Viz Branz

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(17-10-2012, 02:07 PM)l0nEr Wrote: Haha Is this like the only food stock that has not rallied with the others like Petra, Super, Yeo hiapseng etc...

Been quite some time, no news of AGM EGM Dividend Earnings...

There is news today Tongue

The Company wishes to inform shareholders that it has applied to the SGX ST for an extension of 2 months, till 31 December 2012, in holding the Company's AGM for FY2012

http://info.sgx.com/webcorannc.nsf/Annou...endocument

Reason:

"The Company's auditors ("Auditors"), are conducting additional audit procedures ("Additional Audit Procedures") on transactions between the Group and the Myanmar distributors, and also seeking clarifications from CKP on the bases underlying his allegations..."
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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Wah just nice when i was wondering why they are taking so long...
hmm seems like we arent going to see dividends any time soon, probably have to wait until after Q1 results

Why does it look as though CKP wants to sue his son ...
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After buying a 20% stake from Ben Chng at $0.735/share recently, yesterday (30Oct12) Lam Soon Cannery P/L / Whang Family began buying more Viz Branz shares from the open-market, and added 225 lots between $0.66/0.67 (the transacted price range yesterday) a share.....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
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(31-10-2012, 07:17 PM)dydx Wrote: After buying a 20% stake from Ben Chng at $0.735/share recently, yesterday (30Oct12) Lam Soon Cannery P/L / Whang Family began buying more Viz Branz shares from the open-market, and added 225 lots between $0.66/0.67 (the transacted price range yesterday) a share.....
http://info.sgx.com/webcorannc.nsf/Annou...endocument

cool. 220,000 shares bought. not a lot though... From 20.001297 % To 20.06467 %
finally some action, at some 10% off the initial price. Wonder if there would be a proxy fight between the Dad and the rest of the new shareholders.
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(31-10-2012, 10:47 PM)l0nEr Wrote:
(31-10-2012, 07:17 PM)dydx Wrote: After buying a 20% stake from Ben Chng at $0.735/share recently, yesterday (30Oct12) Lam Soon Cannery P/L / Whang Family began buying more Viz Branz shares from the open-market, and added 225 lots between $0.66/0.67 (the transacted price range yesterday) a share.....
http://info.sgx.com/webcorannc.nsf/Annou...endocument

cool. finally some action, at some 10% off the initial price. Wonder if there would be a proxy fight between the Dad and the rest of the new shareholders.

Once Lam Soon cross the 30%, the GO price will be at least $0.735 per share...
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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Results are out...
Q1 Results

P&L items
Revenue down 2% (mainly due to weaker sales in SEA and Indochina although China continues to grow)
Gross profit up 17% (due to increase selling price and stable raw materials)
Profit after tax for equity owners up 17%
But due to foreign currency translation, comprehensive income down 18%
Cash flow from operating activities down from 5.1million to 4.1million.

Balance Sheet
Cash abd equivalent up 8million
Total debt slightly lower by 0.2million

Not much of a forecast either...

Still no news when the FY2012 dividends will be issued though... nor any other major announcements.

any comments?
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In 1Q, Viz Branz generated FCF of $5.074m on an aftertax basis, and a portion of this has been added to nett cash reserve. It is also good to see the all-important GP Margin having gone up to 36.7% - a result of increasing selling prices coupled with more favourable input prices. I think it is also worth noting that marketing and distribution expenses had gone up by some $1.0m or 20%, to $5.854m in 1Q - this is a clear indication that Viz Branz is pushing to raise future sales volume and market shares by spending more on A&P and investing in distribution and into new territories.

I suppose the latest the company has to inform shareholders on the delayed Final dividend for FY12 is together with the notice for the AGM, which has to held by 31Dec12.
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Only broker research around...
http://www.ocbcresearch.com/pdf_reports/...15-OIR.pdf


Growth in PRC negated by competition in Myanmar
For 1Q13, VB experienced a 6.8% YoY growth in revenue contribution
from China to S$22.3m following a 5% increase in average selling prices
(ASPs) during the quarter. However, this was negated by a 9.3% YoY
decline in revenue contribution from South East Asia and Indochina –
particularly in Myanmar. In terms of product mix in Myanmar, VB offers
instant coffee, instant cereal and instant tea (with a weighting of 40%,
40% and 20% respectively), and the introduction of foreign competition
has led to a decline in its instant coffee category. Although VB has a 30%
market share in Myanmar (from a combination of its product offerings),
it had to forgo typical ASP increases in an effort to preserve market
share and fend off competitors.

Margin improvements on effective cost control
With the favourable raw material prices, it was not surprising to see
gross profit margin improve by 5.7 ppt to 36.7% from a year ago.
Similarly, the easing of VB’s cost structure and resultant benefits from
economies of scale and scope in its operations has led to a 2.7 ppt
increase in operating profit margin to 15.0% from a year ago.

Signs still point to an eventual GO
Although the market has been disappointed by the lack of progress in
this department, given the fractured relationship between VB's
substantial shareholders, a reduced stake for VB's CEO remains the
clearest indication of an impending deal and of his desire to leave the
business eventually. In addition, in our view, the temporary lull only
represents a transitional platform for Lam Soon before it increases its
stake subsequently. Reasons for a partial stake at the moment are likely
to be intangible in nature.

D. Seize the opportunity; upgrade to BUY
Take advantage of the price correction
VB’s share price corrected about 5.6% following the partial stake
purchase by Lam Soon on market disappointment over the lack of a full
GO. As we deem the possibility of an eventual GO to be high, this
correction has presented a good investment opportunity for investors.
With a supportive base price of S$0.735, which was the purchase price
during the partial share sale, a potential upside of nearly 10% is very
attractive in our view. Even when VB is priced on a fundamental basis,
our fair value estimate comes in at S$0.74. In light of these factors, we
upgrade the counter to BUY.
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This website compiles all TPs of any stocks u want to find.

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(16-11-2012, 08:18 AM)vicom76 Wrote: This website compiles all TPs of any stocks u want to find.

http://sgx.i3investor.com/servlets/ptres/3441.jsp

Thanks. hmmm not really intereted in target prices.. more about their view/opinions. Hoping to see some insights that i didint see...thats why would certainly appreciate your comments too! Smile
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