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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
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Happy "Death" Anniversary 07.07.24 ?

The last time I penned a post on my anniversary was in July 2021. As a reminder, I started the blog on 07.07.07

Perhaps it was a sign of things since then, experiencing the slow and painful death on SGX over the last 3 years.



In many countries, the local stock exchanges are supported by government related entities or funds, well, not happening here (see article).

Many have called for action to jump start the stock market, including one from SIAS. The newspapers have also tried to talk up some of the stocks in its commentary but any interest in the featured stocks had rather short-lived.

If I can summarise the state of our stock market - don't bother to list here if you are not a bank or REIT. Even REITs are now challenged.   

So here I am, penning the obituary of my own blog with the article in the Straits Times acting as the final nail in the coffin. ðŸ¤•

I would really urge all the stakeholders to think about how to revive our dire market and time really to get the act together. Could we have done differently and take advantage of the geopolitical tensions to attract Shein to list (or dual list) here instead of London. 
We need some marquee listing to revive our markets and we need global fund managers to set up shops here instead of going to Dubai.

Time for MOF, MAS, IRAS, SGX, GIC, Temasek, Abrn, Blackrock to form a task force? Maybe they might send me an invite to chair the committee? ðŸ˜… SOS.... SOS.... SOS... time to Save Our SGX... 
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