Berjaya Foods: Sizzling Mood

Adding value in Indonesia

Yes, after a quiet start last week when it showed life after a long period of hibernation, the counter rocketed 9 sen today to touch RM1.10 after the company announced it has successfully inked a deal with the franchise holder of Kenny Rogers Restaurants (KRR) in Indonesia.

Taking over 51% of the shares of the franchise holder, PT Boga Lestari Sentosa  is definitely going to add a fat bottom-line to Berjaya Foods given Indonesia's huge population.

As Indonesia is showing more prudent economic development these days, the income of the local Indonesian will definitely improve giving them affordability to dine in KRR joints.

I think the time for a re-rating of the counter is close at hand as BJ Foods ready itself for the 4 for 5 rights issue of RM0.65 sen per share.

BJ Foods closed at a good price of RM1.09 this evening.