I initiated a position in Dairy Farm International a couple months back which I have written here. Today, I added to the position further by accumulating them at a price of $5.83 and then $5.79. The overall investment thesis remains the same as what I’ve written before and valuations remain more compelling in terms of purchasing, so it’s a straightforward decision to add more. Like I mentioned in the previous article, the company seems to be facing headwinds both on the internal and external front and the share price dropped accordingly to reflect that. On the external factors, we have the global slowdown particularly in China and a few emerging market, and the currency fluctuations against the strong USD did not help the cause. On the internal factors, we see margins compression in 3 out of the 4 divisions and this can be attributed to global slowdown, stronger ......