Broker Name: CGS International
Date of Report: November 19, 2025
Excerpt from CGS International report.
Report Summary
- Food Empire Holdings Ltd (FEH), a Singapore-based food & beverage company, reported strong revenue growth in Russia, which became its largest revenue contributor in 9M25, driven by stable ruble, resumed distributor business, and price adjustments.
- Management is actively considering fund manager feedback on liquidity, dividends, buybacks, and M&A, while continuing expansion in South and Southeast Asia. The company won “Company of the Year” at The Edge Billion Dollar Club Awards 2025, and maintains an “Add” rating with a target price of S\$3.18, supported by expected robust EPS growth over FY26-27F.
Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website: https://www.cgs-cimb.com
