One local news and the other a more significant news
Everyone would have notice that Giant marketing outreach on committing to everyday low price. Lower prices only means that Giant is working towards better buying which is super critical in supermarket retail.
The other news that most would have missed would be the news that Alibaba Group is taking control of China’s biggest hypermarket operator Sun Art. If Alibaba is taking over Sun Art, guess who will Tencent be taking over? China Resource is state-owned and the next in line is Yonghui which Tencent has a 5% stake in. The only way to get a significant stake in Yonghui is to purchase the stake from Dairy Farm.
We see these news as positive for Dairy Farm and so we are not so concern with the current drop in the share price.
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