Food Empire Holdings Ltd: A Deep Dive into Growth and Prospects

Food Empire Holdings Ltd (FEH), a Singapore-based food and beverage company, has been strategically positioning itself for growth despite challenges in its key markets. As of FY24F, FEH’s projected revenue stands at US\$450.5 million, reflecting a 5.8% year-on-year increase. However, net profit is expected to decline by 18.5% year-on-year to US\$46.1 million due to foreign exchange impacts, rising coffee prices, and increased investment in Vietnam.

Vietnam has emerged as a pivotal market for FEH. The company is investing US\$80 million in a new freeze-dried soluble coffee manufacturing facility, expected to be operational by early FY28F. This move aims to diversify revenue streams and reduce dependency on Russia, which accounted for 37.3% of group revenue in FY22. Notably, Southeast Asia and South Asia have shown promising growth, with revenue increasing by 30.6% and 28.3% year-on-year, respectively, in 9M24. Analysts recommend an Add rating for FEH, citing a target price of S\$1.53, up from the previous S\$1.43.

Ajinomoto Co Inc: Steady Growth Amidst Challenges

Ajinomoto Co Inc (2802 JP), a Japanese food and beverage giant, has a market capitalization of US\$20,243 million. Its projected price-to-earnings (P/E) ratios for CY25F and CY26F are 26.1x and 24.7x, respectively. Despite a -29.6% three-year EPS CAGR, the company boasts a robust recurring ROE of 14.1% and a dividend yield of 1.5%. Ajinomoto continues to leverage its global footprint, ensuring steady growth amidst market fluctuations. The stock is not rated (NR).

Fraser & Neave Holdings: A Market Leader with Strong Fundamentals

Fraser & Neave Holdings (FNH MK) is a dominant player in the food and beverage sector with a market cap of US\$2,084 million. While specific P/E ratios and growth figures were not disclosed, the company demonstrates a recurring ROE of 15.6%. Analysts recommend an Add rating, reflecting confidence in its ability to deliver long-term value for investors.

Jumbo Group Limited: Navigating Growth Opportunities

Jumbo Group Limited (JUMBO SP), a Singapore-based food services company, has a market capitalization of US\$121 million and a P/E ratio of 10.7x for CY25F. The company’s recurring ROE stands at an impressive 23.4%, coupled with a dividend yield of 4.4%. Analysts recommend an Add rating, with a target price of S\$0.36, showcasing optimism about its growth trajectory.

Kimly Group: Consistent Performer in the Food Services Space

Kimly Group (KMLY SP) has a market cap of US\$295 million and a P/E ratio of 11.7x for CY25F. The company’s recurring ROE is 17.8%, and its dividend yield is 6.5%. Analysts recommend a Hold rating, with a target price of S\$0.34, indicating moderate upside potential.

Mayora Indah Tbk PT: Strong Regional Presence

Mayora Indah Tbk PT (MYOR IJ), an Indonesian food manufacturing company, boasts a market cap of US\$3,560 million. Its P/E ratios for CY25F and CY26F are 17.0x and 14.5x, respectively. With a recurring ROE of 19.6% and a dividend yield of 2.2%, Mayora Indah remains a strong regional player. The stock is not rated (NR).

Monde Nissin Corp: Innovation-Driven Growth

Monde Nissin Corp (MONDE P), based in the Philippines, has a market capitalization of US\$2,194 million. The company’s P/E ratios for CY25F and CY26F are 13.0x and 11.8x, respectively, with a recurring ROE of 16.1% and a dividend yield of 3.8%. Monde Nissin leverages innovation to drive growth in its product portfolio. The stock is not rated (NR).

Nestle (Malaysia): A Regional Giant with High ROE

Nestle (Malaysia) (NESZ MK) commands a market capitalization of US\$4,820 million. While specific growth and P/E metrics are unavailable, the company exhibits a stellar recurring ROE of 81.5%, reflecting its dominance in the regional market. Analysts have a Reduce rating, with a target price of S\$78.00, citing valuation concerns.

Nissin Foods Holdings Co Ltd: Balancing Growth with Challenges

Nissin Foods Holdings Co Ltd (2897 JP) has a market capitalization of US\$6,812 million. Its P/E ratios for CY25F and CY26F are 17.3x and 16.6x, respectively, despite a -33.8% three-year EPS CAGR. The company’s recurring ROE is 12.1%, with a dividend yield of 2.1%. The stock is not rated (NR).

Nongshim Co Ltd: Strong Fundamentals in the Korean Market

Nongshim Co Ltd (004370) is a South Korean food manufacturing company with a market capitalization of US\$1,436 million. Its P/E ratios for CY25F and CY26F are 11.8x and 10.8x, respectively, with a recurring ROE of 7.0% and a dividend yield of 1.6%. The stock is not rated (NR).

Power Root Bhd: Steady Growth in Beverage Manufacturing

Power Root Bhd (PWRT MK) has a market capitalization of US\$142 million. Its P/E ratios for CY25F and CY26F are 14.0x and 13.2x, respectively, with a recurring ROE of 13.1% and a dividend yield of 4.7%. Analysts recommend a Hold rating, with a target price of S\$1.45.

TAC Consumer PCL: High Efficiency and Strong Dividends

TAC Consumer PCL (TACC TB) has a market capitalization of US\$75 million, with P/E ratios for CY25F and CY26F at 9.9x and 9.3x, respectively. The company boasts a recurring ROE of 35.9% and a dividend yield of 8.9%. The stock is not rated (NR).

Thai Beverage: A Regional Leader with Solid Returns

Thai Beverage (THBEV SP) has a market capitalization of US\$9,922 million and a P/E ratio of 11.6x for CY25F. The company’s recurring ROE stands at 19.1%, complemented by a dividend yield of 4.7%. Analysts recommend an Add rating, with a target price of S\$0.58.