Berjaya Food

Berjaya Food Berhad Initial Public Offering (IPO) received an overwhelming response with its Malaysian public portion of 7 million shares. It was oversubscribed by 14.48 times. The IPO attract 4,942 applications or 109.4 million shares.

For the Bumiputera portion, a total of 2,075 applications for 40.2 million shares were received which represents an oversubscription rate of 10.53 times while under the Malaysian public category 2,867 applications for 68.6 million shares were received for an oversubscription of 18.43 times.

Below are the allotment summary

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Hong Leong Bank recently introduced Hong Leong Fortune Credit Card which offer real cash to card holders. Instead of reward points or cash back for the usage of the card, card holders will receive real cash. The cash will be accessible to card holders anytime, anywhere via HLB’s wide network of ATMs.

Card holders will earn 1 percent cash rebate on every spending such as from shopping, dining, petrol or anything else. On top of that, card holders are also eligible to earn cash bonus on card anniversary based on yearly spending amount.

Below are the main features of Hong Leong Fortune Credit Card;

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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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