Breadtalk

(22-12-2014, 10:10 AM)Ray168 Wrote: Hear Me Out: Episode 3


George Quek, Entrepreneur and Community Leader: In the third episode of Hear Me Out, George Quek, the man behind local food business group BreadTalk, shares with hosts Bryan Wong and Lim Peifen on how he built his food business from scratch. In recent years, he has also been actively involved in public service work.

http://xin.msn.com/en-sg/video/catchup/hear-me-out-episode-3/vp-fa6cac19-37fd-461b-b684-0937302cbe1f

Public service work such as "grass roots work" ?

That is more like networking with the big shots rather than doing real charity work. But that is probably good for getting new business opportunities.

Walking into Din Tai Fung and Breadtalk on a regular basis, I've noticed something. It seems like the company hires a lot of foreign talents. How does the company do that in light of the tightening of the labour market? Or are these actually new citizens?

(22-06-2015, 11:32 PM)Ferns Wrote: Walking into Din Tai Fung and Breadtalk on a regular basis, I've noticed something. It seems like the company hires a lot of foreign talents. How does the company do that in light of the tightening of the labour market? Or are these actually new citizens?

get the FTs to work at BT HQ as training. Hire non-PRC Chinese.

Anyone can justify why BreadTalk is trading at 29-31 P/E?

Personally, I see their operating costs escalating, and profit margins slightly squeezed. The growth has also slowed down.

If they were to expand aggressively in the coming quarters, do they have the financial capability? Just wondering.....

I am not familiar with BreadTalk stock, but just thinking out loud. But one thing for sure, the earnings are depressed by depreciation. Should we add back some of the depreciation?

^^^ at AGM, Board already said this year is a year of consolidation.

(23-06-2015, 10:49 PM)opmi Wrote: ^^^ at AGM, Board already said this year is a year of consolidation.

Thanks opmi for your reply. I was just wondering... can they really push forward with expansion successfully, and the larger picture, is the current valuations justifiable? It does seem over stretched and I would likely expect 20% growth rate from the bottom line. Considering the increase in operating costs, is it possible? Hmm...

Since you mentioned that earnings is depressed by depreciation, why not take a look at the cashflow statement to see if it growing?

In fact, depreciation is >1.7X of it's earnings. Hence, the profit margin and EPS are 'distorted".

Base on current market cap of $389M and its operating cash flow of $89M; the ROI is 4.9X. This means that if someone buy over BT now, it takes <5 years for him to recoup the investment.

(23-06-2015, 10:40 PM)kelvesy Wrote: Anyone can justify why BreadTalk is trading at 29-31 P/E?

Personally, I see their operating costs escalating, and profit margins slightly squeezed. The growth has also slowed down.

If they were to expand aggressively in the coming quarters, do they have the financial capability? Just wondering.....

I am not familiar with BreadTalk stock, but just thinking out loud. But one thing for sure, the earnings are depressed by depreciation. Should we add back some of the depreciation?

SG50 gift from BT:

http://www.straitstimes.com/singapore/br...y-prepared

Not surprising. I was at Suntec DTF. I saw the cook poured out peanut soup from a can (those China brand one you see at supermarkets) for the "Tang Yuan".

At the Toastbox @ IHQ, the peanut butter they used for the toast is from Peter Pan.

No problem with them using this. I will have problems if they said it is "fresh"

TW example

https://www.google.com.sg/webhp?sourceid...4%E4%BA%BA

Another complaint about BreadTalk repackaging others’ products as its own
http://www.theonlinecitizen.com/2015/08/...s-its-own/

http://forums.hardwarezone.com.sg/eat-dr...24973.html

not vested