公司简介
Oriental Food Industries Sdn Bhd was established and incorporated in 1978. From our modest beginnings, we have made our mark in the food manufacturing industry today holding the leading position in the snack food and confectionery industry in Malaysia.
In a crowded marketplace, we remain focused on placing the needs and interests of our customers’ first by manufacturing products that focuses on quality.
We believe that the key focus for success in this business depends on product quality, product range, research and development, a highly quality workforce right from top management to the operator level, sound marketing strategy, effective sales and advertising policies, competitive pricing, good domestic and international distribution network and most importantly the commitment to excellence in all aspects of the company business, all of which are being implemented and practiced in our organization.
Oriental Products
Generally our products can be divided into four (4) broad categories, which are snack food, wafer, potato snacks and bakery products.
We have various product brand names, most of which are commercially strong and generating the required sales and profit. To name a few, our product brand names like Rota, Super Ring, Jacker and Oriental are well-known household brand names in Malaysia.
Jacker Potato Chips Head Office and Manufacturing Plants
Our manufacturing plants are located in Air Keroh Industrial Estate in Malacca, which is well recognized as Malacca’s industrial hub, covering approximately 15 acres of prime industrial property. For operations purposes we have distinguished the plants by identifying them as Factory 1, 2, 3 and 4.
Our headquarters and administration centre is an independent double storey building located at Factory 4, the largest of all the plants with considerable room for our ongoing expansion plans.
Quality Control & Certifications
We have obtained several certifications in line with our quest for optimum quality control procedures, namely MS ISO 9001:2008 and HACCP. We are also certified by the Malacca State Islamic Department as a manufacturer of 'Halal' products. We seek to continue to improve its product quality to keep up with the ever-demanding international health standards. At present, we are in the process of obtaining the ISO:22000 certification for the production of potato crisps, wafer rice crisps and confectioneries.
In addition to the above, we adhere to stringent quality control standards to maintain the use of high quality products right from raw materials stage to the production of finished products. Every delivery or consignment of raw materials such as sugar, flour, potatoes, flavouring have undergone prior sampling, tested and only the finest raw materials and ingredients are being selected. Apart from quality control, we also believe in the exercise of stringent control on hygiene.
In ensuring quality and hygiene of the food products, we have established an effective and efficient quality assurance system to cover all aspects of hygiene, contact review, production process and testing line.
Apart from the above, all ingredients used are in accordance to set recipes and are measured by trained staff, with periodic checks made by both the quality control personnel and production supervisors to ensure minimal errors.
Research & DevelopmentResearch & Development
As part of Oriental Food Industries Sdn Bhd's marketing and quality control practices, we invest substantially into research and development (R&D). We recognise the need to keep pace with market demands and consumers’ taste.
As such, our laboratory undertakes ongoing research to enhance the flavour of existing products and creating new product ranges to cater to an increasingly sophisticated consumer market.
The R&D team which comprising of the top management personnel, engages in various research methods to improve the production processes, thereby reducing cost and wastage while increasing productivity and maintaining standards.
The Scope of research and development includes the use of new packaging materials to improve shelf life and enticing packaging to appeal to a wider scope of consumers.
Innovations
In a highly competitive and saturated market and in order to have a distinct edge over competitions, the company keeps abreast with the latest technical developments and manufacturing processes using modern machinery for the increase in productivity and efficiency. The key is to constantly innovate and continually improve ourselves in order to sustain our position in this industry.
Marketing
Our overseas business is an important engine for our continued growth.
In line with our aggressive global marketing plans, our products are being distributed throughout the world with the number of international distributors expected to increase substantially.
