Highlights
KLSE: KAWAN (7216)       KAWAN FOOD BHD MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
2.21   -0.07 (3.07%)  2.18 - 2.23  387,800
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Additional Listing

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Ann. Date Date Type Units Price Total NOSH View
27-Jan-2014 28-Jan-2014 Others 1,890 1.400 120,001,890 Additional Listing Detail
26-Feb-2014 27-Feb-2014 Others 16,000 1.400 120,017,890 Additional Listing Detail
03-Mar-2014 04-Mar-2014 Others 64,500 1.400 120,082,390 Additional Listing Detail
07-Mar-2014 10-Mar-2014 Others 108,000 1.400 120,190,390 Additional Listing Detail
11-Mar-2014 12-Mar-2014 Others 24,500 1.400 120,214,890 Additional Listing Detail
13-Mar-2014 14-Mar-2014 Others 5,000 1.400 120,219,890 Additional Listing Detail
17-Mar-2014 18-Mar-2014 Others 43,500 1.400 120,263,390 Additional Listing Detail
21-Mar-2014 24-Mar-2014 Others 31,000 1.400 120,294,390 Additional Listing Detail
04-Apr-2014 07-Apr-2014 Others 80,000 1.400 120,374,390 Additional Listing Detail
08-Apr-2014 09-Apr-2014 Others 140,000 1.400 120,514,390 Additional Listing Detail
10-Apr-2014 11-Apr-2014 Others 50,000 1.400 120,564,390 Additional Listing Detail
18-Apr-2014 21-Apr-2014 Others 106,000 1.400 120,670,390 Additional Listing Detail
22-Apr-2014 23-Apr-2014 Others 25,000 1.400 120,695,390 Additional Listing Detail
24-Apr-2014 25-Apr-2014 Others 73,000 1.400 120,768,390 Additional Listing Detail
05-May-2014 06-May-2014 Others 15,000 1.400 120,783,390 Additional Listing Detail
27-Jun-2014 30-Jun-2014 Others 6,000 1.400 120,789,390 Additional Listing Detail
31-Jul-2014 01-Aug-2014 Others 355,550 1.400 121,144,940 Additional Listing Detail
07-Aug-2014 08-Aug-2014 Others 4,000 1.400 121,148,940 Additional Listing Detail
19-Aug-2014 20-Aug-2014 Others 5,000 1.400 121,153,940 Additional Listing Detail
21-Aug-2014 22-Aug-2014 Others 386,800 1.400 121,540,740 Additional Listing Detail
05-Dec-2014 08-Dec-2014 Others 10,325 1.400 121,551,065 Additional Listing Detail
12-Dec-2014 15-Dec-2014 Others 15,000 1.400 121,566,065 Additional Listing Detail
12-Jan-2015 13-Jan-2015 Others 159,075 0.930 182,508,166 Additional Listing Detail
26-Jan-2015 27-Jan-2015 Others 1,250 0.930 182,509,416 Additional Listing Detail
11-Feb-2015 12-Feb-2015 Others 181,350 0.930 182,690,766 Additional Listing Detail
19-Mar-2015 20-Mar-2015 Others 166,100 0.930 182,856,866 Additional Listing Detail
01-Apr-2015 02-Apr-2015 Others 13,000 0.930 182,869,866 Additional Listing Detail
10-Apr-2015 13-Apr-2015 Others 408,050 0.930 183,277,916 Additional Listing Detail
14-Apr-2015 15-Apr-2015 Others 5,000 0.930 183,282,916 Additional Listing Detail
23-Apr-2015 24-Apr-2015 Others 220,800 0.930 183,503,716 Additional Listing Detail
29-Apr-2015 30-Apr-2015 Exercise of Warrants 113,500 0.930 183,617,216 Additional Listing Detail
13-May-2015 14-May-2015 Exercise of Warrants 42,152 0.930 183,659,368 Additional Listing Detail
15-May-2015 18-May-2015 Exercise of Warrants 864,098 0.930 184,523,466 Additional Listing Detail
03-Jun-2015 04-Jun-2015 Exercise of Warrants 193,000 0.930 184,716,466 Additional Listing Detail
05-Jun-2015 08-Jun-2015 Exercise of Warrants 274,500 0.930 184,990,966 Additional Listing Detail
10-Jun-2015 11-Jun-2015 Exercise of Warrants 60,000 0.930 185,050,966 Additional Listing Detail
