# TFL - TasFoods Limited



## pussycat2005 (23 February 2007)

The following explains todays massive buying interest:



> Investment aces back Oncard
> By Alan Kohler
> 
> 
> ...


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## j4mesa (23 February 2007)

*Re: onc*

Nice PICK !!!!
Interesting.........for investor not traders, I would say......
Solid fundamentals especially their market is in China.......
I am bullish with something in regards to China customer discretion shares......


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## dubiousinfo (23 February 2007)

*Re: ONC - Oncard*

Up again today on volume of 3mil.

It's currently showing as Cum Entitlement, however, the Chairman has confirmed that this is an error as there is no current entitlement.


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## j4mesa (23 February 2007)

*Re: ONC - Oncard*

Hi Pussycat,

do you mind showing me the link of to the report you mentioned ?

Thank u in advance............


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## dubiousinfo (26 February 2007)

*Re: ONC - Oncard*

This seems to be running hard again today, up 34% on volume of 1.2m


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## j4mesa (26 February 2007)

*Re: ONC - Oncard*

seems that only couple of poeple interested in this share.......in ASF


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## pussycat2005 (26 February 2007)

*Re: ONC - Oncard*

From Fig Jam's Ferret post


Around the Traps ... with THE FERRET
08:28, Monday, February 26, 2007

Sydney - Monday - February 26: (RWE Australian Business News) -
******************************

That ONCARD INTERNATIONAL (ONC) is an intriguing stock.

On Friday we wrote about how it had soared 23c to 44c before
closing at 37c on Thursday on huge trading of 9.5 million shares (out of
a total 137 million).

We thought it may have been due to a Corporate Presentation by
the company which had been posted on the ASX news site well after the
close of trading Wednesday night ... with bullet points such as ...
revenue increasing, cash-flow very strong, in line for profit in first
year ... etc.

However, on Friday we also learnt that an internet investment
newsletter had written the stock up in the most glowing of terms.

We don't quite know when it was written but the newsletter said
the shares "last sold at 21.5c".

Well the last time they last sold at 21.5c was last Tuesday and
the stock fell to 21c on Wednesday, which would seem to indicate that
the newsletter may not have caused the rush.

On Friday the stock rose again to touch 44.5c and closed at 41c
as a further 5.8 million shares changed hands.

A near 100 per cent rise in two days on turnover representing a
huge percentage of the general shareholding must have raised a few
eyebrows.

A joint venture between Peter Scanlon's Brencorp and a Hong
Kong-based investment bank is the cornerstone investor in Oncard with 40
per cent while Richard Pratt's family's Thorney Investments and James
Packer's CPH are also big investors.

Hang on, did they say Pratt and Packer?


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## j4mesa (22 June 2007)

*Re: ONC - Oncard*

Some food for thought:
direct link: http://www.theaustralian.news.com.au/story/0,20867,21946627-5001641,00.html

Scanlon and friends target Chinese financial services

    * Billionaires Richard Pratt and James Packer may be part of the FCPB Investments plan writes Matthew Stevens
    * June 22, 2007

MELBOURNE financial mandarin Peter Scanlon seems to have staked out his slice of China's economic boom by collecting the building blocks for a pan-Asian financial services infrastructure provider.

And Scanlon is not taking the plunge in the Asian payments system by himself. Billionaire and old mate Richard Pratt, and the currently otherwise-engaged James Packer also appear to be tagging along for the ride.

Through a joint venture between his private investment company, Brencorp Group, and Chinese M&A specialists, First Capital Partners, Scanlon yesterday delivered an offer to take control and recapitalise Oriel Communications Ltd.

Under the Scanlon plan, Oriel would be re-badged as FCPB Investments, and with the addition of between $100 to $200 million of new capital, it would become the primary platform for Asian expansion for FCP Brencorp.

The Asian opportunity defined for the new company, which would be 75 per cent owned by FCP Brencorp, is financial services, logistics and transportation and retail and leisure.

The Oriel we currently know is a fledgling internet payments system business, which has started making a little fist in China through an internet settlement business called BilltoBill.

Oriel's biggest coup so far has been signing up Cathay's Dragonair, a deal that required the rollout of a payment service to 20 Chinese cities.

But the Brencorp plan would profoundly change the China game for Oriel shareholders.

Scanlon is a major shareholder in two other financial infrastructure providers that have bet on China as a generator of growth.

They are Customers Ltd, Australia's second-largest owner of ATMs, and OnCard International, which is the dominant player in reward and payment card programs in the Chinese market.

Pratt's Thorney Holdings is also a declarable shareholder in both companies, while the even bigger billionaire, James Packer, is a major owner of OnCard. Neither Packer nor Pratt has an interest in Oriel though it is understood both may take a slice of FCP Brencorp's action.

