NAME: Food Empire Holdings Limited
 SGX: F03
MARKET CAP: SGD 317.5 Million (As of 29 Sep 2017)
MARKET PRICE / SHARE: SGD 0.595 (As of 29 Sep 2017)
SECTOR: Consumer Products
INDUSTRY: Instant Beverage & Food Ingredient

COMPANY PROFILE (Excerpt from Company’s Website):

SGX Mainboard-listed Food Empire Holdings (Food Empire) is a global branding and manufacturing company in the food and beverage sector.

The Group has 24 offices (representative and liaison) worldwide. The Group operates nine manufacturing facilities in India, Malaysia, Myanmar, Russia, Ukraine and Vietnam.

Food Empire’s products include:

A wide variety of beverages like coffee mixes and cappuccinos, chocolate drinks &flavoured fruit teas. Instant breakfast cereal Potato crisps Assorted frozen convenience foods.

Without further ado, let’s jump into the analysis of Food Empire Holdings (FEH).

1) Business Model & Economic Moat

As a food manufacturer, the one thing that is of utmost importance is its branding.

MacCoffee – the Group’s flagship label – has been consistently