15-Jun-2015 16-Jun-2015 Exercise of Warrants 12,595,775 0.930 197,646,741 Additional Listing Detail
23-Jun-2015 24-Jun-2015 Exercise of Warrants 677,000 0.930 198,323,741 Additional Listing Detail
25-Jun-2015 26-Jun-2015 Exercise of Warrants 3,709,000 0.930 202,032,741 Additional Listing Detail
01-Jul-2015 02-Jul-2015 Exercise of Warrants 41,000 0.930 202,073,741 Additional Listing Detail
13-Jul-2015 14-Jul-2015 Exercise of Warrants 32,000 0.930 202,105,741 Additional Listing Detail
16-Jul-2015 20-Jul-2015 Exercise of Warrants 116,000 0.930 202,221,741 Additional Listing Detail
23-Jul-2015 24-Jul-2015 Exercise of Warrants 30,000 0.930 202,251,741 Additional Listing Detail
30-Jul-2015 31-Jul-2015 Exercise of Warrants 56,000 0.930 202,307,741 Additional Listing Detail
11-Aug-2015 12-Aug-2015 Exercise of Warrants 94,000 0.930 202,401,741 Additional Listing Detail
19-Aug-2015 20-Aug-2015 Exercise of Warrants 651,325 0.930 203,053,066 Additional Listing Detail
28-Aug-2015 01-Sep-2015 Exercise of Warrants 184,500 0.930 203,237,566 Additional Listing Detail
28-Aug-2015 01-Sep-2015 Exercise of Warrants 110,000 0.930 203,347,566 Additional Listing Detail
07-Sep-2015 08-Sep-2015 Exercise of Warrants 158,000 0.930 203,505,566 Additional Listing Detail
11-Sep-2015 14-Sep-2015 Exercise of Warrants 109,500 0.930 203,615,066 Additional Listing Detail
18-Sep-2015 21-Sep-2015 Exercise of Warrants 3,000 0.930 203,618,066 Additional Listing Detail
30-Sep-2015 01-Oct-2015 Exercise of Warrants 58,800 0.930 203,676,866 Additional Listing Detail
09-Oct-2015 12-Oct-2015 Exercise of Warrants 43,000 0.930 203,719,866 Additional Listing Detail
15-Oct-2015 16-Oct-2015 Exercise of Warrants 118,000 0.930 203,837,866 Additional Listing Detail
22-Oct-2015 23-Oct-2015 Exercise of Warrants 171,900 0.930 204,009,766 Additional Listing Detail
30-Oct-2015 02-Nov-2015 Exercise of Warrants 365,800 0.930 204,375,566 Additional Listing Detail
05-Nov-2015 06-Nov-2015 Exercise of Warrants 269,000 0.930 204,644,566 Additional Listing Detail
16-Nov-2015 17-Nov-2015 Exercise of Warrants 479,200 0.930 205,123,766 Additional Listing Detail
23-Nov-2015 24-Nov-2015 Exercise of Warrants 163,800 0.930 205,287,566 Additional Listing Detail
02-Dec-2015 03-Dec-2015 Exercise of Warrants 99,400 0.930 205,386,966 Additional Listing Detail
14-Dec-2015 15-Dec-2015 Exercise of Warrants 104,800 0.930 205,491,766 Additional Listing Detail
21-Dec-2015 22-Dec-2015 Exercise of Warrants 407,200 0.930 205,898,966 Additional Listing Detail
29-Dec-2015 30-Dec-2015 Exercise of Warrants 243,400 0.930 206,142,366 Additional Listing Detail
04-Jan-2016 05-Jan-2016 Exercise of Warrants 3,535,179 0.930 209,677,545 Additional Listing Detail
07-Jan-2016 08-Jan-2016 Exercise of Warrants 891,300 0.930 210,568,845 Additional Listing Detail
13-Jan-2016 14-Jan-2016 Exercise of Warrants 273,800 0.930 210,842,645 Additional Listing Detail
15-Jan-2016 18-Jan-2016 Exercise of Warrants 590,000 0.930 211,432,645 Additional Listing Detail
19-Jan-2016 20-Jan-2016 Exercise of Warrants 276,800 0.930 211,709,445 Additional Listing Detail
28-Jan-2016 29-Jan-2016 Exercise of Warrants 245,700 0.930 211,955,145 Additional Listing Detail
04-Feb-2016 05-Feb-2016 Exercise of Warrants 213,750 0.930 212,168,895 Additional Listing Detail
