thaibev results tmr for anyone that is keen, they are major shareholder of FNN


previously a year ago dbs research report got mentioned a share swap
in which thaibev reduces its position in FPL to increase its position in FNN
however instead thaibev became busy with their string of 4 acqusitions including sabeco so end up never makan FNN thus u see the stock price falling from 3.00 to 1.70 over last 1 year period

this one more of a value play la, its very undervalued but may remain so for a long time

i am comfortable holdin long long as long as earnings and dividends keep increasing 10% or better a year

if fnn is bought out its a bonus to me, if not its fine


Reply to @MasterLeong : Again sold down :(


another catalyst is making new acqusitions
F&N gearing is pretty low at 10%-20% range now, in past agm(read from blog) management got stated before they are comfortable gearing up to 50% to 80% range
considering low rates environment, hope they can find some good deals like the thai starbucks deal
else they add more vinamilk i also fine

another catalyst is growth from mynamar brewary which is new

previously they were force to sell their stake in myanmar market which ended up getting half bil in cash

now they invested 70mil for brewart in myanmar to try repeat the succeed again, all capex already done now is just advertising and delivery to distributors so if can repeat it may eventually growth into a 1bil biz in myanmar, i think the odds are good given their experoence
however the problem lies in time line, it may take 3-5 years so this stock really is for those who seek long term

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