MPAY

ManagePay Systems Berhad Initial Public Offering (IPO) received an overwhelming response with its Malaysian public portion of 9.15 million shares. It was oversubscribed by 46.04 times. The IPO attract 6,858 applications or 430.50 million shares.

All the 32.9 million of new shares made available for private placement to identified investors have been placed out.

Below are the allotment summary

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KNM

KNM shares price has been beaten recently due to its net profit fell to its lowest level in five year. On 2nd March KNM closed at RM2.34

However, many research houses are still maintaining a “buy” call for KNM on the positive sentiment that its current fiscal year would be better than 2010.

The table below are the target price for KNM from various research house.

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Insurance

Recently, Bank Negara Malaysia (BNM) announced that motor insurance premiums will be gradually increased starting from 2012 until 2015. The premium adjustments will only apply to the bodily injury portion of motor insurance, which will be de-tariffed and liberalized in 2016.

The actual quantum of increase is still under review by BNM but from the preliminary data from BNM, the following are the estimated annual premium hike for motor insurance from 2012 to 2015,

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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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