QAF    Last:0.99    -0.005

QAF

Will this year final dividend be 4c again?
Food business should be good profit as seen in Sheng Siong?

 

Gardenia Bakeries is increasing several product prices starting from 1st December 2020. Below are all the Gardenia products that will have a change in price, so check them out! Products with price increase from 1st December 2020

 

Why dont QAF sell its Rivalea to Temasek who is always putting big money into growing self-sufficiency and sustainability  for Singapore growing apetite.  See how much Temasek invested:

https://www.businesstimes.com.sg/brunch/leaving-a-food-print
Listed on the Singapore Exchange and majority-owned by Temasek, Olam operates in 60 countries across North and South America, Africa, Europe, Australia and Asia and produces nearly 50 crops ranging from cocoa, cashews, almonds, tomatoes, herbs, turmeric to rice, dairy and animal feed.
It boasts a sourcing network of over 4.8 million small-scale farmers - a " big deal" but still only a fraction of the farming community across the world, says Olam' s executive director and chief operating officer, A Shekhar.

https://www.businesstimes.com.sg/garage/temasek-heritas-capital-invest-in-china-agrifood-tech-fund-by-bits-x-bites?fbclid=IwAR3j-yq-hFKcuRs32cG76RRE4qFN43o95d5btrYl3KZjspRUUYfC1d69Djs
With the African swine fever affecting pork production, the Covid-19 pandemic disrupting global supply chains and uncertain trade relations, " nothing else is more urgent in China today than growing self-sufficiency and sustainability in food production" , said Ms Ho, founder and managing director of Bits x Bites.

Temasek should just buy over Rivalea in Australia


 

Apricot      ( Date: 11-Oct-2020 22:53) Posted: Current economic situation, what sort of pricing can Rivalea fetch, better hold on and sell later when economy is booming again. FATABA      ( Date: 24-Aug-2020 11:08) Posted: Since the last plan to listing was shelfed....wonder why QAF dont consider this route ....then outright sell off ?  Pork demand is still expected to be in great demand world wide ?  The proposed listing on the Australian Securities Exchange was to involve an initial public offering (IPO) of shares in QAF&rsquo s wholly-owned subsidiary Hamsdale Australia, to be renamed Rivalea.   &ldquo The board wishes to update shareholders that after discussions between Rivalea and its financial advisor, Morgans Corporate, the proposed listing will be put on hold given, inter alia, current market conditions,&rdquo says QAF in a filing.

 

FATABA      ( Date: 12-Oct-2020 16:18) Posted: haha someone not happy w my posting . FATABA      ( Date: 12-Oct-2020 13:39) Posted: The main catalyst for this counter is there is an offer for its meat plant in australia ,  Awaiting patiently

 

haha someone not happy w my posting .

FATABA      ( Date: 12-Oct-2020 13:39) Posted: The main catalyst for this counter is there is an offer for its meat plant in australia ,  Awaiting patiently  Secret_Squirrel      ( Date: 12-Oct-2020 12:06) Posted: If can hit 93 cents today, then it is already very good.

 

The main catalyst for this counter is there is an offer for its meat plant in australia , 
Awaiting patiently 

Secret_Squirrel      ( Date: 12-Oct-2020 12:06) Posted: If can hit 93 cents today, then it is already very good.  johnng      ( Date: 12-Oct-2020 11:43) Posted: SHOULD BREAKOUT TODAY TO $1...watch it out

 

If can hit 93 cents today, then it is already very good. 

johnng      ( Date: 12-Oct-2020 11:43) Posted: SHOULD BREAKOUT TODAY TO $1...watch it out

 

SHOULD BREAKOUT TODAY TO $1...watch it out

 

35% jump in a mature food market?  Wont be lasting unless they got soem sort of new product that eveybody is queueing for.

Secret_Squirrel      ( Date: 07-Aug-2020 22:59) Posted: The devil is in the details. Pls read the full detail in the manilastandard.net website provided by the company. It says that the bakery production is fully automated. In other words, it will not be affected by COVID-19. It also means less staff needed (less overheads). It also mention the strong demand would extend until year end. What I share here is not exhaustive. Read the news for more details. jpower2015      ( Date: 07-Aug-2020 20:41) Posted: This type of peanut news need halt two days?? Ridiculous Something brewing good still hidden, my 2cents

 

143m (2001) vs 160m ((2020) including shareholder loan).  Too bad we dont knwo how much debt Rivalea is carrying.   

