DFI Retail Group

[maniac]

Notice that Michael Kok, the Group Chief Executive is offloading its company shares for few days, from 9 Apr 2013 till 17th Apr 2013 today. Total in few hundreds lots, and I believe he will continue to offload...

The company share over-valued?

(not vested)

Hi, Michael Kok is not the current CEO of Dairy Farm.

[CityFarmer]

Notice that Michael Kok, the Group Chief Executive is offloading its company shares for few days, from 9 Apr 2013 till 17th Apr 2013 today. Total in few hundreds lots, and I believe he will continue to offload...

The company share over-valued?

(not vested)

Hi, Michael Kok is not the current CEO of Dairy Farm.

Check with latest 2012 AR, Mr. Michael Kok retired as Group Chief Executive at the end of December 2012 after six years in the role. He remains as a non-executive Director.

Thanks for pointed it out. Probably the reason for divestment.

[CityFarmer]

Another insider selling, Alex Tay, Regional Director, South Asia, sold 51 lots today

http://info.sgx.com/webcoranncatth.nsf/V...80038ECC2/$file/04-25.pdf?openelement

[greengiraffe]

Cornered Jardine stable of companies. Didn't even realise my odd lots is worth at least 8 times my original costs.

Amazing.

GG

Another insider selling, Alex Tay, Regional Director, South Asia, sold 51 lots today

http://info.sgx.com/webcoranncatth.nsf/V...80038ECC2/$file/04-25.pdf?openelement

[CityFarmer]

Another insider selling, Alex Tay, Regional Director, South Asia, sold 51 lots today

http://info.sgx.com/webcoranncatth.nsf/V...80038ECC2/$file/04-25.pdf?openelement

Alex Tay sold another 95+ lots on 26 Apr 2013, with price of US$12.

http://info.sgx.com/webcoranncatth.nsf/V...900370177/$file/04-26.pdf?openelement

(not vested)

[wizguy84]

any buddies can give some light on the "weight" that has pulled down, and still appearing to be pulling, dairy farm?

no wonder the management people started selling at USD12!

[snowcap]

Dairy Farm is thinly traded. Hence price volatility is not indicative of any underlying changes in value.

Anyway it's a little overvalued at $12.

[snowcap]

Dairy Farm is thinly traded. Hence price volatility is not indicative of any underlying changes in value.

Anyway it's a little overvalued at $12.

The fall was attributed by some in the media to the "tapering" of US treasury bond buying, which is supposed to adversely affect emerging markets like Indonesia, in which Dairy Farm has operations.

My view is that this impact will be temporal. Groceries are not cyclical, and will not be affected much by what happens to the rest of the economy.

However, at current price, the PE is still around 33(!). So I will not be accumulating until I have my own margin of safety met.

<vested>

[felixleong]

Yeah at PE 33 its really still too expensive, maybe something like 15-20 times earnings would be more reasonable?

[snowcap]

Yeah at PE 33 its really still too expensive, maybe something like 15-20 times earnings would be more reasonable?

Well, Sheng Siong is 25. And given that DF has a bigger moat (established brands like Cold Storage, Guardian, etc) it should have a premium over SS.

See the metrics comparison in the article below.
http://www.fool.sg/2013/08/15/foolish-fa...-holdings/

<not vested in Sheng Siong>