I managed to purchase 1,000 shares of Dairy Farm International at a price of USD 6.05 this morning. I had initially queued for 2,000 shares but it was only partially filled. Oh well, maybe another half the shares for another time perhaps.
This was a company with a very resilient earnings and defensive nature of its business in all economic cycles. As it turns out which I will show you later, the slowdown in the emerging market does play a factor in the plunge in the share price this year.
Dairy Farm is a conglomerate leading pan-Asian retailer which operates in supermarkets, hypermarkets, convenience stores, health and beauty stores and home furnishing stores under some of the world well known brands that most people would have heard of, Cold Storage, 7-eleven, Ikea, Maxims, etc.
Emerging Market Slowdown
The steep plunge in the share price this …