SINGAPORE (May 24): RHB Research likes Fraser & Neave even though the operating environment is tough for its beverage and print business.
“We think there is value in the stock, given that the share price is trading 13% below its $1.96 NAV/share,” says RHB analyst Juliana Cai in a May 23 unrated report.
F&N’s profit is largely helmed by its dairy business, as well as a 20% stake in Vinamilk. It also holds a 55% of F&N Holdings (FNH), in addition to its printing & publishing business.
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