Duty Free Intl

Duty Free International Limited, an investment holding company, trades in duty free merchandise under the Zon brand in Malaysia. The company wholesales, distributes, and retails duty free and non-dutiable merchandise, including imported duty free beverages, tobacco products, chocolates and confectionary products, perfumes, cosmetics, and souvenirs. It operates duty-free retail outlets/complexes and trading outlets located at various locations in airports, seaports, ferry terminals, border towns, and tourist destinations. Duty Free International Limited is also involved in the development of resorts; property investment and management activities; cultivation of oil palms; and sale of fresh oil palm fruit bunches. The company was founded in 1978 and is based in Singapore. Duty Free International Limited is a subsidiary of Atlan Holdings Bhd.


The share price has been falling off from the high of 44 cents to a low of 22 cents on 29 Mar 2018.Down 50%. Which is deemed as overly done. The selling down may be due to the pending court case for tax related matter. I think the total amount for the tax is about RM41m.For actual details pls refer to Sgx/company announcement . Looking through the announcement even if they have to include this tax amount their current cash-on-hand would be easily able to cover this tax amount. They have RM276.4m as reported on 9 mth financial results.


Looking through the Balance Sheets items: For one can notice the Current Assets has a total value of RM518.859 versus their Total Liabilities of RM107.513m. A Net Net position value of 4.83 times.

Their cash flow generation has been pretty healthy The average dividend for past years is about 1.8 cents . Which is giving a yield of 8.18% base on current price of 22 cents. As at to date the dividend being payout is 1.85 cents for first nine months . I think the company would be able to continue in paying out the dividend.. I am vested on this counter and would wait patiently wait for the announcement to be made known in the near future. Not a call to sell or buy. Pls do your own due diligence. (Trade/invest bas on your own decision)