10-Feb-2016 11-Feb-2016 Exercise of Warrants 375,200 0.930 212,544,095 Additional Listing Detail
16-Feb-2016 17-Feb-2016 Exercise of Warrants 124,000 0.930 212,668,095 Additional Listing Detail
19-Feb-2016 22-Feb-2016 Exercise of Warrants 102,700 0.930 212,770,795 Additional Listing Detail
23-Feb-2016 24-Feb-2016 Exercise of Warrants 7,012,000 0.930 219,782,795 Additional Listing Detail
03-Mar-2016 04-Mar-2016 Exercise of Warrants 153,187 0.930 219,935,982 Additional Listing Detail
08-Mar-2016 09-Mar-2016 Exercise of Warrants 179,100 0.930 220,115,082 Additional Listing Detail
11-Mar-2016 14-Mar-2016 Exercise of Warrants 865,400 0.930 220,980,482 Additional Listing Detail
21-Mar-2016 22-Mar-2016 Exercise of Warrants 210,000 0.930 221,190,482 Additional Listing Detail
24-Mar-2016 25-Mar-2016 Exercise of Warrants 271,000 0.930 221,461,482 Additional Listing Detail
31-Mar-2016 01-Apr-2016 Exercise of Warrants 1,914,187 0.930 223,375,669 Additional Listing Detail
04-Apr-2016 05-Apr-2016 Exercise of Warrants 5,457,900 0.930 228,833,569 Additional Listing Detail
06-Apr-2016 07-Apr-2016 Exercise of Warrants 1,540,500 0.930 230,374,069 Additional Listing Detail
18-Apr-2016 19-Apr-2016 Exercise of Warrants 5,000,074 0.930 235,374,143 Additional Listing Detail
11-May-2016 12-May-2016 Exercise of Warrants 1,435,825 0.930 236,809,968 Additional Listing Detail
20-May-2016 23-May-2016 Exercise of Warrants 634,262 0.930 237,444,230 Additional Listing Detail
03-Jun-2016 06-Jun-2016 Exercise of Warrants 202,125 0.930 237,646,355 Additional Listing Detail
10-Jun-2016 13-Jun-2016 Exercise of Warrants 106,700 0.930 237,753,055 Additional Listing Detail
15-Jun-2016 16-Jun-2016 Exercise of Warrants 727,800 0.930 238,480,855 Additional Listing Detail
24-Jun-2016 27-Jun-2016 Exercise of Warrants 79,400 0.930 238,560,255 Additional Listing Detail
04-Jul-2016 05-Jul-2016 Exercise of Warrants 472,425 0.930 239,032,680 Additional Listing Detail
14-Jul-2016 18-Jul-2016 Exercise of Warrants 490,100 0.930 239,522,780 Additional Listing Detail
20-Jul-2016 21-Jul-2016 Exercise of Warrants 509,110 0.930 241,157,952 Additional Listing Detail
20-Jul-2016 21-Jul-2016 Exercise of Warrants 1,126,062 0.930 240,648,842 Additional Listing Detail
26-Jul-2016 27-Jul-2016 Exercise of Warrants 12,318,584 0.930 253,476,536 Additional Listing Detail
02-Aug-2016 03-Aug-2016 Exercise of Warrants 13,602,608 0.930 267,079,144 Additional Listing Detail
08-Aug-2016 09-Aug-2016 Exercise of Warrants 2,419,426 0.930 269,498,570 Additional Listing Detail
11-Aug-2016 12-Aug-2016 Exercise of Warrants 56,250 0.930 269,554,820 Additional Listing Detail
17-Aug-2016 18-Aug-2016 Exercise of Warrants 85,000 0.930 269,639,820 Additional Listing Detail
27-May-2022 30-May-2022 ESOS 15,000 1.550 359,534,760 Additional Listing Detail
25-Jul-2022 26-Jul-2022 ESOS 2,500 1.550 359,537,260 Additional Listing Detail
19-Aug-2022 22-Aug-2022 ESOS 230,000 1.550 359,767,260 Additional Listing Detail
24-Aug-2022 25-Aug-2022 ESOS 100,000 1.540 359,867,260 Additional Listing Detail
23-Sep-2022 26-Sep-2022 ESOS 779,600 1.550 360,646,860 Additional Listing Detail
23-Sep-2022 26-Sep-2022 ESOS 150,000 1.540 360,796,860 Additional Listing Detail
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  4 people like this.
 
