{"id":19063,"date":"2026-04-30T23:36:35","date_gmt":"2026-04-30T15:36:35","guid":{"rendered":"https:\/\/www.smallcapasia.com\/?p=19063"},"modified":"2026-06-09T18:55:28","modified_gmt":"2026-06-09T10:55:28","slug":"3-undervalued-consumer-stocks-giving-big-dividends","status":"publish","type":"post","link":"https:\/\/www.smallcapasia.com\/zh-hans\/3-undervalued-consumer-stocks-giving-big-dividends\/","title":{"rendered":"3 Undervalued Consumer Stocks Giving Big Dividends"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The situation in the Middle East is ever-changing.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investors are constantly monitoring the newsflow coming out of the U.S. and Iran, and most importantly, Trump\u2019s X account.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Risks are high, and things are uncertain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That\u2019s where consumer stocks shine. They are still in demand regardless of the state of the global economy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this article, we will detail three consumer stocks in Singapore and Hong Kong that are undervalued and delivering big dividends.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Investment Thesis and Catalyst<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Slow and steady.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Middle East conflict could cause a recession if global crude oil and natural gas prices remain high for the rest of the year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Consumer stocks have traditionally been resistant to recessions and risks, and investors shift their money to them when things go bad.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">They are also great dividend companies, as they consistently pay out a high share of their earnings in dividends.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Kimly (Singapore)<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Kimly manages and operates food outlets or coffee shops under the Kimly, foodclique, and Kedai Kopi brands. It also has restaurants under the Tonkichi and Tenderfresh brands.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is listed on the Singapore Exchange and has a market capitalisation of SG$491 million.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kimly\u2019s valuation is relatively cheap now. It is trading at a price-to-earnings (PER) ratio of 14.6 times compared to its peers\u2019 average of 18.1 times.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-19064 size-full\" src=\"https:\/\/www.smallcapasia.com\/wp-content\/uploads\/2026\/04\/image1-2.png\" alt=\"\" width=\"913\" height=\"557\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Source: SimplyWallSt<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, its dividend yield is also high at 5.1%, averaging the same from 2021 to 2025. And it has increased its dividend payout ratio from 42% in 2021 to 75% in 2025.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kimly\u2019s financial growth in the past five years has been strong. Revenue grew at an average annual growth rate of 7.8% from 2021 to 2025. However, its profits have also declined since 2021, due to higher selling, general, and administrative expenses.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Its food retail division remains its most profitable segment with a profit margin of 19%, compared to its outlet management (10.5%) and outlet investment (16.6%).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The food retail division contributes the most to revenue at 57%.<\/span><\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-19066 size-full\" src=\"https:\/\/www.smallcapasia.com\/wp-content\/uploads\/2026\/04\/image3-2.png\" alt=\"\" width=\"831\" height=\"517\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Source: Kimly Annual Report 2025<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Thai Beverage (Singapore)<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Thai Beverage (ThaiBev) is a Thai beverage company that is listed on the Singapore Exchange and sells four main product types &#8211; spirits, beer, non-alcoholic beverages and food &#8211; in Southeast Asia.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is currently worth SG$10.6 billion in market capitalisation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">ThaiBev is trading at low valuations, with a PER of 10.5 times compared to its peers\u2019 average of 11.8 times. Meanwhile, it is also below its 5-year historical average of 13.3 times.<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-19065 size-full\" src=\"https:\/\/www.smallcapasia.com\/wp-content\/uploads\/2026\/04\/image2-2.png\" alt=\"\" width=\"918\" height=\"561\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Source: SimplyWallSt<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s look at its dividend track record.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The dividend yield is high at 5.9% currently, compared to 3.7% of the industry average.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It has also been steadily increasing its dividend payout ratio from 53.9% in 2024 to 61.4% in 2025.<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-19068 size-full\" src=\"https:\/\/www.smallcapasia.com\/wp-content\/uploads\/2026\/04\/image5-1.png\" alt=\"\" width=\"921\" height=\"388\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Source: SimplyWallSt<\/span><\/p>\n<p><span style=\"font-weight: 400;\">2025 is a normalisation year for ThaiBev. Revenue declined slightly by 2.1% to SG$333 million in 2025 from SG$340 million in 2024, driven mainly by lower sales in spirits. Beer makes up the majority of its business with 37% of revenue, followed by spirits (36%), non-alcoholic beverages (19%).