Banker is keep short selling 2-3mth gao gao, break all major support drop until 26.1..... Banker at this area keep slowly collect ticket，i observe DL almost 6mth, I follow the banker too...
DL have chance, potential get good QR result in the future...

DL main cost structure is milk powder, food packaging, energy & transportiom cost, mgmt & labor cost
*Milk powder SMP/WMP 55-60%
*Packaging 15-20%
*energy & transportation 10-15%
*mgmt & labor cost 10%

# SMP/WMP from usd3600 drop until around usd2560, dairy price keep droping
# paper & crude oil at low price range
# new factory with solar system mitigate the electricity cost
# iR4.0 with around 400 workers cost labor with minimal impact
# US FED cut rate weak usd 4.13

Even hedge again the currency, the future input cost is keep reducing

Normal dutch lady milk powder is import from Indonesia,
rupiah/usd is weak, Myr/usd is strengthen so input cost reduce significant

Friscolac milk powder is import from Netherlands Holland

DL last 5-7yrs really on bad luck since 2019-2023,
-after 2019 weak ringgit
-covid, MCO, unstable govt, MYR currency drop
-2021 start build new factory at bandar enstek, high one off cost& depreciation
-cost of skim milk powder increase

Turning point is Mr Trump win election, everyday ask J. Powell cut rate, tariff, weak usd
Investment shld be focus on import oriented companies

DL is return of the king, slowly recovery profit margin, generate cash flow and future declare high dividend

Yes been waiting for so long.

Yes earning is recovering and growing , but market will only give higher PE when the dividend payout ratio is increased back to earlier years.

Still have to wait the music of high growing stock to tune down

Dutch Lady

“Favourable exchange rate movement supported margin improvement.”

This means MYR strengthened vs USD, lowering USD-denominated input costs.

This directly helped their Q3 profit surge (+86% YoY).

Given USD/MYR trends:

July 2025 average: ~4.32

August 2025 average: ~4.27

September 2025 average: ~4.19

The Q3 effective FX exposure was around RM 4.20–4.30 per USD.

If USD/MYR stays at 4.13, Dutch Lady’s profit will increase significantly:

+RM 6 million per quarter profit before tax
+RM 4.6 million net profit
+1.2% higher net margin
+18% quarter-over-quarter profit boost

This assumes:

constant sales volume
stable dairy raw material prices
no hedging losses offsetting the gain

Baseline (reference)
• USD/MYR previously ≈ 4.27
• USD-linked costs per quarter ≈ RM 181.2 million
• Current Net Profit (PAT) ≈ RM 25.0 million
• Tax rate = 24%

SCENARIO A — USD/MYR = 4.10
New Profit
New PBT = 32.9m + 7.25m = 40.15m
New PAT = 25.0m + 5.51m = 30.51m
Cost savings RM 7.25m
Net Profit increase RM 5.5m
Profit growth +22%

SCENARIO B — USD/MYR = 4.05
New Profit
New PBT = 42.23m
New PAT = 32.09m
Cost savings RM 9.33m
Net Profit increase RM 7.1m
Profit growth +28%

SCENARIO C — USD/MYR = 4.00
New Profit
New PBT = 44.35m
New PAT = 33.70m
Cost savings RM 11.45m
Net Profit increase RM 8.7m
Profit growth +35%