UOBKH expects Kimly to benefit from the work-from-home trend and as people become more price sensitive amid the coronavirus outbreak, analysts Llelleythan Tan and Joohijit Kaur wrote in a report dated last Friday.
Besides, as Singapore reopens the economy following the lifting of"circuit-breaker" measures, customers are likely to start dining at Kimly's multiple restaurant brands again, they added. The company has thus been consistently paying out one of the highest dividend yields - estimated at 5.5 per cent for FY20 - as compared to its competitors in Singapore, they added.
Meanwhile, RHB analyst Jarick Seet said in a report last Friday that Kimly continues to benefit from the still-high food delivery orders, although there has been a slight dip in orders quarter on quarter. The popularity of food delivered from Kimly's outlets may be due to the fact that it is one of the most affordable options among food delivery platforms, making it more sustainable for the average family in Singapore in this flagging economy, RHB noted.
RHB, meanwhile, noted that after the completion of Phase 2B of Kimly's acquisition, its portfolio now boasts some 80 food outlets and 134 food stalls, up 25 per cent and 10.7 per cent respectively since its initial public offering.