monetary noni. u just unfriended a most sincere friend. lol!
28/02/2022 6:24 PM
All_in_2021 but today's share price still drop
28/02/2022 6:38 PM
monetary u sold? sbb at 1.62 today. Hehe...
28/02/2022 6:55 PM
All_in_2021 panic awhile but i believe QR is good so hang on to it..
28/02/2022 7:00 PM
All_in_2021 but why sbb? any intention? seems like buying back at low price rather than pushing it higher
28/02/2022 7:15 PM
Pang Public Bank TP :2.60
01/03/2022 5:10 PM
All_in_2021 today not much movement
01/03/2022 5:17 PM
gordonn Qr results is out around 10mi net profit. Superb results. And dividend 3sen per share.
02/03/2022 11:30 AM
All_in_2021 still continue share buy back...
04/03/2022 1:21 PM
Mark Goh Want to compare this stock with its peers?

LVI: Food & Beverages Sector Price to EPS Peer Comparison (and economic moat)
https://klse.i3investor.com/web/blog/detail/VIE/2022-03-11-story-h1600187815-LVI_Food_Beverages_Sector_Price_to_EPS_Peer_Comparison_and_economic_moa
11/03/2022 12:18 PM
All_in_2021 director keeps buying back after company share buy back..what motif?
11/04/2022 7:47 PM
Noni Wayang?
13/04/2022 4:31 AM
All_in_2021 but he is not selling, or maybe waiting for the right timing to sell
13/04/2022 7:32 PM
All_in_2021 good move, acquiring lands to expand the business
21/04/2022 7:52 PM
GoldenCoin23 run... put money in pocket first
25/04/2022 10:42 AM
hengman Bangkitlah Kawanku. Time to stand and rise.
25/04/2022 7:37 PM
Good123 dah mau terbang ka?
Strong demand a boon for Kawan
TheStar Wed, May 25, 2022 12:00am - 12 hours



Kawan Food

PETALING JAYA: Kawan Food Bhd is expected to be driven by the resilient demand for its products.

The company, which manufactures frozen food, can also benefit from greater efficiencies in the midst of the heightened inflationary environment economically.

