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QAF

Good points ....but u must also note that the $$ from the sale of primary department are also put back into a new line ( if I recall ) and expansion into 
its bread business .    Not much full detail on this except about those expansion . 
ANYONE ...can advise when is the 2c dividend payout for the primary department sale ????    ( the amount was confirmed but NO date on the actual 
distribution of this 2c ) ....thanks 
 

PandaB      ( Date: 12-Aug-2021 12:55) Posted: This half year' s result seems to indicate that there are some headwinds ahead. Last year was clearly a banner year for QAF' s bakery department, an exception rather than the norm. Looking ahead, the margins from the bakery segment has already fallen from 20% to 14%. Besides, flour prices have also been steadily increasing.  The irony of the situation for QAF is that the primary production department which they were so keen to dispose off is the majority contributor for the EPS this half year. So if you strip away that result (and future EPS from the ppd) and the eventual sales proceed, 5c annual dividend may actually be a challenge to maintain in the future.

 

This half year' s result seems to indicate that there are some headwinds ahead. Last year was clearly a banner year for QAF' s bakery department, an exception rather than the norm. Looking ahead, the margins from the bakery segment has already fallen from 20% to 14%. Besides, flour prices have also been steadily increasing. 

The irony of the situation for QAF is that the primary production department which they were so keen to dispose off is the majority contributor for the EPS this half year. So if you strip away that result (and future EPS from the ppd) and the eventual sales proceed, 5c annual dividend may actually be a challenge to maintain in the future. 


 

 

Who has been selling down this stock these few days?
With a constant 5c annual dividend, this is even better than CPF !!!!!

 

From SGX annoucement of 6th Aug 2021 :

Dividends (a) Current financial period reported on Name of dividend Interim Dividend type Cash Dividend rate $0.01 per ordinary share Tax rate Exempt 1 tier
(b) Previous corresponding period Name of dividend Interim Dividend type Cash Dividend rate $0.01 per ordinary share Tax rate Exempt 1 tier
(c) Date payable To be announced later
(d) Book closing date To be announced later 
 

FATABA      ( Date: 10-Aug-2021 16:44) Posted: Last financial result was in it if not wrong . Wonder when is there AGM to confirm this ....so tgt w 1H dividend of 1c, its a 3c total still :)  Dyodd CheeryVGoh      ( Date: 10-Aug-2021 16:15) Posted: The Edge article mentioned intention to pay special div of $0.02. No mention of payment date

 

Last financial result was in it if not wrong .
Wonder when is there AGM to confirm this ....so tgt w 1H dividend of 1c, its a 3c total still :) 
Dyodd

CheeryVGoh      ( Date: 10-Aug-2021 16:15) Posted: The Edge article mentioned intention to pay special div of $0.02. No mention of payment date. FATABA      ( Date: 10-Aug-2021 15:47) Posted: When is the payout for the 2c special dividend ??  ( for sale of its meat plant in Australia )  Dont recall any payout date announcement ?  ANyone ?  Thanks

 

The Edge article mentioned intention to pay special div of $0.02. No mention of payment date.

FATABA      ( Date: 10-Aug-2021 15:47) Posted: When is the payout for the 2c special dividend ??  ( for sale of its meat plant in Australia )  Dont recall any payout date announcement ?  ANyone ?  Thanks

 

When is the payout for the 2c special dividend ??  ( for sale of its meat plant in Australia ) 
Dont recall any payout date announcement ? 
ANyone ? 
Thanks 

 

Yes , 1c dividend is standard for 1H many years w 4c standard fully year. 
As this counter is not very liquid ...easy for shortist act ....but ...dont get caught .
QAF should be on go growth path w growing consumer demand on food n affordability 
Dyodd

Starship      ( Date: 10-Aug-2021 09:20) Posted: Someone evil is selling down QAF again today !!!!!

 

Someone evil is selling down QAF again today !!!!! 

