Thursday 28 Mar 2024
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Oriental Food Industries Hldg Bhd (-ve)
OFI (Fundamental: 2.5/3, Valuation: 1.2/3) has been registering a sharp uptick in daily trading volume since March 13, 2015. Over this period of little more than a week, its share price jumped from RM3.17 to as high as RM4.04 before closing at RM4.02 last Friday. That’s equivalent to a gain of 26.8%. There was no notable announcement from the company. 

OFI manufactures snack food and confectionary like potato chips, wafers and bakery products under popular brand names such as Jacker, Rota, SuperRing and Funtos. 

Revenue grew at a CAGR of 15.9% between FYMar2010 and FY2014 from RM125.7 million to RM226.9 million, of which about 52.3% are derived from export.

As at end-2014, the company has a net cash of RM27 million or 45 sen per share. The stock is currently trading 1.5 times book value and trailing P/E of 13 times. Dividend yield is around 2.4%.

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This article first appeared in The Edge Financial Daily, on March 23, 2015.

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