<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-19067 size-full\" src=\"https:\/\/www.smallcapasia.com\/wp-content\/uploads\/2026\/04\/image4-2.png\" alt=\"\" width=\"1535\" height=\"466\" \/><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Source: ThaiBev FY 25 Results Presentation<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, analysts in the market are projecting that ThaiBev could have some upside potential. The average target price is set at SG$0.51 with an implied upside of +22.4%.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-19070 size-full\" src=\"https:\/\/www.smallcapasia.com\/wp-content\/uploads\/2026\/04\/image7-1.png\" alt=\"\" width=\"907\" height=\"272\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Source: SimplyWallSt<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Bosideng International (Hong Kong)<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Bosideng International operates and sells down apparel brands in China, such as Bosideng, Snow Flying, Binjora, and others.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is listed on the Hong Kong Exchange and currently has a market capitalisation of HKD48 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bosideng is trading at a PER of 12.1 times, slightly lower than its peers\u2019 average of 12.4 times, but much cheaper compared to its 5-year historical average of 16.1 times.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, it also generates a high dividend of 6.6%, higher than the industry average of 4.5%. The dividend payout ratio is also high at about 84%.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-19069 size-full\" src=\"https:\/\/www.smallcapasia.com\/wp-content\/uploads\/2026\/04\/image6-1.png\" alt=\"\" width=\"902\" height=\"377\" \/><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Source: SimplyWallSt<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bosideng remains anchored by its core business of down apparel, where it contributed nearly three-quarters of its revenue in 1H 2025 (Mar-Sep 2025).\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue for 1H 2025 is up slightly by 1.4% to RMB8.9 billion, driven mainly by its down apparel business (+8.3%).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">However, its other segments declined, especially OEM management (-11.7%) and ladieswear (-18.6%).<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-19072 size-full\" src=\"https:\/\/www.smallcapasia.com\/wp-content\/uploads\/2026\/04\/image9-1.png\" alt=\"\" width=\"1035\" height=\"401\" \/><\/p>\n<p><span style=\"font-weight: 400;\">In China, the sales of clothes and apparel are picking up very strongly in 2026. Retail sales of clothes, shoes, hats, and textiles <\/span><a href=\"https:\/\/www.stats.gov.cn\/english\/PressRelease\/202604\/t20260417_1963351.html\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><span style=\"font-weight: 400;\">rose to 9.3%<\/span><\/a><span style=\"font-weight: 400;\"> for the months between January and March 2026, compared to <\/span><a href=\"https:\/\/www.stats.gov.cn\/english\/PressRelease\/\/202601\/t20260120_1962354.html\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><span style=\"font-weight: 400;\">2025\u2019s annual growth rate of 3.2%<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Analysts in the market are high on the stock. The average target price is set at HK$5.59 with an implied upside of +30.9%.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-19071 size-full\" src=\"https:\/\/www.smallcapasia.com\/wp-content\/uploads\/2026\/04\/image8-1.png\" alt=\"\" width=\"905\" height=\"278\" \/><\/p>\n<h2><span style=\"font-weight: 400;\">Conclusion<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As the world gets more uncertain by the day and the risks of a global recession increase, the consumer sector could prove to be the go-to for investors looking for safety and stability.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s best to look for undervalued opportunities with high potential upside and high dividend yields to shield against volatile markets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Join our newsletter and unlock access to hidden gems and top dividend stocks and REITs: <a href=\"https:\/\/www.smallcapasia.com\/#subscribe\">https:\/\/www.smallcapasia.com\/#subscribe<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The situation in the Middle East is ever-changing. Investors are constantly monitoring the newsflow coming out of the U.S. and Iran, and most importantly, Trump\u2019s X account. Risks are high, and things are uncertain. That\u2019s where consumer stocks shine. They are still in demand regardless of the state of the global economy. In this article, [&hellip;]<\/p>\n","protected":false},"author":154,"featured_media":19064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[3053,3051],"tags":[],"class_list":["post-19063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-reits-dividend-stock-coverage-singapore","category-singapore"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.smallcapasia.com\/zh-hans\/wp-json\/wp\/v2\/posts\/19063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.smallcapasia.com\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.smallcapasia.com\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.smallcapasia.com\/zh-hans\/wp-json\/wp\/v2\/users\/154"}],"replies":[{"embeddable":true,"href":"https:\/\/www.smallcapasia.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=19063"}],"version-history":[{"count":4,"href":"https:\/\/www.smallcapasia.com\/zh-hans\/wp-json\/wp\/v2\/posts\/19063\/revisions"}],"predecessor-version":[{"id":20013,"href":"https:\/\/www.smallcapasia.com\/zh-hans\/wp-json\/wp\/v2\/posts\/19063\/revisions\/20013"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.smallcapasia.com\/zh-hans\/wp-json\/wp\/v2\/media\/19064"}],"wp:attachment":[{"href":"https:\/\/www.smallcapasia.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=19063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.smallcapasia.com\/zh-hans\/wp-json\/wp\/v2\/categories?post=19063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.smallcapasia.com\/zh-hans\/wp-json\/wp\/v2\/tags?post=19063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}