ShareJunction - Member Posts

x 0

DMG& Partner Securities

The news: Consciencefood reported a 40% rise in 2011 PATMI to Rp130.7b on the back of a 22% rise in revenue to Rp742.8b. Revenue rose on the back of an increase in sales volume as well as ASPs of their instant noodles. Other income increased by 66% to Rp1.2b due to higher sale for scrap materials. Administrative expenses decreased by 14% to Rp22.bn mainly due to IPO expenses incurred in 2010. Our thoughts: FY11 revenue of Rp742.8b was in-line with our expectations. Earnings however were ahead of estimates by 17% at Rp130.7b, largely due to higher gross margins of 29% vs our forecast of 26% and lower operating costs which led to net margins of 18% vs our forecast 15%. The Group announced that it has finalized the purchase of its beverage production machieneries for S$11m, which would be delivered by 1H2012 and set to commence production in 2H2012. We are reviewing our estimates.

x 0

Consciencefood: Acquisition Of Assets In Jakarta.

30 Dec 2011 09:46

Consciencefood Holding Limited is pleased to announce that the Company, through its subsidiary, PT Olagafood Industri Makanan Dan Minuman has on 29 December 2011, entered into a sale and purchase agreement with PT. Olagafood Sukses Mandiri to acquire a piece of land located in Jakarta, Indonesia with a factory equipped with machineries for the production of instant noodles for a consideration of Rp69,000 million or approximately S$10 million. PT OSM was previously wholly owned by the Company's Chairman and Chief Executive Officer, Mr Djoesianto Law and his spouse, Mrs Law, who collectively disposed their entire shareholding in PT OSM on 26 December 2007...

PROCUREMENT OF BEVERAGE PRODUCTION MACHINERIES
Further to the announcement of the Company dated 14 January 2011, the Board of Directors of the
Company is pleased to announce that the Company has finalised its orders for the beverage
production machineries (the “Machineries”) for a total investment of approximately S$11 million, of
which S$2.5 million will be funded from the net proceeds of the Company’s initial public offering (the
“IPO”) while the remaining will be from the Company’s internal resources.
The Machineries are expected to be delivered to the Company’s production factory in Medan,
Indonesia, in the first half of financial year 2012 and the Company targets to complete the installation
of the Machineries to commence production of beverages by the second half of financial year 2012.

x 0

With market currently targeting penny stock, I think is the right time to buy.

x 0

The price of Consciencfood has increased by > 2%. Volume more than 200% as compared to the average volume traded over the past 1 month.

Looks like it is moving! Bought the share at 0.174 and 0.176. Want to wait until 0.21 and see.

x 0

ok NOW can buy???? any chartists out there??? help! thanku

x 0

Wheat price down very sharply good news for consciencefood. Faster jump into ship!

Hulumas ( Date: 18-Jun-2011 12:33) Posted:

Mid term down trend path.

tomker ( Date: 17-Jun-2011 18:34) Posted:

DBSV target price rise from 26cent to 35cent. Positive point 1)Wheat price coming down 2)Russia lift the wheat export ban 3) Cup noddle start production in 2nd half. 4) PE< 5. Good entry price now 23.5cent downside risk low. All thing in place just wait for east wind (More analysis write on higher target price and good result in coming qty

x 0

Mid term down trend path.

tomker ( Date: 17-Jun-2011 18:34) Posted:

DBSV target price rise from 26cent to 35cent. Positive point 1)Wheat price coming down 2)Russia lift the wheat export ban 3) Cup noddle start production in 2nd half. 4) PE< 5. Good entry price now 23.5cent downside risk low. All thing in place just wait for east wind (More analysis write on higher target price and good result in coming qty)

GuavaXF30 ( Date: 02-Jun-2011 12:38) Posted:

Div declared was not much to begin with (0.0068), so the run up was not because of Div. More likely, ppl are looking at this as being a more stable business than the other arse-chips out there.

0.25 is mid-band for this counter. It's just that in today's sea of red, can say the one-eyed man is king in the land of the blind

x 0

DBSV target price rise from 26cent to 35cent. Positive point 1)Wheat price coming down 2)Russia lift the wheat export ban 3) Cup noddle start production in 2nd half. 4) PE< 5. Good entry price now 23.5cent downside risk low. All thing in place just wait for east wind (More analysis write on higher target price and good result in coming qty)

GuavaXF30 ( Date: 02-Jun-2011 12:38) Posted:

Div declared was not much to begin with (0.0068), so the run up was not because of Div. More likely, ppl are looking at this as being a more stable business than the other arse-chips out there.