anonymoustrader      ( Date: 30-Aug-2020 00:32) Posted: Got this from the 2001 annual report   On 23 October 2001, a subsidiary company acquired 100% of the issued share capital of Australia based Bunge Meats Group consisting of : &bull Bunge Meat Industries Limited &bull Bunge Feeds Pty Ltd &bull Brooksbank Properties Pty Ltd &bull Bunge Meat Processors Pty Ltd The cost of investment amounted to $143,977,000 and was settled by cash. The Bunge Meats Group collectively contributed revenue of $47,284,170 and profit before taxation of $7,515,051 to the Group from the period 23 October 2001 to 31 December 2001. FATABA      ( Date: 24-Aug-2020 10:26) Posted: Hope so buyers are appearing .....and the negotiation of meat plant in Aus started ....once a known offer is disclosed ....$1 +  is within reach . anyone know the book valuse for it meat plant in Aus ? ( wha is QAF portion )  Dyodd

 

Current economic situation, what sort of pricing can Rivalea fetch, better hold on and sell later when economy is booming again.

FATABA      ( Date: 24-Aug-2020 11:08) Posted: Since the last plan to listing was shelfed....wonder why QAF dont consider this route ....then outright sell off ?  Pork demand is still expected to be in great demand world wide ?  The proposed listing on the Australian Securities Exchange was to involve an initial public offering (IPO) of shares in QAF&rsquo s wholly-owned subsidiary Hamsdale Australia, to be renamed Rivalea.   &ldquo The board wishes to update shareholders that after discussions between Rivalea and its financial advisor, Morgans Corporate, the proposed listing will be put on hold given, inter alia, current market conditions,&rdquo says QAF in a filing.

 

News about QAF is confusing.  Obviously lisiting for rivalea has canned, and now looking to sell.  During Covid where most sales are probably fire-sales basis, yet their bakery operations announce 30% increase in sales.  Whats the hurry to sell Rivalea? Does management know somethign we dont know?

if-only      ( Date: 15-Sep-2020 23:43) Posted: Thanks Starship.  You really do research!.  QAF is my dividend stock, paying a handsome 10 to 15% annually. Just wonder what will happen when they sell off Rivalea, will shareholders be given a bonus from the sales?  But it is still a pity since setting up agricultural farming takes a few years, not to mention  Rivalea already exporting their products. Starship      ( Date: 14-Sep-2020 23:49) Posted: https://www.straitstimes.com/business/work-begins-on-pig-farm-project-in-sino-spore-food-zone

 

Correct me if I'm wrong. EBITDA 36M, assume no change in working capital, capex at 1M, discount rate 10%, terminal rate at 2%, pv of terminal value is 406M? It will require working capital need of 21M to drive valuation down to 162M. Is my computation right?

Joelton      ( Date: 23-Sep-2020 22:16) Posted: QAF lowers FY2020 guidance for Australian meat business, refutes news of sale offers MAINBOARD-LISTED food supplier QAF expects its Australia-based pork production business to fare slightly worse in FY2020 than earlier guided, it said on Tuesday night.   Meanwhile, it has not yet received offers for meat producer Rivalea and the rest of its Australian primary production business as has been reported in the press, the company said, in an update on a sale process launched in August.   Rivalea has projected net revenue of A$395 million, down from a guidance of A$404 million announced on June 30, said QAF' s latest bourse filing. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) could come to A$36 million, excluding fair-value changes on biological assets, against the guidance for A$38 million.   " The updated FY2020 projections are nevertheless higher than the FY2019 net revenues and Ebitda of A$384 million and A$21.1 million," QAF said.   But the projections factor in assumptions about sales volumes, selling prices and feed costs, even as the impact of the Covid-19 pandemic in Australia is evolving, it warned.   " As the Covid-19 pandemic is an unprecedented event and the situation is evolving, the impact cannot be reliably estimated with certainty at this point in time. Losses arising from the pandemic are not covered by insurance policies in Australia," it said.   Primary production is QAF' s second-largest business segment, after the bakery division, which includes bread manufacturer Gardenia Singapore.   The net book value of the pork production assets that QAF plans to sell off came up to some A$160 million, including shareholder loans, but excluding net external debt, based on unaudited management accounts as at Aug 31.   QAF described the sale process for Rivalea as being " in its preliminary stages" , and said that reports in the newspaper The Australian - which claimed that the company had received offers of A$80 million to A$100 million - were incorrect.   Any sale will be subject to conditions including anti-competition clearance and approval under Australian law, as well as shareholders' approval, it added.   It noted: " Shareholders and other investors are advised to refrain from taking any action in respect of their securities in the company, which may be prejudicial to their interests, and to exercise caution when dealing in such securities."

