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KUALA LUMPUR: On the back of strong earnings results in its latest quarter, Fraser & Neave Holdings Bhd (F&N) is displaying resilience during the pandemic and is expected to record stronger earnings moving into the year-end. According to Kenanga Research, the beverage maker s 9MFY21 results were above expectations at 80% and 78% of its and consensus full-year estimates, considering the prevailing restrictions as compared to the previous corresponding period. As the vaccination rate in Malaysia grows and herd immunity is targeted for December, F&N s earnings are expected to receive a boost in the months ahead. Premised on the ease of restrictions coupled with year-end activities ....
BURSA Malaysia-listed companies have realised how important it is to be cash rich when faced with an unexpected and severe situation like the Covid-19 pandemic. This is especially given the tough economic conditions the business community has had to weather in the past year, with lockdowns enforced in Malaysia and its major trading partners to contain the spread of the virus, bringing activities practically to a standstill. Many companies built up their cash positions in 2020 in anticipation of the severe economic downturn due to Covid-19, notes private investor and former investment banker Ian Yoong. “Larger listed companies issued bonds and other fixed-income securities. It is a natural response to be conservative in the face of an impending severe economic downturn,” he says. ....
KUALA LUMPUR: Kenanga Research has tapered its earnings estimate on Fraser & Neave Holdings Bhd amid the resurgence of Covid-19 cases and higher commodity price trends but it expects the group to weather the uncertain times. The research house, which has a market perform on the stock, said it expects FY21 core net profit to lower than than initially expected despite the first quarter result coming within expectations at 31% of its and consensus full-year estimates. Moving forward, qualms surrounding the resurgence of Covid-19 globally as well as the higher commodity price trends are likely to continue to temper with the anticipated earnings recovery, it said. ....
Fraser & Neave Holdings Bhd (F&N) is set to establish halal food as the cornerstone of its growth, following its acquisition of Sri Nona companies for RM60 million, which was announced in December last year, besides exploring ways to reimagine its business through organic growth and business synergies to ensure a more sustainable future. ....
’s (F&N) wholly-owned subsidiary Awana Citra Sdn Bhd has proposed to acquire the entire equity interest in three companies under the Sri Nona group for RM60mil cash. In a filing with Bursa Malaysia, F&N said Awana Citra had on Dec 13 entered into a conditional share sale agreement with Siew Yun Sing and Tong Saw Man (vendors), in relation to the proposed acquisition. Subject to the terms and conditions of the share sale agreement, the aggregate cash consideration for the Sri Nona Companies is up to RM60mil. The three companies are Sri Nona Food Industries Sdn Bhd, Sri Nona Industries Sdn Bhd and Lee Shun Hing Sauce Industries Sdn Bhd. ....