It is very easy to see how these three Chinese foundations can be aligned into an integrated financial services strategy.

Indeed, FCP Brencorp is already the joint venture partner for Customers' plans for an ATM rollout in China. Under that deal, FCP Brencorp is paying all the initial costs of Customers Asia to earn it a half-share of that joint venture.

Customers has plans to create a significant Chinese base as part of am ambitious strategy to build and operate an Asian regional ATM payments system over the next five years, which will include the installation of up to 40,000 machines.

Over that same period, OnCard has plans to issue 10 million pre-paid and rewards cards across 10 Asian countries. OnCard has one of three licences to issue pre-paid cards in Shanghai, and can also issue them in Nanjing.

The potential of Scanlon's plan was revealed in Oriel's statement to the ASX yesterday. The target noted that FCP Brencorp would deliver "strategic benefits through its network and a number of related investments in the payments sector, such as OnCard and Customers".

Just how that might be achieved is anyone's guess, but takeovers of one or both cannot be out of the question. Scanlon's proposal for Oriel, meanwhile, ends a two-year search for new capital by chairman Stephen Lucas, who has long worried that once-in-a-lifetime opportunities in China were being missed for want of funding.

Through that time Lucas has watched a succession of potential investment angels come, and then leave, without taking the bait. Then, in May, Brencorp and First Capital came knocking.

BENDIGO BANK may well be the corporate pin-up of Victoria's regional cities, a veritable fifth pillar. Untouchable. But it seems to have an awful lot to learn about continuous disclosure.

It seems to me that the wrong bank announced yesterday that the latest secret negotiations over Bendigo Bank's future had ended.

At 3.19pm yesterday the now twice-spurned suitor, Bank of Queensland, was left to inform Bendigo's shareholders that a second, all-cash alternative had been rejected by Rob Hunt & Co at Bendigo.

Just on two hours later, Bendigo popped out a confirmation of the news. Clearly, it had been prepared to let this little matter slip by unannounced. Apparently there was some confusion over whether or not the revised, increased and rejected second offer was confidential or not.

Certainly though it was too confidential to rate any sort of mention by chief operating officer Mike Hirst in his briefing of UBS clients yesterday.

Now Bendigo has to be kidding, surely? After the hullabaloo over the rejected first offer, could the bank's board really believe that the rejection of a revised proposal was not material to the market?

As it is, the market continues to be dreadfully uninformed as to the nature of BoQ's second offer, and why it was considered not good enough.


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## Miner (13 August 2007)

*Re: ONC - Oncard*

Please read Eureka Report of 13 August where Alan Kohler admitted that the price of ONC got halved and he also lost money in this share.
A big share holder shed its holding only aweek back.
Probably the future of ONC is doom . It is like we played well but lost the game.

Regards


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## Lachlan6 (4 September 2007)

*Re: ONC - Oncard*

Agree (ONC) is looking very promising for a spekkie bet and I am considering getting on board today for a long term buy. The chart is looking strong after the recent downward movement in price between the trend channel since May this year. Note the very small volume on this downward move, which suggests to me that the weak hands were happy to take profits whereas those with the smart money are staying in. A resistance zone has appeared between previous support at $0.33 and the 50% retracement level from all time highs/lows, currently at $0.355. If it can breach this latter level convincingly I will jump aboard this.


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## Miner (11 October 2007)

*Re: ONC - Oncard*

Hi Lachlan 6

Any update on your research considering oNC is going to raise $30 M including $5000 each preferential for share holders?
It is rather a large money considering such a low share performance.

Looking for any update in addition to what has been posted in ASX today from others as well.
Is it worth to investment through public and right issue?
Yes I hold a small parcel bought at 35 cents !

Regards

Miner


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## dastrix (20 December 2007)

*Re: ONC - Oncard*

Anyone watching ONC? Seems like a fairly financially sound company with the their card numbers increasing alot.. Not much profit increase from 06 to 07 though?


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## irondragon (20 December 2007)

*Re: ONC - Oncard*

ONC has no debt. Is at the start of a long growth phase. Is way ahead of their initial 5 year plan targets. Great position to be in considering current world market volatility. According to the last annual report is making profit and has built a solid platform from which to grow. 

Highlights from recent announcements include:

Outlook | 2008+
 New projects for 2008 onwards:
 Additional prepaid gift card platforms.
 T&E Card concepts.
 Prepaid card partnership possibilities in Thailand and Vietnam.
 Launch loyalty reward based programmes in China.
 Expansion of hotel loyalty platforms.
 Beijing All Payments Co JV with CHIBO.
 Entry into China EFTPOS network.