Public Invest Research said its most recent reported first-quarter (1Q) results were in line with its and consensus expectations, and this had accounted for 23.1% and 20.3% of their forecasts, respectively.

The research house noted that Kawan’s valuation looked undemanding, as it was currently trading at a price-to-earnings ratio (PER) of 16 times, which is almost minus one standard deviation of its three-year historical average.

Kawan Food products
Kawan Food products

“We are still positive on Kawan’s future outlook, which will be underpinned by strong demand for frozen food products and greater production efficiency to mitigate the impact on the rising raw material prices,” Public Invest Research said.

It has maintained its “outperform” call on the counter with a lower target price of RM2.50 from RM2.60 as it had lowered its PER multiple to 20 times from 25 times.

Meanwhile, CGS-CIMB said that it expects Kawan to post better earnings over the next nine months, especially in the second half of the 2022 year and this would be supported by by higher sales.

It also said that the company would benefit from strong demand while it had also secured more new export clients.

“Also, Kawan should benefit from raising its selling prices by up to 8% in 1Q. In our view, raising the selling prices should help to mitigate rising input costs which constituted about 45%-50% of total costs last year, further aided by better cost control,” CGS-CIMB said.

The research house is also expecting a new warehouse and facility to only begin operating in 1Q of next year.

“With the 1Q results in line with expectations, we reiterate our ‘add’ call and a target price of RM2.50 based on a 20 times 2023 forecast PER, which is a 40% discount to our 33.2 times 2023 forecast PER for the consumer sector,” CGS-CIMB said.
25/05/2022 12:15 PM
Good123 RSI(14) Neutral 42.9
Stochastic(14) Oversold 5.6
Average Volume (3M) 2,502
Relative Volume 0.3
25/05/2022 12:16 PM
Good123 52w 1.450 - 2.160
ROE 8.92
P/E 18.36
EPS 9.10
DPS 3.00
DY 1.80%

NTA 1.0200
P/B 1.64
RPS 70.96
PSR 2.35
Market Cap 600.4M
Shares (mil) 359.52
25/05/2022 12:16 PM
Good123 Sapu balik dah bermula?

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : DEALINGS DURING CLOSED PERIOD
KAWAN FOOD BERHAD

Subject Dealings During Closed Period
Date of announcement made for "Intention to Deal During Closed Period" 26 Apr 2022

No Salutation Name Designation Description Of "Others" Designation
1 MR GAN THIAM CHAI Chairman & Executive Director
Type of Transaction Acquired
Description of "Others" Type of Transaction
Date of Transaction 23 May 2022
Description of Securities Ordinary Shares
(Direct Interest)
No of Securities Transacted 6,600
% of Securities Transacted 0.002
Consideration Malaysian Ringgit (MYR) 1.650


Remarks :
1. The percentage of holdings is based on the total number of issued shares of 358,637,660 (excluding 882,100 Treasury Shares).

2. Deemed interested in the shares by virtue of Section 59 of the Companies Act 2016, held through his children, namely Gan Ka Hui and Gan Ka Ooi who holds 4,700,300 and 6,011,300 ordinary shares respectively, representing a total of 2.987% in the shareholdings of the Company.

This announcement is dated 24 May 2022.
25/05/2022 12:18 PM
Good123 Price Target

Kawan Food Berhad - Backed by Strong Demand
Source : PUBLIC BANK, Price Call : BUY, Price Target : 2.50
Last Price : 1.67, Upside/Downside : +0.83(49.70%)
25/05/2022 12:20 PM
Good123 Market cap rm600mil@1.67 today

31.12.2020 market cap was rm747.8mil... @rm2.08

Expecting rebound based the quarterly performance reported, etc ... Sabar ya!
25/05/2022 12:35 PM
GoldenCoin23 Sold at 1.74, today reenter at 1.66. When exdate for 3 cents dividends?
25/05/2022 5:35 PM
Good123 Commentary on the prospect




