478+08:00QAF has a respectable return on equity (ROE). In 2...QAF has a respectable return on equity (ROE). In 2016, the company generated a ROE of around 13% (after adjusting for one-off gains), while carrying more cash than debt on its balance sheet.<br /><br />It may not be an apples-to-apples comparison, but food & beverage retailer BreadTalk Group Limited (SGX: 5DA) and beverage manufacturer Yeo Hiap Seng Ltd (SGX: Y03) both had ROEs of less than AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-6127564884414272322017-05-25T17:03:55.016+08:002017-05-25T17:03:55.016+08:00Hi JB,
I invest for income. So, my preference is ...Hi JB,<br /><br />I invest for income. So, my preference is for cash.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-81390803133491141592017-05-25T16:36:13.746+08:002017-05-25T16:36:13.746+08:00Hi AK,
Will you be taking the shares vs cash for ...Hi AK,<br /><br />Will you be taking the shares vs cash for the dividend? Can talk to yourself?<br /><br />Thank you. :)<br /><br />JBJBhttps://www.blogger.com/profile/10596567999974326212noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-4802771014359518662017-05-02T13:17:10.295+08:002017-05-02T13:17:10.295+08:00Buying more bread today ?
Who is joining me in the...Buying more bread today ?<br />Who is joining me in the queue 1.30James Tanhttps://www.blogger.com/profile/02412114038632379155noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-28212946968733765822017-03-01T13:48:20.205+08:002017-03-01T13:48:20.205+08:00Hi K,
I like to hear from the horse's mouth. ...Hi K,<br /><br />I like to hear from the horse's mouth. So, for QAF, I looked at their latest financial report. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-84244439670321832592017-03-01T13:34:42.255+08:002017-03-01T13:34:42.255+08:00Hi AK,
What website do you usually use to pull ou...Hi AK,<br /><br />What website do you usually use to pull out your numbers like EPS? I look at the SGX website and it looks different.<br /><br />Thanks.Khttps://www.blogger.com/profile/01096331252046081022noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-62685389637147745712017-02-28T22:01:14.609+08:002017-02-28T22:01:14.609+08:00Hi jojo,
We can be conservative and assume that, ...Hi jojo,<br /><br />We can be conservative and assume that, yes. :)<br /><br />I will blog about fair values for QAF Limited given different assumptions soon. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-41409999377321927822017-02-28T20:05:56.790+08:002017-02-28T20:05:56.790+08:00Hi AK, QAF 4Q16 Dec2016 quarterly commentary expla...Hi AK, QAF 4Q16 Dec2016 quarterly commentary explained the -11% dip in Revenue (from $998mil in 2015 to $889mil in 2016) as attributable to deconsolidation of financial results of GBKL from that of the Group’s, due to the 20% sale of its shareholdings in GBKL. <br />Can I regard 2016 Revenue of $889mil as the new norm for Revenue going forward?<br />This assumes all other things (including anonhttps://www.blogger.com/profile/14933269878913721933noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-24093945048020882822017-02-28T12:35:51.639+08:002017-02-28T12:35:51.639+08:00Jerry Lee:
AK, do you think the sale of their sta...Jerry Lee: <br />AK, do you think the sale of their stake in GBKL (malaysia subsidiary) needs to be considered in the valuation for the stock? (i.e other than deducting an 1-time off gain - should an investor also consider its lower earnings in the near future? (Not sure if I am correct with this assumption. Hope to hear you talk to yourself!) "For the financial year ended 2014, GBKL AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-66572336124940433612017-02-28T07:59:27.956+08:002017-02-28T07:59:27.956+08:00Hi Unknown,
Congratulations :)Hi Unknown,<br /><br />Congratulations :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-27024899206299679632017-02-28T01:17:45.731+08:002017-02-28T01:17:45.731+08:00You all seen to be looking at the bakery, too gree...You all seen to be looking at the bakery, too greedy of bread, but is QAF all bread? Sold 1.55 when all point to overbought. Sold APPL too. Good luck to all, Unknownhttps://www.blogger.com/profile/03697748904859515763noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-65905472316201180622017-02-27T23:18:44.433+08:002017-02-27T23:18:44.433+08:00A refresher from 2015.
In 2014, when QAF Limited&...A refresher from 2015.<br /><br />In 2014, when QAF Limited's stock was trading at 93c a share, I observed that the PE ratio was 16.6x.<br /><br />In 2015, QAF Limited's stock closed at $1.14 a share and based on an EPS of 8.2c, we are looking at a PE ratio of some 14x. Even if we remove the one off divestment gain by Oxdale Dairy, we would be looking at a PE ratio of 14.5x, thereabouts.<AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-56272032790039050362017-02-27T23:10:08.924+08:002017-02-27T23:10:08.924+08:00Hi Keng,
I think it is no secret that I still lik...Hi Keng,<br /><br />I think it is no secret that I still like QAF more than BreadTalk. <br /><br />QAF has been paying a meaningful dividend yearly (DPS 4c to 5c). Payout ratio is about 50%. QAF also has a strong balance sheet and is in a net cash position.<br /><br />My investment in QAF is probably 6x or 7x bigger than my investment in BreadTalk.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-77728541224567005392017-02-27T23:05:29.303+08:002017-02-27T23:05:29.303+08:00Hi Kevin,
At $1.03, I believe that was at a PE ra...Hi Kevin,<br /><br />At $1.03, I believe that was at a PE ratio of about 11x back then. Currently, at $1.41, QAF is trading at 12.9x PE ratio. I feel that it is inexpensive but definitely not as cheap as 11x. ;)<br /><br />Mr. Market could experience another bout of anxiety and we could have a chance to buy at 11x PE ratio again in future. This is a definite possibility. Closer to $1.20 a share AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.com