On current price 2.74
Technical
It have side way for a period after last QR was unfavorable.
from the chart below can see the price movement is risky as there could be drop back to original pricing based on symmetry concept.
Fundamental
On fundamental the PE is 20.18 ; DY 3.65% ; EPS 14 cents.
as PE 20 is consider not cheap currently and would require about 20% growth in revenue or EPS to support this pricing otherwise high chance it would drop back as original which is around 2.
On the annual report market coffee for oldwtown in Msia have increase, HK remain same, Singapore decrease. Msia retails market still weak. unlikely can growth further more.
Based on AGM review the group is still performing well, double digit growth. but the prospect remain positive even thou the environment is challenging.
however, from chart it reflect that the pricing is waiting for the next QR to decide wither move up or down no direction till next QR is release. i suppose.
Action
To observe on next quater 2017Q3 nov 17 on the Q3 results if recover or maintain.
if price drop below 2.7 into 2 shall consider start accumulate. or PE ~ 15.
AGM MOM
旧街场（OLDTOWN）活动：股东大会日期：9月7日（星期四）时间：上午10时30分地点：怡保M Root酒店
●业务焦点：
旧街场（OLDTOWN,5201,主板贸服组）的发展策略集中在加强品牌与业务成长，维持“旧街场”为大马与区域市场首要的“咖啡连锁店”。
该公司足迹除了区域市场，也包括国际市场，扩充国际业务，有助提高专营权收费收入，协助维持集团的食品与饮料业务。
集团扩展业务至中国和探讨印度支那市场，为中期内的首要发展市场，包括在香港开设展卖店，重新进入中国市场，同时，已签署开发缅甸、中国福建省市场的协议。
不过，在国内市场，集团首两季无法达到预期业绩，消费基本面疲弱、关闭一些展销店，是主要的不利因素。
●年报摘要：
在已结束的财政年，集团取得4亿2520万令吉营业额，上扬8.1%，净利6000万令吉，增加770万令吉或14.7%。
快速消费品（FMCG）领域成长，加强旧街场品牌、转型产品组合、扩大网上与非网上分销店。
尽管市场竞争严峻，该集团的饮料生产组继续强劲成长，不论是营业额和净利皆是，而且是双位数成长，网上销量推高快速消费品领域的业绩。
在国内市场，旧街场白咖啡仍是大马白咖啡市场的第一品牌，不过，本地市场保持偏弱，2016下半年经济形势、消费信心偏低是主要不利因素，第四季财务表现，受到较高生产成本与促销宣传费的冲击。
集团是在一个高度竞争的市场生产饮料，这市场包括全球、亚太区域与本地，就是集团促销产品的市场。
品牌定位与产品质量，协助建立大马、新加坡和香港市场地位，在维持公司市场定位的同时，专注产品质量、进一步了解消费者的看法，引进新产品与革新方案，迎合消费者需求。
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