0.25 is mid-band for this counter. It's just that in today's sea of red, can say the one-eyed man is king in the land of the blind.

bluesky88 ( Date: 02-Jun-2011 09:30) Posted:

Anyone knows what happen? Top volume after XD..When then it will goes up to $.30 again? what will b the next resistance?

x 0

Div declared was not much to begin with (0.0068), so the run up was not because of Div. More likely, ppl are looking at this as being a more stable business than the other arse-chips out there.

0.25 is mid-band for this counter. It's just that in today's sea of red, can say the one-eyed man is king in the land of the blind.

bluesky88 ( Date: 02-Jun-2011 09:30) Posted:

Anyone knows what happen? Top volume after XD..When then it will goes up to $.30 again? what will b the next resistance?

x 0

Anyone knows what happen? Top volume after XD..When then it will goes up to $.30 again? what will b the next resistance?

x 0

loaded this today @ 0.25.

wish me luck :p

x 0

thank u Tom ker. i q at 24.

x 0

Dividend 0.68cent ex date : 6 June 11, today annou 1Q result profit ~1.23cent(annually ~4.9cent), based on today price PE < 5, OK to buy now, cheap lah!. New production line start 1H should be able to boost up the earning. Target price 40cent, just waiting some research house to write some positive view on this counter.

tea444u ( Date: 11-May-2011 20:14) Posted:

hi folks...this one can buy now? how much is the dividend? btw what is the exchange rate thank u...

x 0

hi folks...this one can buy now? how much is the dividend? btw what is the exchange rate thank u...

x 0

Hear say hear say from DMG::::

Consciencefood Holdings: S$0.285 Initiating BUY
(TP: S$0.39)

Strong growth ahead

Initiate with BUY and TP of S$0.39, based on 7x prospective earnings.
Newly-listed Consciencefood (CSF) is one of Indonesia ’s largest
manufacturer and retailer of instant noodles, commanding more than 50%
market share in North Sumatra and ~4% in the whole of Indonesia . It is set
to see strong earnings growth, driven by: (1) increased demand from its
existing market; (2) fledgling cup noodle and bottled beverage production
lines; (3) new production facility near Jakarta .

FY11-12F earnings CAGR of 40%; room for further growth. With a capacity to
produce 852m packs of instant noodles and 360 packs of snack noodles
annually, it is just running at 55% utilisation rate leaving plenty of room
to cater for further demand. We expect earnings CAGR of 40% to be driven by
fresh contribution from cup noodles and bottled beverages as well as better
margins from a new production facility in Jakarta .

Strong distribution network to launch new products. We are optimistic that
CSF’s new ventures into cup noodles and bottled beverages will be
well-received by the market as it already has an extensive distribution
network in place with 55 distributors across the country.

Attractively valued. At S$0.285, CSF trades at 5x FY11 P/E, which is one
of the most attractive compared to its regional peers. We are valuing CSF
at 7x FY11 earnings, the lower end of the band that its peers are currently
trading at (7-15x). Its direct competitor Indofood is going for 15x while
its Malaysian peer Mamee is trading at 11x.

x 0

I already vested! Hope to accum more while it is low.

x 0

this is 1 of the durian i m waiting to pick...

x 0

instant noodles +10 cents + 3.2% Smiley

high volume too !!

// ways to curb soaring inflation, perhaps have a economic bite to cure the stomach Smiley

//

x 0

Volume increasing, BB is accumulating the share & push the price to another platform, 0.36 soon. Annual result is otw high chances company will declare dividend.

epliew ( Date: 29-Dec-2010 22:27) Posted:

wow... missed the boat @0.265.

enghou ( Date: 15-Dec-2010 16:25) Posted:

UOBKH recommends BUY with Target Price of $0.385

What’s New

• We visited Consciencefood’s (CSF) instant noodle plant in Medan,

Indonesia and here are our key takeaways.

• New production line on track for completion by 1Q11. As guided in

its 3Q10 results, CSF’s production line for high fibre instant cup noodles

is on track for completion in Feb 11. A production line was also

upgraded to be more efficient and have a higher capacity. Utilisation

levels based on estimated 2010 production volumes will drop from 64%

to 55% post4upgrade/expansion.

• Jakarta plant targeted to come onstream in 4Q11. On its planned

establishment of a manufacturing plant in Jarkata, management

indicated it could be operational by 4Q11.

• Margins could come under pressure from higher wheat prices.

Wheat prices have risen 65% from end4June to date and could impact

margins given wheat flour is a key raw material. However, we believe

the company will be able to pass on most of the price increases to its

customers as instant noodles are a staple food in Indonesia. We have

factored into our earnings model slightly lower gross margins of 29.5%

for its instant noodles segment from 30% previously.

