Duty Free International

About Duty Free International

Duty Free International (DFI) is one of the largest local duty-free retailing group in Malaysia, with strategic presence at all leading entry and exit points in Peninsular Malaysia, including airports, seaport, downtown, border towns and popular tourist destinations. The Group currently operates over 40 outlets comprising duty-free retail outlets and duty paid retail outlets located at various locations throughout Peninsular Malaysia. 

3QFY20 Results Announcement
Wednesday, 9 Jan (Est)

Investment Merits
  • One of the largest duty free trading group in Malaysia
  • Highly cashflow generative business
  • 9.9% dividend yield based on FY19 DPS of S$0.018 (and share price of S$0.181)
  • Bukit Kayu Hitam (Black Forest Golf and Country Club)- hidden jewel with huge development potential
Stock Information
Price 0.181
Market Cap (SGDm) 218
YE 02/2020
Earnings Release Date (Est) 09/01/2020
52 wk high/low 0.220/0.175
YTD % change -8%
Free Float % 25%
Insiders Holding 75%
Key financial highlights
Key Highlights 2017 2018 2019
Revenue (RM m) 633 612 556
Net Profit (RM m) 73 42 47
P/E 9.0 15.7 14.1
Ex-cash P/E 5.4 7.1 8.0
P/B 1.2 1.1 1.2
Return on Equity 15.5% 7.5% 8.2%
Net D/E -48.0% -59.5% -49.8%
Est Dividend Yield 13.8% 10.2% 9.9%
Source: Bloomberg (Based on share price of S$0.181)

Risks

Regulatory Changes, Fluctuations in foreign exchange rates, Malaysia political risks and economic growth