 

 

This one same case as sci smm.
Once qaf cut off the pork business. Market will rerate it again.

 

Found this article when I was searching for an answer to what will happen when Rivalea is sold off.  Hoping for a special dividend !!!  What do you think?

https://www.fool.com/knowledge-center/what-effect-does-a-spinoff-have-on-a-stock-price.aspx
Interesting read:   
When a listed company sells a subsidiary, is that listed company subjected to make any form of compensation or distribution of benefit to its shareholders
Singapore  April 29 2013

A company is a separate legal entity from its shareholders and owns property in its own right. This means that the property of a company is its own and is not held on trust for its shareholders. Hence, when a listed company sells a subsidiary, the sale proceeds it receives form part of the listed company&rsquo s assets. The shareholders of the listed company are not entitled to demand for any form of direct compensation or benefit. The listed company will often have good reasons to apply the sale proceeds for purposes other than distribution to its shareholders and whether distributions should be made to the shareholders out of any such sale proceeds are within the purview of the board of directors.

While it is not compulsory for a listed company to make any form of compensation or distribute any benefit to its shareholders when it sells its subsidiary, the sale of the subsidiary may require the approval of the shareholders. Such approval may be conditional upon or tied to a commitment to make a distribution of the sale proceeds and, if so linked, the company will be required to honour that commitment after the sale proceeds are received.

There are a number of options available to a listed company should it decide to distribute the sale proceeds to its shareholders. These are discussed below. For ease of further discussion, we will assume (as is commonly the case) that the consideration for the sale of its subsidiary is cash.

Distributions out of profits

1. Dividends
   
   Dividends may only be paid out of profits of a company. Such profits need only be available at the time that the dividends are declared and it is not necessary for profits to be available when the dividend is actually paid. However, a shareholder does not have an unconditional right to receive dividends. Assuming that profits are available, the decision as to whether to declare a dividend and the quantum of such dividend is a matter for the board of directors to determine. A shareholder cannot compel a company to declare dividends. How and when dividends are to be declared is a matter left to the articles of association of a company. Typically, the directors will recommend a particular rate of dividend and the company in general meeting will declare the dividend subject to the maximum recommended by the directors. The articles also may vest the power to declare dividends with the directors or provide that dividends will be payable without the necessity of a declaration.
2. Bonus Shares
   
   Dividends may be paid otherwise than in cash and can be in the form of shares. A company that wishes to distribute sale proceeds may thus do so by issuing shares that are fully paid up to the members. A disadvantage of dividends in the form of shares is that shareholders may end up with odd lots, which may be difficult to sell.

Capital Reduction

If a company does not have any accounting profits, any distribution of cash or assets will have to be made pursuant to a capital reduction procedure.

 

Thanks Starship.  You really do research!.  QAF is my dividend stock, paying a handsome 10 to 15% annually.
Just wonder what will happen when they sell off Rivalea, will shareholders be given a bonus from the sales? 
But it is still a pity since setting up agricultural farming takes a few years, not to mention  Rivalea already exporting their products.

Starship      ( Date: 14-Sep-2020 23:49) Posted: https://www.straitstimes.com/business/work-begins-on-pig-farm-project-in-sino-spore-food-zone   if-only      ( Date: 14-Sep-2020 22:37) Posted: https://www.rivalea.com.au/Latest-News 8th September 2020 Tracing its business origins back to 1971, Rivalea Holdings Pty Ltd (Rivalea) is a leading integrated pork business in Australia. Rivalea operates feed mills, pig breeding and grower farms and pork  processing facilities in New South Wales and Victoria. Its products include a range of premium pork products and animal feed under various well-known brands. The owner of Rivalea, QAF Ltd &ndash a company listed on the Singapore Exchange &ndash is pursuing the sale of Rivalea. For more information, please email QAF&rsquo s exclusive financial advisor, Rabobank at &lsquo [email protected]&rsquo Fresh Rivalea pork is exported every week to Singapore and/or Hong Kong and frozen pork is exported to many countries around the world.  What I really hope is that QAF either: * keep Rivalea or  * sell Rivalea to a Singapore company, maybe Temasek? With food scarcity and food security, all the more we have to keep Rivalea where the real source of the product (animals farming) and not just end product are WITH US. If the above is not enough, look at China with their vast lands, agricultural crops, still import from other countries.  View the youtube video: " China on the brink of a major Food shortage! Be ready for Worldwide Starvation" https://miniistid.blogg.no/china-on-the-brink-of-a-major-food-shortage-be-ready-for-worldwide-starvation.html 0 kommentarer Posted on09.09.2020 kl. 00:48 https://youtu.be/adBadeA9YeY At the end of the video (somewhere 15.05) " In conclusion, when we consider that one of the world' s largest food exporter is taking such radical actions to contain the damages of a deeply affected food supply chain, we can expect the countries that import from China to also suffer from colossal disruptions in their food supply chains. Major food shortages are coming in worldwide proportions...." Hoping that QAF will reconsider their selling off of Rivalea