 

I recall reading the confirmation but the actual payout n approval etc .....so maybe in Q4 . 
2c is confirm if I am not wrong. Dyodd

Cherryredbibi      ( Date: 29-Jul-2021 16:06) Posted: Do we know if the special div is approved? I don?t see any announcement of when it will be paid out . Doesn?t look like this year

 

Do we know if the special div is approved? I don?t see any announcement of when it will be paid out . Doesn?t look like this year

 

Already old news. Some more already factor in proposed special dividend 2 cents since prior news was $0.95 to $0.96. Sounds fishy....lol.

FATABA      ( Date: 22-Jul-2021 15:16) Posted: Could be the coming 2c special dividend .....when is this out n distributed .LOL  Dyodd crystalbee      ( Date: 22-Jul-2021 15:14) Posted: I don' t think I heard any news about QAF this week. Why the chiong yesterday? How come this market maker managed to cause share price hike for no reason? Is it same person buying and selling

 

Could be the coming 2c special dividend .....when is this out n distributed .LOL 
Dyodd

crystalbee      ( Date: 22-Jul-2021 15:14) Posted: I don' t think I heard any news about QAF this week. Why the chiong yesterday? How come this market maker managed to cause share price hike for no reason? Is it same person buying and selling? Starship      ( Date: 22-Jul-2021 14:17) Posted: Evil black hand managed to crash QAF today with just a meagre 100k shares changing hands and with no news abt the company!!!!

 

I don' t think I heard any news about QAF this week. Why the chiong yesterday? How come this market maker managed to cause share price hike for no reason? Is it same person buying and selling?

Starship      ( Date: 22-Jul-2021 14:17) Posted: Evil black hand managed to crash QAF today with just a meagre 100k shares changing hands and with no news abt the company!!!!

 

Evil black hand managed to crash QAF today with just a meagre 100k shares changing hands and with no news abt the company!!!!

 

capital if not use is of no use . 
QAF is certainly having great plan in concentrating n growing its bread business . 
Phillipine plant n even its tie up in Msia seem promising .  W growing ASEAN population n growth , the bread demand is certainly rising. 
Further,  SH are reward well w QAF dividend for years. 
Dyodd 
Happy investing

Apricot      ( Date: 24-Jun-2021 16:45) Posted: QAF paid around 150m, 20 years ago?  I doubt Hamsdale has paid any dividends all these while.  But at least they recoup the layout. anonymoustrader      ( Date: 09-Jun-2021 17:42) Posted: Seems like market dont like the selling pric

 

QAF paid around 150m, 20 years ago?  I doubt Hamsdale has paid any dividends all these while.  But at least they recoup the layout.

anonymoustrader      ( Date: 09-Jun-2021 17:42) Posted: Seems like market dont like the selling price FATABA      ( Date: 09-Jun-2021 15:39) Posted: The board of directors (the " Board" ) of QAF Limited (&ldquo QAF&rdquo or the " Company" , and together with its subsidiaries, &ldquo QAF Group&rdquo or the " Group" ) wishes to announce that the Group has on 8 June 2021 entered into a sale and purchase agreement (&ldquo SPA&rdquo ) to dispose of its Primary Production business in Australia (the " Proposed Disposal" ), pursuant to a competitive sale process. The Primary Production business is classified as a disposal group held for sale in the financial statements of QAF Group for FY2020 and no longer falls within the description of an existing core business. The Group&rsquo s wholly-owned subsidiaries, Hamsdale International Pte Ltd and Oxdale Investments Pte Ltd (the " Vendors" ), have agreed to sell the entire issued share capital of Rivalea Holdings Pty Ltd (" Rivalea Holdings" ) and Oxdale Dairy Enterprise Pty Ltd (" Oxdale" ) (collectively, the " Sale Shares" ) to Industry Park Pty Ltd (the " Purchaser" ), subject to the terms and conditions of the SPA. The indicative aggregate purchase price for the Sale Shares is to be satisfied entirely in cash and, as at the date hereof, is estimated at approximately A$107.9 million (equivalent to approximately S$110.3 million) (the " Indicative Purchase Price" )1 . Shareholder loans extended by the QAF Group to the Primary Production business (amounting to approximately A$40.0 million (equivalent to approximately S$40.9 million)) will be fully repaid on completion of the sale. Together with the Indicative Purchase Price, QAF Group will, subject to and on completion, receive estimated total cash of A$148.1 million (equivalent to approximately S$151.3 million). Please see Section 4.2 below for further information. Rivalea Holdings owns two subsidiaries incorporated in Australia, namely, Rivalea (Australia) Pty Ltd (held as to 100%) and Diamond Valley Pork Pty Ltd (held as to 80%) (together with Rivalea Holdings and Oxdale, the " Target Group" and each, a " Target Group Company" ). QAF total dividend for this year is 7c....which is 7% yield for 2021......wow not bad at all .  Looking forward to their new plant in Phillipine .

