- P/E high at 13.7x, go to 10x for estimation
- Lackluster growth (FY2018 sales and profits see mere 5.3% and 2.1% yoy growth)
- Slew of bad news (Kimly Exe Chairman Lim Hee Liat and Exe director Chia Cher Khiang under investigation by the MAS & CAD.
- Backing off from Asian Story's acquisitions bcos Pokka intends to cut the outsourcing manufacturing for them.
- Cost pressures on labour, food cost, rental cost and expansion cost
- No competitive moat (you only go there for convenience sake)
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