 

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https://www.straitstimes.com/business/work-begins-on-pig-farm-project-in-sino-spore-food-zone

 

if-only      ( Date: 14-Sep-2020 22:37) Posted: https://www.rivalea.com.au/Latest-News 8th September 2020 Tracing its business origins back to 1971, Rivalea Holdings Pty Ltd (Rivalea) is a leading integrated pork business in Australia. Rivalea operates feed mills, pig breeding and grower farms and pork  processing facilities in New South Wales and Victoria. Its products include a range of premium pork products and animal feed under various well-known brands. The owner of Rivalea, QAF Ltd &ndash a company listed on the Singapore Exchange &ndash is pursuing the sale of Rivalea. For more information, please email QAF&rsquo s exclusive financial advisor, Rabobank at &lsquo [email protected]&rsquo Fresh Rivalea pork is exported every week to Singapore and/or Hong Kong and frozen pork is exported to many countries around the world.  What I really hope is that QAF either: * keep Rivalea or  * sell Rivalea to a Singapore company, maybe Temasek? With food scarcity and food security, all the more we have to keep Rivalea where the real source of the product (animals farming) and not just end product are WITH US. If the above is not enough, look at China with their vast lands, agricultural crops, still import from other countries.  View the youtube video: " China on the brink of a major Food shortage! Be ready for Worldwide Starvation" https://miniistid.blogg.no/china-on-the-brink-of-a-major-food-shortage-be-ready-for-worldwide-starvation.html 0 kommentarer Posted on09.09.2020 kl. 00:48 https://youtu.be/adBadeA9YeY At the end of the video (somewhere 15.05) " In conclusion, when we consider that one of the world' s largest food exporter is taking such radical actions to contain the damages of a deeply affected food supply chain, we can expect the countries that import from China to also suffer from colossal disruptions in their food supply chains. Major food shortages are coming in worldwide proportions...." Hoping that QAF will reconsider their selling off of Rivalea

 

https://www.rivalea.com.au/Latest-News
8th September 2020
Tracing its business origins back to 1971, Rivalea Holdings Pty Ltd (Rivalea) is a leading integrated pork business in Australia. Rivalea operates feed mills, pig breeding and grower farms and pork  processing facilities in New South Wales and Victoria. Its products include a range of premium pork products and animal feed under various well-known brands.
The owner of Rivalea, QAF Ltd &ndash a company listed on the Singapore Exchange &ndash is pursuing the sale of Rivalea. For more information, please email QAF&rsquo s exclusive financial advisor, Rabobank at &lsquo [email protected]&rsquo

Fresh Rivalea pork is exported every week to Singapore and/or Hong Kong and frozen pork is exported to many countries around the world. 

What I really hope is that QAF either:
* keep Rivalea or 
* sell Rivalea to a Singapore company, maybe Temasek?
With food scarcity and food security, all the more we have to keep Rivalea where the real source of the product (animals farming) and not just end product are WITH US.

If the above is not enough, look at China with their vast lands, agricultural crops, still import from other countries.  View the youtube video:
" China on the brink of a major Food shortage! Be ready for Worldwide Starvation"
https://miniistid.blogg.no/china-on-the-brink-of-a-major-food-shortage-be-ready-for-worldwide-starvation.html
0 kommentarer
Posted on09.09.2020 kl. 00:48
https://youtu.be/adBadeA9YeY
At the end of the video (somewhere 15.05) " In conclusion, when we consider that one of the world' s largest food exporter is taking such radical actions to contain the damages of a deeply affected food supply chain, we can expect the countries that import from China to also suffer from colossal disruptions in their food supply chains. Major food shortages are coming in worldwide proportions...."

Hoping that QAF will reconsider their selling off of Rivalea