 

https://www.qaf.com.sg/wp-content/uploads/2020/07/General-Announcement__Gardenia-Bakeries-K.L.-Sdn-Bhd.pdf

Starship      ( Date: 20-Jun-2021 22:17) Posted: https://links.sgx.com/FileOpen/QAF%20announcement_Licence%20and%20other%20renewals_GBKL_final.ashx?App=Announcement& FileID=624366   Starship      ( Date: 07-Jun-2021 14:53) Posted: Following negotiations, the Company and GBKL have agreed to renew the existing 5-year Licensing Agreement relating to, inter alia, the grant by the Company to GBKL of the right to use &ldquo Gardenia&rdquo trademarks in West Malaysia on bread and other bakery products manufactured by GBKL, which was due to expire on 31 March 2021, for a 7-year period from 1 April 2021 to 31 March 2028. The licensing fee for the renewed term will remain unchanged at 1.5% of the gross sales of each approved bakery, and the existing cap of maximum gross sales of RM800 million for each financial year  shall cease to apply. The gross sales of the approved bakeries for FY2019 amounted to approximately RM1.03 billion. Based on the existing licensing fee applicable which includes the Gross Sales Cap, the licensing fee for FY2019 was RM12 million (approximately S$4 million). Assuming the Renewed Licence Fee had been applicable at the beginning of FY2019, the licensing fee for FY2019 would have amounted to RM15.5 million (approximately S$5.1 million). With the removal of the Gross Sales Cap, the contribution from GBKL would be lowered, arising from the higher licensing fees required to be paid by GBKL to the Company. The net financial effects on EPS and NTA for the current financial year are not expected to be material. Nothing herein is indicative of the actual financial effects of the revised arrangement on the Group or of the future actual financial performance of the Group. In line with the above extension of the Licensing Agreement, the shareholders&rsquo agreement between the QAF Group and its joint venture partner has been varied to provide for an extension of the date by which the parties are to work towards a listing for GBKL, namely, by March 2028, instead of the original date in April 2026. In this connection, the revised shareholders&rsquo agreement provides, inter alia, that if such listing cannot be achieved by March 2028 by reason of any shareholder not providing the requisite co-operation, the non-defaulting shareholder may purchase the other shareholder&rsquo s shares in GBKL at the fair value of such shares. In the event such sale and purchase is not completed under certain circumstance(s), GBKL shall be wound-up.  By Order of the Board Serene Yeo Company Secretary 21 July 202

 

https://links.sgx.com/FileOpen/QAF%20announcement_Licence%20and%20other%20renewals_GBKL_final.ashx?App=Announcement& FileID=624366

 

