Food Empire

[eauyong]

Food Empire buys 40% stake in PT Marindo Makmur Usahjaya
By Jonathan Peeris, Channel NewsAsia | Posted: 09 October 2009 2058 hrs

SINGAPORE : Mainboard-listed Food Empire Holdings on Friday said its wholly-owned unit, Future Enterprises, will buy a 40 per cent stake in PT Marindo Makmur Usahjaya (MMU).

MMU itself is a wholly-owned unit of PT Kelola Mina Laut, Indonesia's largest seafood exporter.

Food Empire will buy 10 million new MMU shares at 10 cents each for about US$1 million in all.

The Group intends to fund the acquisition through internal resources.

MMU will use the proceeds to upgrade its existing frozen seafood production facility to include the ability to manufacture other frozen convenience foods.

Managing Director and Chairman of Food Empire Tan Wang Cheow said the acquisition will allow the group to vertically integrate a key component of its non-beverage business.

He said Food Empire believes strongly in the potential of OrienBites, a range of frozen convenience foods that MMU currently markets and exports to European Union countries. - CNA/ms

[helios]

Yes, there is something gungho abt the mgmt team. Pretty unusual for an accountant-turned-entreprenaur to venture into such non-traditional regions like Turkey, Russia, Poland

Yesterday, i met the youngest brother of the FE family (a NUS business school graduate) ... he was passionate about hungarian wines and intended to help out to raise more awareness of some labels; humble and hands-on guy indeed ... ... he said he was managing Textile businesses ...

[millionairemind]

November 11, 2009, 5.43 pm (Singapore time)

Food Empire's Q3 net profit tumbles 65%

By ANGELA TAN

Food Empire Holdings Limited on Wednesday reported net profit for the third quarter to end September fell 65.4 per cent to US$2.19 million.

Revenue fell 50 per cent to US$30.66 million. The revenue decline reflected the impact of the global economic slowdown in the group's key markets.

Revenue from the Group's key markets have stabilised and shown some signs of improvement. We are cautiously

The group said it was optimistic that revenue should improve during 4Q 2009 as demand for hot beverages traditionally increases during the winter.

However, fluctuations in the exchange rates of the currencies of the Group's key markets could affect its performance, Food Empire warned.

[winston]

Not vested.

DB sold 303,000 shares. Still owned 4.95%

[LenaHuat]

Yes, there is something gungho abt the mgmt team. Pretty unusual for an accountant-turned-entreprenaur to venture into such non-traditional regions like Turkey, Russia, Poland

Yesterday, i met the youngest brother of the FE family (a NUS business school graduate) ... he was passionate about hungarian wines and intended to help out to raise more awareness of some labels; humble and hands-on guy indeed ... ... he said he was managing Textile businesses ...

Juz realised, SanSan that you had directed a post at me That's interesting.
The wine biz is like the luxury goods biz. It's difficult to promote a new mid-priced brand.

[Blackjack]

FE finally showing more convincing turnaround... but looks overvalued still.

Only reason being its low liquidity has shielded its share price I feel.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_5810A4F37EE53C04482576D60032D151/$file/4Q09FEHResults.pdf?openelement

[kennynah]

Juz realised, SanSan that you had directed a post at me That's interesting.
The wine biz is like the luxury goods biz. It's difficult to promote a new mid-priced brand.

i must admit... i dont think i could ever learn or acquire your level of perception....

[Musicwhiz]

The problem with wines is the low barrier of entry and almost no brand loyalty at all. Wines compete almost exclusively on price point alone, and can hardly be expected to target any particular consumer segment or position itself to cater to any particular demographic group. This is the weakness for the wines business - in fact it's a volume game otherwise margins are razor-thin.

[Blackjack]

I thought there's always the "blue chips" of investment grade wines, different vintages, origins, that command higher prices...

[kennynah]

(edited to include this quote...else, blackjack blur)

The problem with wines is the low barrier of entry and almost no brand loyalty at all

cordon bleu......