As the Malaysia’s economy is keeping its solid momentum, assisted by the transition to the Endemic phase of Covid-
19, the Group has observed an encouraging rebound in export sales and uptrend sales in modern trade and HORECA.
Ongoing raw material costs hike mainly due to the volatile global markets leads to the higher commodity price, the
Group has initiated the hedging to key raw materials price that significantly mitigating the risk of margin erosion.
The Group will continue to remain competitive and seek opportunities to grow its business. Despite the challenges on
higher raw material prices, with the cash reserves that allow the Group to capitalise on suitable M&A opportunities, that
will adequately support the expansion plans moving forward.
The Group is expecting the issue of labor shortage to be resolved in Q2 by increasing the workforce capacity in 2022 in
line with government policies. This in turn has provided the opportunity to generate higher revenue while at the same
time would be able to drive the readiness to launch more new healthy food products such as plant-based meals.
The Group continuously focuses in ensuring the operational efficiencies and cost optimization in our business. Adding
to that, the implementation of Industry 4.0 in strategic phases has notably enhanced the production of output and
manufacturing capability.
25/05/2022 5:54 PM
Good123 Baguslah :)

2022-05-25

Insider

MR GAN THIAM CHAI (a substantial shareholder) acquired 6,600 shares on 23-May-2022.

2022-05-25

Insider

MR GAN THIAM CHAI (a substantial shareholder) acquired 6,600 shares on 23-May-2022.

2022-05-25

Insider

MR GAN THIAM CHAI (a company director) acquired 6,600 shares on 23-May-2022.

2022-05-24

Announcement

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Dealings During Closed Period

2022-05-24
25/05/2022 9:13 PM
Good123 Macam mau naik lagi :)

Market Depth
Best Buy
Position

Price

Volume

Orders

1

1.66

16,000

4

2

1.65

31,700

8

3

1.64

34,000

4

4

1.63

26,000

4

5

1.62

2,000

1

Best Sell
Position

Price

Volume

Orders

1

1.69

23,100

3

2

1.70

4,000

1

3

1.76

8,000

3

4

1.77

2,000

1
31/05/2022 9:21 AM
Good123 Insiders beli berterusan :)

2022-05-30

Announcement

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Dealings Outside Closed Period

2022-05-30

Insider

MR GAN THIAM CHAI (a substantial shareholder) acquired 50,000 shares on 26-May-2022.

2022-05-30

Insider

MR GAN THIAM CHAI (a company director) acquired 50,000 shares on 26-May-2022.

2022-05-27
31/05/2022 9:22 AM
wallstreetrookie Recession means people will eat fast food (refrigerated/frozen food).
Kawan Food will do well in the next quarter
10/08/2022 2:31 PM
wallstreetrookie Reloaded again
12/08/2022 2:09 PM
wallstreetrookie Still no analyst coverage = STRONG BUY
20/08/2022 10:38 PM
wallstreetrookie I cannot say too much but their quarterly result looks promising
20/08/2022 10:39 PM
investortrader88 https://www.theedgemarkets.com/article/kawan-food-2q-net-profit-rises-higher-sales-local-exports-markets
23/08/2022 9:16 AM
25/08/2022 8:48 PM
wallstreetrookie Who cares about him. If a company reports good earnings, well then just hold it
25/08/2022 8:48 PM
wallstreetrookie Capital Dynamics will buy more Kawan shares you wanna wait for them to pump the price up before buying
25/08/2022 8:48 PM
wallstreetrookie Buy side analysts LOVE this stock.
25/08/2022 8:49 PM
wallstreetrookie Kawan Food Catalysts
1. Drop in raw material cost - palm oil price has been dropping since Q2 2022
2. Recession-proof industry - poor people will eat more frozen food instead of fresh food to save costs
3. Their Roti Canai seriously tastes delicious
4. Acquisition target of major F&B players like Nestle Malaysia
5. Good MGMT. MR GAN THIAM CHAI is a smart businessman.
25/08/2022 8:51 PM
wallstreetrookie Capital Dynamics will buy Kawan Food. Just wait
30/08/2022 11:34 PM
wallstreetrookie They either missed the boat or they all in already
30/08/2022 11:34 PM
wallstreetrookie Kawan Food is one of the few stocks analysts should go overweight on. Price target upgrade to RM3.50 based on reverse DCF analysis. Dumb sell side analysts trying to predict cash flow will fail. No need to use complex revenue forecasting model
I am using a different valuation method. I believe that Kawan Food at RM2.24 still presents the best opportunity from a risk-reward perspective.