Stock Impact

• Growth drivers for 2011 in place, full impact of Jakarta plant to be

felt only in 2012. We believe CSF will be able to achieve double4digit

volume growth in 2011, with profit growth moderated somewhat by

pressures from higher wheat flour prices. For 2012, we expect impact to

earnings to come from a mix of volume growth and substitution of

existing OEM arrangements resulting in margin expansion.

• Potential re-rating as capacity comes onstream. The market should

start taking notice of Consciencefood following its capacity expansion

and earnings growth in 2011. We note the company remains in a net

cash position post4IPO and has significant capacity for expansion. The

stock is trading at attractive valuations and will likely see a re4rating as

operations grow. In our view, CSF remains an excellent proxy to

Indonesia’s consumers and its emerging middle class.

Earnings Revision/Risks

• We lower our 2011 earnings by 5.6% given the impact of higher wheat

flour prices. Despite this, core earnings growth is expected to remain

strong at 18.5% yoy for 2011.

• Major risks include:

a) Execution risks for new Jakarta factory,

b) Disruptions to operations or supply of raw materials, and

c) Further rise in wheat flour prices.

Valuation/Recommendation

• Maintain BUY. We maintain BUY and raise our target price to S$0.385

from S$0.365 as we roll forward our valuations to 2011. Our valuation is

based on a 9x PE on 2011F core earnings and a 40% discount to

recently4listed Indofood CBP’s (ICBP IJ) PE of 16x. Our target price

implies a PEG of 0.5x.

Share Price Catalysts

• Completion of new factory in Jakarta area.

• Deployment of cash hoard in new investments/acquisition

You have a nice day

x 0

wow... missed the boat @0.265.

enghou ( Date: 15-Dec-2010 16:25) Posted:

UOBKH recommends BUY with Target Price of $0.385

What’s New

• We visited Consciencefood’s (CSF) instant noodle plant in Medan,

Indonesia and here are our key takeaways.

• New production line on track for completion by 1Q11. As guided in

its 3Q10 results, CSF’s production line for high fibre instant cup noodles

is on track for completion in Feb 11. A production line was also

upgraded to be more efficient and have a higher capacity. Utilisation

levels based on estimated 2010 production volumes will drop from 64%

to 55% post4upgrade/expansion.

• Jakarta plant targeted to come onstream in 4Q11. On its planned

establishment of a manufacturing plant in Jarkata, management

indicated it could be operational by 4Q11.

• Margins could come under pressure from higher wheat prices.

Wheat prices have risen 65% from end4June to date and could impact

margins given wheat flour is a key raw material. However, we believe

the company will be able to pass on most of the price increases to its

customers as instant noodles are a staple food in Indonesia. We have

factored into our earnings model slightly lower gross margins of 29.5%

for its instant noodles segment from 30% previously.

Stock Impact

• Growth drivers for 2011 in place, full impact of Jakarta plant to be

felt only in 2012. We believe CSF will be able to achieve double4digit

volume growth in 2011, with profit growth moderated somewhat by

pressures from higher wheat flour prices. For 2012, we expect impact to

earnings to come from a mix of volume growth and substitution of

existing OEM arrangements resulting in margin expansion.

• Potential re-rating as capacity comes onstream. The market should

start taking notice of Consciencefood following its capacity expansion

and earnings growth in 2011. We note the company remains in a net

cash position post4IPO and has significant capacity for expansion. The

stock is trading at attractive valuations and will likely see a re4rating as

operations grow. In our view, CSF remains an excellent proxy to

Indonesia’s consumers and its emerging middle class.

Earnings Revision/Risks

• We lower our 2011 earnings by 5.6% given the impact of higher wheat

flour prices. Despite this, core earnings growth is expected to remain

strong at 18.5% yoy for 2011.

• Major risks include:

a) Execution risks for new Jakarta factory,

b) Disruptions to operations or supply of raw materials, and

c) Further rise in wheat flour prices.

Valuation/Recommendation

• Maintain BUY. We maintain BUY and raise our target price to S$0.385

from S$0.365 as we roll forward our valuations to 2011. Our valuation is

based on a 9x PE on 2011F core earnings and a 40% discount to

recently4listed Indofood CBP’s (ICBP IJ) PE of 16x. Our target price

implies a PEG of 0.5x.

Share Price Catalysts

• Completion of new factory in Jakarta area.

• Deployment of cash hoard in new investments/acquisition

You have a nice day