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FOOD EMPIRE HOLDINGS' proprietary brand MacCoffee has been valued at US$139.7 million.

Add in its other brands, and the value of all Food Empire's brands rises to US$174.8 million, based on the October 2013 results of a brand evaluation study conducted by international brand valuation consultants, Brand Finance Consultancy (Singapore).
 
Food Empire has a market cap of S$346 million, and a price-earnings ratio of 13X.

tanwangcheow180x200Tan Wang Cheow, executive chairman of Food Empire Holdings. NextInsight file photoBrand Finance previously conducted a valuation of the Kracks, MacCoffee, and Petrovskaya Sloboda brands in June 2007 and they were valued at US$119.0 million.

The value of these three brands increased to US$156.4 million, based on the October 2013 results.
 
Food Empire Holdings created MacCoffee in 1994, turning it into a household name for 3-in-1 instant coffee in the core markets of Russia, Eastern Europe and Central Asia.

MacCoffee’s valuation increased from US$110.1 million in 2007 to US$139.7 million in 2013.
 
This valuation study conducted by Brand Finance revealed key insights into how Food Empire’s intangible assets are performing on a global level. It validates the importance of intangibles and demonstrates the significant growth in global intangible value even in countries which have been dominated by the commoditised sectors.

Commenting on the results, Mr Tan Wang Cheow, the Executive Chairman of Food Empire, said: "We stay committed to building the brands under our portfolio, investing in advertisements, promotions, and sponsorships that keep our brands at the forefront of the consumer’s mind when making purchasing choices, and converting satisfied customers into loyal ones.”


Recent story: FOOD EMPIRE: Insights into its current transition phase -- and future
 



SOILBUILD REIT's annualised yield hits 8.1%

soilbuildreit_dpu10.13Soilbuild REIT is paying out a DPU of 0.760 cents for the period from its listing date to 30 Sept 2013. This is an increase of 3.0% over the forecast DPU of 0.738 cents. 
 
Mr Shane Hagan, CEO of Soilbuild REIT, said the higher payout was due to "most of the key drivers to the result performing better than expected. Revenue, property expenses and finance costs all recorded positive variances..” 

At the operating level, the REIT saw new take-up and lease renewals in Eightrium.

100% retention of leases expiring and space expansion by an existing Eightrium tenant pushed its occupancy up to 97.4% as at 30 September 2013 from 95.3% at IPO.

250_Shane-HaganShane Hagan, CEO of Soilbuild REIT. NextInsight file photoThe leases that were renewed achieved positive rental reversion of 7.9% over the preceding average rental rates.

Portfolio occupancy is now at 99.8% as at 30 Sept 2013 and there are no leases due for expiry for the rest of 2013. 
 
Soilbuild REIT’s conservative capital management policy has resulted in an all-in interest rate of 3.11% as at 30 September 2013 compared to the forecast of 3.28% in the Prospectus, with 75% of the interest rate exposure fixed through interest rate swaps. 
 
Aggregate leverage stood at 29.4% as at 30 September 2013, below the 29.9% forecast in the Prospectus. 

The REIT said it is well placed to deliver on the forecast set out in the Prospectus for the period from Listing Date to 31 December 2013.

No more lease expires in 2013, operating expenses remain tightly controlled, and interest costs are fixed for 75% of the REIT’s debt.
 
Its portfolio weighted average lease to expiry of about 3.9 years is in line with its peers. 


Recent story:  Kevin Scully: "Am adding Soilbuild Business Park Space REIT to my stock list"
 

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