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IPO Chilli Ratings

IPO Chilli Ratings
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Food Innovators Holding Limited

Food Innovators Holdings Limited ("FIH" or the "Company") is offering 14m shares at $0.22 each, for which 13m shares will be through placement and the remaining 1m shares via a Public Offer. The IPO will close on 14 Nov at 12 noon and starts trading on 16 Oct 9am.  FIH has two business models - the first is to be a master lease and sublease the space to other tenants and the second is to operate and manage restaurants.  The Company currently has 12 restaurants in Japan, 10 in Singapore and 4 in Malaysia. The market cap based on the IPO price is around $24.9m. Financial Highlights FIH's revenue grew from $37.8m in FY2022 to $43.8m in FY2024. It is quite funny to see that being a master land lease holder has a higher margin than operating the restaurants, once again illustrating the point that it is better to be a landlord to shake leg and collect rent. According to the prospectus, the PER is around 19x. The Company intends to pay 20% of its net profit after tax a

Happy Chinese New Year


The year of the Earth Pig came and went. The lessons and sharing from my last post still holds true where i said 


You can revisit the post here.

2020 is start of a new decade and it coincides with the year of the Rat, which is the first animal in the zodiac world. Other than Mickey Mouse, Stuart Little, Ratatouille, most of the time, rats have a negative connotation, especially in Chinese idioms. 猫哭老鼠,蛇鼠一窝,胆小如鼠

So what can i share with you for the year of the Golden Rat? Let me share with you two "mouse" stories.

Be kind and goodness will follow - As you progress through life, always be kind. Be kind to your family, friends and colleagues.  Never burn bridges and always be kind. People will remember your kindness and it will bring you happiness. In the story of the "mouse and the lion", the Lion was "kind" to the mouse (by not eating it) and he repaid it by saving him in future. Perhaps in real life, always be kind to your colleagues and subordinates. One day, they might become your boss and "pull you along".

Don't procrastinate - Start small and it has the potential to become something big one day 


Walt Disney became what it is today by starting small and it started from a mouse named Mickey. Walter Disney probably didn't realise that this little mouse was going to create the happiest place on earth one day! So the least i can do is to encourage you to start small. Save a little, invest a little and one day, before you know it, it will become something substantial and meaningful.



Lastly, be alert as the mouse. We are in the longest bull run ever, fueled by low interest rate and cheap money. Will the musical chair stop and when will it stop? 
Your guess is as good as mine. Stay alert and be nimble as the mouse as a market crash may be nearer than you think. It will happen when no one is expecting it.

Happy year of the golden rat and 新年快乐,身体健康,万事如意!Stay Healthy as that is even more precious that gold!

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