The primary strategy for the last financial year was to build our infrastructure across Asia and define our market position as a leading manager and issuer of loyalty, reward and payment programmes. The focus for this financial year will be to add new product services and develop partner opportunities to further grow revenue and card numbers across the region.
With these solid foundations in place and a strong pipeline of acquisitions and card related opportunities under development, OnCard is well on the way to building a world-class loyalty, rewards and payments network across Asia Pacific that can deliver superior services to its customers and strong ongoing returns for its shareholders. Peter Abotomey


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## kingbrown (2 June 2008)

*Re: ONC - Oncard*

Is any one on this forum following Oncard ?

The share price has been stuck in a bit of a rutt since the last stock jitters early in the year 

Apparently they are into profit now and have exceeded their own expectations in card sales in China ?

Alan Kohler stated it was a good bet 
With Packer Scanlon and Pratt in there 
He also stated he was going to buy for his superfund ?

*PORTFOLIO POINT: Oncard’s cash card numbers are exploding in China. It’s a hot business investors are yet to discover
see link *http://www.eurekareport.com.au/iis/iis.nsf/ak/RHP38z?opendocument

Any thoughts would be a help 
ONC last traded at .18 
Turnover appears to be just starting to pick up


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## Bobcat (2 July 2008)

*Re: ONC - Oncard*

I bought back when Alan Kohler was giving ONC a big rap for 0.42 c. Has closed today 0.16c.

Latest announcement (23/6/08) said there are now over 14m cards in operation and

 "Less than 3 years after an initial investment of US$1 million, Shanghai Smart Service Co Ltd has paid a dividend back to OnCard of A$1.53 million". 

I am just hoping the olympics may have a positive affect on share price.


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## kingbrown (3 July 2008)

*Re: ONC - Oncard*

Hope so Bobcat 
Thought i did well getting in at .20  

Now looking to bail out close to that figure 
Just appears to be no buyers about just a few cross trades.   

I know a bloke who called them up 2 weeks ago 
Just to see if they were still there ??
some one answered the phone so i guess they are still trading


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## dizzy (1 August 2008)

*Re: ONC - Oncard*

New announcement today (1st August) - Shareholder Report for Quarter ended 30/6/08.

Pretty brief. Does give new total for cards on issue as 17M (up from 14M last quarter), so I guess that is good.

I also bought when price was high, have since averaged down to 26.5cents.

Last sale was at 14cents - hardly any trading of the shares recently.

Hoping we get some action soon


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## dizzy (21 October 2008)

*Re: ONC - Oncard*

Strong Cash Levels:

In an three-page article for the Eureka Report on Oct 15th, Richard Campbell, the executive director of Peninsula Capital Management, looked at various companies with high cash levels. 

Here is what the said about Oncard:

"Another well-funded micro cap is Oncard, with $15 million cash and a market cap of $33–35 million. Oncard’s business is cash cards, with the focus on Asia and particularly China where a joint venture operation is represented in about 40 large cities. Staff numbers in China, Hong Kong, Malaysia and Singapore are about 400 and it boasts 7000 merchant and corporate issuers of cards, a current 16 million cards and an aggregate float of more than $100 million. 

The cards are variously used as loyalty, rewards, gift and payment cards, with corporate an almost equally branding part of the service. It helps greatly that Asian countries are tending to leapfrog the cheque system, not only because it is expensive and prone to fraud, but basically no longer necessary now that internet payment systems work well. 

China’s fringe benefit concession on salaries is a key driver as well. Up to 14% of salaries can be paid tax-free to the employee. A tax invoice traces usage. As well as earning interest on the float of advanced funds and the merchant fee, Oncard also had the right to retain unspent amounts after a period. As the card base grows – already matching Australia’s card base – even the residuals will be significant. 

Again, this can’t be described as simply a cash box. It has formed a joint venture with a technical subsidiary of the Bank of China. This company, Beijing All-Payments, is planning a national electronic payments and settlement system.

Oncard intends to leverage its position more broadly into a pan-Asian card and payments system. 

Profit rose sharply to June as momentum gathered pace. Earnings were just shy of 2 ¢ a share at 1.9 ¢ for a multiple of less than 8. Growth in the current year is unlikely to equal the early ramp-up 127% of 2008 but is expected to be solid. 

About $4 million of the cash held is in Yuan and US dollar-linked currencies, so in the past two weeks it has gained a notional 20% in value. 

Excluding the $100 million-plus float, Oncard’s cap/cash ratio is a strong 1.6:1."


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## jinx888 (14 June 2009)

*Re: ONC - Oncard*

Ive been following this stock for 3 years  But been expensive for most of the time, finally got in with average price of last month 13 cents. Good luck guys i expect this stock to be very promising. The acquisition of BilltoBill was a great asset that was underpaid in my opinion. But then again companies are related anyway. I would give this one a 3 yr time frame tho. Can't wait till i analyze th next FR. Should be interesting.


