Category: F&N

Sell @ $2.94

A spectacular recovery from $2.70, before + after they announced their renewal + extension of licensing agreement with Nestle for milk products recently. Finally hit profit zone for my lowest priced buy. Change of heart, very likely will be switching out of F&N if prices continue to strengthen before it xd on 3-Feb (Tue)…. but, also gives me an option to buy back if it hits $2.92 or lower… 😀

Sell @ $2.71

Decided to contra off as my free cash level is getting low again… With market so volatile (one day big drop followed by 2 days of recovery), I intend to stick to my strategy of short term profit taking, whenever possible… 😀

Buy @ $2.65

The moment I put into the Buy Q (1st in Q), it got done! Must be programmed buying… which went on  for a while… but ran out of steam towards 5pm and closed @ $2.69… 😀

Sell @ $2.71, $2.70

Contra off my 2 recent buys…. good profits too tempting to resist… especially in a volatle mkt going thro' wild swings… Better for me to make sure I have sufficient free cash as there'll likely be ample new opportunities… left my old ~$3 ones… 😀

Buy @ $2.62, $2.59

STI -79, many shares got cheaper…. Average down further… 😀

Buy @ $2.70, $2.68, $2.66

Prices are 10% lower than 2 weeks ago, before I went for a break! Checked SGX and no new announcements… Must be the Myanmar Beer issue plus regional weakness (especially Malaysia) due to the huge drop in oil price… Nvm… buy more to average down… Note that PE = 26.6 is still high… 😀

Buy @ $2.92

Add to my collection… Myanmar Brewery is the cause of price decline… Quite scary to read analysts' reports… valuations by SOP (Sum of Parts) not good.. aro' current price but based on a very high valuation for Myanmar Brewery..:D

Buy @ $2.95

Add to my foothold… 😀

Buy @ $2.97, $2.95

The drop started yesterday, after they announced the results of Myanmar Brewery arbitration. Will have to sell to Myanmar partner but prices will be based on a better valuation (> US$246m or ~S$313m => 21.7ct/share). Myanmar was driving the bulk of the growth for F&N due to the rapidly growing market in Myanmar and their dominant position. It'd be hard to replace… perhaps, a JV with ThaiBev for Chang Beer? Will take a long time…. but not impossible… 😀

There'll still be growth from other Beverages (soft drinks) as they're no longer constrained by Coca Cola (after giving up the franchise), Dairy Products and perhaps acquisitions… The much anticipated leverage on ThaiBev doesn't appeared to have taken off … altho' ThaiBev just did another announcement… their 2020 plans… 

 

Sell @ $3.03, $3.04

A good price jump at open with continued buying interest, hitting an intrday high and closing at $3.09. Perhaps, Fung Choi being halted before mkt opened + the previous article in the news of F&N in plans to dispose of their substantial stake contributed to the demand…. But, F&N had issued a clarification yesterday and had not been halted with Fung Choi… something else brewing??

Anyway, sold my entire stake as I couldn't control my temptation to profit take, plus I happen to need Free Cash now for other alternatives… 😀