Starship      ( Date: 07-Jun-2021 14:53) Posted: Following negotiations, the Company and GBKL have agreed to renew the existing 5-year Licensing Agreement relating to, inter alia, the grant by the Company to GBKL of the right to use &ldquo Gardenia&rdquo trademarks in West Malaysia on bread and other bakery products manufactured by GBKL, which was due to expire on 31 March 2021, for a 7-year period from 1 April 2021 to 31 March 2028. The licensing fee for the renewed term will remain unchanged at 1.5% of the gross sales of each approved bakery, and the existing cap of maximum gross sales of RM800 million for each financial year  shall cease to apply. The gross sales of the approved bakeries for FY2019 amounted to approximately RM1.03 billion. Based on the existing licensing fee applicable which includes the Gross Sales Cap, the licensing fee for FY2019 was RM12 million (approximately S$4 million). Assuming the Renewed Licence Fee had been applicable at the beginning of FY2019, the licensing fee for FY2019 would have amounted to RM15.5 million (approximately S$5.1 million). With the removal of the Gross Sales Cap, the contribution from GBKL would be lowered, arising from the higher licensing fees required to be paid by GBKL to the Company. The net financial effects on EPS and NTA for the current financial year are not expected to be material. Nothing herein is indicative of the actual financial effects of the revised arrangement on the Group or of the future actual financial performance of the Group. In line with the above extension of the Licensing Agreement, the shareholders&rsquo agreement between the QAF Group and its joint venture partner has been varied to provide for an extension of the date by which the parties are to work towards a listing for GBKL, namely, by March 2028, instead of the original date in April 2026. In this connection, the revised shareholders&rsquo agreement provides, inter alia, that if such listing cannot be achieved by March 2028 by reason of any shareholder not providing the requisite co-operation, the non-defaulting shareholder may purchase the other shareholder&rsquo s shares in GBKL at the fair value of such shares. In the event such sale and purchase is not completed under certain circumstance(s), GBKL shall be wound-up.  By Order of the Board Serene Yeo Company Secretary 21 July 2020 Apricot      ( Date: 07-Jun-2021 12:10) Posted: Looks like QAF has done well here, no cap on royalties, extension 2 more years before listing i.e. 7 years and options to buy each other out in case of........ I wonder why would bernas give such a consession?

 

Seems like market dont like the selling price

FATABA      ( Date: 09-Jun-2021 15:39) Posted: The board of directors (the " Board" ) of QAF Limited (&ldquo QAF&rdquo or the " Company" , and together with its subsidiaries, &ldquo QAF Group&rdquo or the " Group" ) wishes to announce that the Group has on 8 June 2021 entered into a sale and purchase agreement (&ldquo SPA&rdquo ) to dispose of its Primary Production business in Australia (the " Proposed Disposal" ), pursuant to a competitive sale process. The Primary Production business is classified as a disposal group held for sale in the financial statements of QAF Group for FY2020 and no longer falls within the description of an existing core business. The Group&rsquo s wholly-owned subsidiaries, Hamsdale International Pte Ltd and Oxdale Investments Pte Ltd (the " Vendors" ), have agreed to sell the entire issued share capital of Rivalea Holdings Pty Ltd (" Rivalea Holdings" ) and Oxdale Dairy Enterprise Pty Ltd (" Oxdale" ) (collectively, the " Sale Shares" ) to Industry Park Pty Ltd (the " Purchaser" ), subject to the terms and conditions of the SPA. The indicative aggregate purchase price for the Sale Shares is to be satisfied entirely in cash and, as at the date hereof, is estimated at approximately A$107.9 million (equivalent to approximately S$110.3 million) (the " Indicative Purchase Price" )1 . Shareholder loans extended by the QAF Group to the Primary Production business (amounting to approximately A$40.0 million (equivalent to approximately S$40.9 million)) will be fully repaid on completion of the sale. Together with the Indicative Purchase Price, QAF Group will, subject to and on completion, receive estimated total cash of A$148.1 million (equivalent to approximately S$151.3 million). Please see Section 4.2 below for further information. Rivalea Holdings owns two subsidiaries incorporated in Australia, namely, Rivalea (Australia) Pty Ltd (held as to 100%) and Diamond Valley Pork Pty Ltd (held as to 80%) (together with Rivalea Holdings and Oxdale, the " Target Group" and each, a " Target Group Company" ). QAF total dividend for this year is 7c....which is 7% yield for 2021......wow not bad at all .  Looking forward to their new plant in Phillipine .