Long term, based on bull case, we think that Kawan Food will be the No 1 player in the Malaysian Food & Beverages. Management provided very good guidance for the next few quarters forward. I won't sell Kawan Food yet.
10/09/2022 8:30 AM
investortrader88 https://www.theedgemarkets.com/article/diversification-plan-cards-kawan-food
14/09/2022 3:54 PM
Srsm Trader strong stock but no publicity.
21/09/2022 4:31 PM
wallstreetrookie Good morning
23/09/2022 9:24 AM
wallstreetrookie Easy to forecast their future earnings. When economy is not doing good, people become poor. So they eat more fast food and frozen food.
Which company is leading in frozen food in Malaysia?

That’s right. It’s Kawan Food
Buy
23/09/2022 10:20 AM
wallstreetrookie Kawan Food is the only stock that didn’t drop when the whole market crashed in 2007 and 2008. Just look at the chart. We continue to like Kawan Food for their profitability, resilient customer base
23/09/2022 5:09 PM
wallstreetrookie Kawan Food will be acquired by a major F&B player if market does not support its valuation. We still think it’s highly likely
23/09/2022 5:10 PM
investortrader88 RHB 20 Jewels 2022 Edition


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23/09/2022 7:32 PM
investortrader88 KUALA LUMPUR (April 21): Convenience food manufacturer Kawan Food Bhd is buying five parcels of land measuring 7.08 acres in Shah Alam, Selangor for a total of RM50.46 million, as part of its expansion plans.

Kawan Food said it intends to build a second manufacturing facility for its operations on the proposed site. It plans to expand its cold room facility to include a warehouse and cold chain distribution for in-house and external products, equipped with new technology such as robotic automated warehouse to cater for frozen, chilled and ambient food products.

"This would enable Kawan Food to explore new ideas and growing product diversity for new markets. Also, with the strategic location in Shah Alam, there is potential reduction in logistic cost for deliveries in local market," it said in a bourse filing on Thursday (April 21).

Kawan Food's wholly-owned subsidiary Kawan Food Manufacturing Sdn Bhd (KFMSB) has entered into a sale and purchase agreement with RGP Warehouse Solutions Sdn Bhd to buy three parcels of land totalling 4.07 acres for RM28.94 million or RM163.199 per sq ft. KFMSB is also in the process of acquiring another two parcels of land totalling 3.01 acres from Perbadanan Kemajuan Negeri Selangor (PKNS) for RM21.52 million.

The group said it will finance the land acquisition through internal funds and/or external borrowings.

"The acquisition is in line with Kawan Food's corporate strategy of expanding and growing its operations, and diversification, as well as exploring and developing new segments of the industry, manufacturing a variety of products including plant-based products, etc, in chilled ambience, aside from frozen food. This business strategy will provide an opportunity for Kawan Food to create greater economic value and increase the earnings potential of the group," it added.

Barring any unforeseen circumstances, the land acquisition is expected to be completed by the last quarter of 2022. The acquisition is not expected to have any material effect on the group's gearing for the financial year ending Dec 31, 2022.
23/09/2022 7:35 PM
24/09/2022 1:48 PM
wallstreetrookie Land acquisition is nothing. The key factor is their resilient customer base.
24/09/2022 1:49 PM


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