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## robusta (15 November 2012)

*Re: ONC - Oncard*

Just had a look at this company for the first time, got all exited for a minute, then I got to the cash flow statement. Oh well what can you do?.


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## Ves (15 November 2012)

*Re: ONC - Oncard*



robusta said:


> Just had a look at this company for the first time, got all exited for a minute, then I got to the cash flow statement. Oh well what can you do?.



The China expansion would be a "Wow factor" for a lot of people.  But from what I have found most Chinese corporations have really low return on equity / capital - mainly due to the fact that their economy works differently - government regulation is a massive burden.  The culture is always going to be a big challenge too - don't forget China is still effectively a third-world country in most parts.  It is inevitable that they will become more and more capitalist - but cultural forces will stop this from happening at the rapid pace than most people expect.


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## ROE (15 November 2012)

*Re: ONC - Oncard*

China and India market remained a pipe dream for hundred of business, the success rate is very very low

The only business I can see that may do well is fast food, industrial, financial and everything else it is not that easy lot of regulations and you need to have contacts and do dodgy deals...

Unless you are already in those market and making money but if you plan to expand there and think profit
going to be xxx hmmm .... Any business that spruik China or India I stay out


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## System (25 November 2015)

On November 25th, 2015, OnCard International Limited (ONC) changed its name and ASX code to TasFoods Limited (TFL).


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## craft (14 July 2017)

I think there is a bias for buying stuff close to home and I surely suffer from it. 

I like the potential here.

Utilise the natural Tasmania brand.
Attempting to establish a commercial model that cares for animal welfare and food quality. Is the market that will pay a bit more big enough?

Really early days yet - not yet at cash break even and business currently way too small for corporate overhead. Expect more purchases. Appear to have very good access to big hitters in capital market if required for right purchase. Had no trouble getting capital for Woolworth if deal hadn't fallen over.


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## greggles (23 May 2019)

TasFoods' share price taking off after yesterday's release of the *CEO's presentation to AGM*. 

The FY18 Results were pretty impressive with increases across the board. 






*
Betta Milk Acquisition*

On 13 May 2019, TasFoods entered into an agreement to purchase the milk processing assets and brands of the Betta Milk Co-Operative Society Limited for $11.5 million in cash, funded in part through an $8 million non-renounceable rights issue fully underwritten at $0.12 per share. 

Betta Milk, established in 1956, has market shares of 17% of Tasmanian fresh milk sales and 37% of branded milk sales and in FY18 had net revenue of $16.42 million. The acquisition includes Betta Milk's export-accredited processing facility in Burnie, and distribution centres in Launceston and Hobart.

TFL is growing strongly as a result of acquisitions and significant sales revenue increases of its existing dairy, poultry and horticulture brands. If the trend continues it looks like TasFoods is likely to be a quality long term play for buy and hold types.


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## The Triangle (31 October 2019)

Quarterly report out.  Revenue continues to grow but so are costs - which aren't going to drop anytime soon - EBITDA starting to look a little flat.  Freight, materials, employee expenses were 95% of revenue last year.  92% of revenue the year before.  So thats not a great look.  Synergies are not going to get TFL a 3-4 million swing.  Maybe a half million.  

What is the path to sustainable profitability?  Operating cashflows are more or less breakeven.  Still need a few million a year for capex.   When will they come back to shareholders with their hands out for more $$ to "buy" more revenue?


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## The Triangle (21 March 2020)

Still looking poor.  NTA down.  Losses bigger.   Their strategy is to increase prices - That is not going to work - just no reason to invest here.


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## aus_trader (4 January 2021)

With the new acquisition that will add to revenues, TFL looks like it could turn the corner...






There is always the "Tasmanian" X factor that could give the share price a boost as well, just look at PFT !

I am picking TFL for CY2021 competition.


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## Dona Ferentes (27 August 2021)

TasFoods has recorded a half year net loss of $1.4 million on sales up 5 per cent to  $33.9 million. It said EBITDA finished at $1.02 million, versus an  EBITDA loss of $300,000 in the prior half year period. 

The cheese, cream, butter, poultry and gourmet wasabi producer finished the period with cash on hand of $4.2 million. 

*Launch of ISLE & SKY *
_A Brand for Tasmanian Organic Produce_
-  will be launched in September 2021 with a range of organic chicken products to drive super premium chicken sales growth in interstate markets.

"_To become Australia’s leading source of Tasmanian food and beverage products by offering a curated portfolio of Tasmanian brands to discerning food lovers through acquiring and integrating scalable food businesses."_


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