Delfi Ltd - Formation of new strategy committee bodes well
- Delfi Ltd had earlier in the year announced the appointment of former Nestlé S.A. executive board member, Mr Doreswamy Nandkishore, as an Independent Director.
- Mr Nandkishore brings with him 35 years of global experience in branded consumer packaged goods, across both emerging and developed global markets.
- Delfi's current key markets are Indonesia and Philippines, where about 70% of revenue comes from the former.
- As Delfi seeks to expand regionally, the group believes Mr Nandkishore's experience can "greatly benefit" them. In addition, he will also chair a newly formed Market Sustainability and Strategy Committee, which aims to assist the Board in identifying the opportunities for the Group’s market strategies as well as to understand and identify the potential impact of any emerging or evolving trends on the Group’s future development.
- Meanwhile, OCBC Treasury Research continues to see a steady pace of growth pick-up for Indonesia. We maintain HOLD on the stock with a S$2.39 fair value estimate.