Consumer Products

The prices of food commodities have been on an uptrend due to a perceived tight supply. Amid concerns of how this will affect bottomlines, OSK believe that the share prices of food companies will lag in 2011.

OSK think that the near term negative impact on bottomlines is inevitable as companies adjust to higher raw material prices. On the other hand, OSK believe the retail industry will continue to deliver good earnings in 2011 driven by strong consumer spending and companies’ expansion plans.

OSK downgrade the F&B subsector to NEUTRAL, with CI Holdings and QL Resources as our top picks while we maintain OVERWEIGHT on the retail industry, with Parkson remaining our favorite stock.

Below are the target prices and ratings for selected consumer product stocks.

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Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) declares 15 percent dividend to its members for financial year end 2010 amounting to RM294.9 million. This was announced during press conference to announce bank’s financial results.

For previous year dividend rate, kindly browse “Historical Bank Rakyat Dividend Rate” page.

During the same period Bank Rakyat registered a 10.8 per cent increase in pre-tax profit to RM1.72 billion from RM1.55 billion the previous year.

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APFT

Asia Pacific Flight Training (APFT) Bhd, a flight training academy based in Sultan Ismail Petra Airport, Pengkalan Chepa, Kota Bahru, Kelantan, is schedule to be listed in Main Market on 18th March 2011.

APFT’s IPO consists of public issue of 22.0 million ordinary shares and offer for sale of 17.3 million shares at an IPO price of RM0.50 per share with RM0.20 par value.

The proceeds from the IPO exercise will be used to repay bank borrowings, as well as for working capital and the expansion of its training facility.

15 million shares will be allocated for the Malaysian public and 7 million shares for eligible employees and person who contributed to the group. Offer for sale shares are to be issued to identified investor.

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ManagePay Systems Bhd, a technology solutions provider focusing on a variety of ICT and technology-related business, is schedule to be listed in ACE Market on 15th March 2011.

ManagePay Systems’s IPO consists of 45.8 million ordinary shares at an IPO price of RM0.16 per share with RM0.10 par value.

9.2 million shares will be allocated for the Malaysian public, 3.7 million shares for eligible employees and 32.9 million shares will be for private placement to identified investor. The IPO will raise in RM7.3 million in proceeds.

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Debit Card

Bank Islam recently launched a new debit card called “Bank Islam Visa Debit Card-i”. It is a multi functional card that combines the features of ATM a Visa card.

One of the main benefit of this card is, on every retail purchases made using Visa Debit Card-i, card members will enjoy 0.5 percent cash rebate.

The new Visa Debit Card-i will also allow card members to conduct transactions such as bill payments, dining, charitable contributions, online shopping, petrol purchases, Pilgrimage Fund Board’s (Tabung Haji) transactions or ticket bookings.

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