22 August 2012

Old Chang Kee - Latest Corporate News

Old Chang Kee recently announced that it acquired a property at Woodlands Terrace for S$4.2M. The Property is an intermediate terrace factory leased by JTC Corporation to the Vendor for a period of 60 years from 1 September 1994, and has a land area of 1,296 square metres. It will be used primarily for food processing and storage.

Attached latest inancial figures extracted from Annual Report. Please note that 2012 figures comprised of 15 months as it restated financial report year end to 31 March from 31 December.





From the above figures, we understand that the group is in the fierce competition, as their net profit margin is below 10% (at mere 5.9%). Nonetheless, annualized ROE stands at 14% - 15% (without diluted EPS). With healthy financial ratio, we now have to wait and see how the management can grow its business and manage cost more efficiently.


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