策略性分析
续之前每周一股的分享，目前大部分避险股项依然持续被基金经理追捧推高，然而近期的股市更是越战越勇，就连2/3线高股息股也受到追捧。至于目前马股的趋势大致上都属于轮流炒作的迹象，在酱的情况下我们必须特别谨慎，毕竟指数高举不下，更是成功突破1600点强大阻力线，必要时要以稳中求胜作为投资策略。
近期的逼险意愿很浓厚，因而导致高息股可说是越战越勇，然而一些2/3线高股息也开始受关注，尤其是消费版股项。如果仔细的参考，可以发现到高息消费股正处于轮流炒作，例如 ：从稳定性最高的版种NESTLE, DLADY, BAT, JTINTER, F&N, AMWAY, GAB, CARLSBERG，到二线版种的 AJI,MAMEE, YHS, ZHULIAN。然而一些三线版种的如 APPOLO, HUPSENG, PWROOT 也开始受到追捧，由此可见拥有高基本面支撑的OFI肯定有机可乘。
基本面分析
去年食品工業的命运可说是可喜又可悲，原料成本不断升高，再加上马币兑换美元节节攀高，因而导致利润不大如前，还好高增幅销售抵消。当中公司將外銷版圖從歐洲轉向亞洲，並集中火力開發中國市場，以享受零關稅，冀提高海外貢獻比重至60%。該公司執行董事孫棟樑曾经接受《中國報》訪問時說，公司以往較關注歐洲市場，惟后來發現無法在當地享有價格優勢，運輸成本和開支偏高，以致產品售價比當地貴許多。然而现阶段公司強化產品品牌，并開始把重心放在亞洲市場，亞洲有足夠的人口供東方食品工業發展，毕竟零食發展是講求人口，中國將是最佳的進軍地點，加上該國免征關稅，使更具吸引力。
中國在一胎的政策下，消費能力漸攀高，很多消費者傾向進口品牌，有利東方食品工業此時將產品推進該市場。目前，東方食品工業的出口市場超過40個，遍佈美洲、非洲、歐洲、西亞、亞洲及澳大拉西亞。然而東方食品工業在歐洲的市場，僅剩英國。亞洲方面則有孟加拉、汶萊、中國、柬埔寨、香港、印度、日本、印尼、緬甸、尼泊爾、台灣、泰國及越南。
東方食品工業的出口佔公司總營業額約50%，其余來自國內市場，在連串海外市場分額掠取的計劃下，未來數年內矢將比重推高到60%至65%。行事向來低調的東方食品，成立于70年代末，共生產60至70種產品，種類包括薯片、威化餅、膨化食品、糕點及洋芋片。品牌包括Jacker、Super、Ring、ROTA和Oriental等。
令吉兌美元的走勢对公司而言最为关注。然而近期马币走弱对公司出口极为有利，相信接下来的盈利表现很较为出色，唯一美中不足的是東方食品工業約90%原料在大馬採購，10%購自海外，特別是馬鈴薯。
公司近五年ROE都介于10%左右，股息派发比率介于盈利的35 ~50%之间，DY介于5%PA左右，公司股息政策设定在35%。由于近期受到马币兑换美元走弱，再加上产业的盈利贡献，因而导致公司在上一季的业绩表现大有改善。假设接下来汇率能够保持现况，预计未来的盈利或ROE将获得改善。股票流通量就相对比较逊色，100% - 81.73%（30大股东） = （流通量股票）18.27% X 60,000,000股 = 10,962,000股。
SEGMENT REPORT
销售分析
“销售”出口网络分析
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成本控制分析
GROUP CORPORATE STRUCTURE
公司产品
技术分析
股价支撑点在1.63 ~ 1.65之间，发现到股价成功突破阻力线，并逐步形成上升趋势，但是成交量并没有跟进，这点必须多加留意，可能会发生假突破的可能性。从技术的角度来做出判断，只要股价成功守得住1.63 ~ 1.65的支撑，相信股价很大机率会继续向上攀升。
建议：
在1.63 ~ 1.65左右作为短期的切入点，如果股价继续上升不妨考虑微量再加码。
投资买点 ：
- 股价成功突破，而技术上已经显示买入讯号。
- 由于近期马币兑换美元走弱，预计公司利润或业绩将获得改善。
- 技术分析1.63 ~ 1.65之间拥有很大的买盘支撑，而且预计8月会宣布4 ~ 5仙的股息或相等于DY5%PA左右，由此相信胜算很高。
- 消费版股项是目前最受投资者青睐的避险工具之一，尤其是股息高于5%P.A的股项。
- 近期2/3线高股息股也受到追捧，然而被炒家看上的机会大大提升。
- 拥有高现金，每股高达26仙，更是零负债，相对投资风险极低。
投资风险 ：
- 目前股市处于资金行情，而不是基本面的支撑，然而必须多加留意资金的变动。
- 缺乏VALUE SHAREHOLDER，如：信托基金。
- 政治因素，毕竟随时大选。
风险管理评估报告 ~ 1 STAR为最低 5 STAR为最高
管理层素质 ：4.0 STAR
管理层诚信 ：3.5 STAR
公司透明度 ：3.5 STAR
公司派息能力 ：4.0 STAR
公司业务成长潜能 ：4.0 STAR
投资风险 ：1.0 STAR
整体投资胜算 ：4.0 STAR
注：以上分享纯粹个人意见，买卖自负盈亏，而且本身拥有股权，所以绝对有利益冲突。
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