BFoods to Absorb Other Berjaya Food Brands?

BFoods may buy into Berjaya Group Berhad's s other food-related businesses such as Papa John's Pizza, Wendy's and Starbucks Coffee in the company's stable. So said its CEO, Francis Lee.

“Nothing at this stage yet but we will consider (it) when the opportunities arise,”  Lee said at BFood prospectus launch yesterday.

He said BFood held the exclusive franchise for the development and operation of Kenny Rogers Roasters chain of restaurants in Malaysia.

“To date, there are 67 Kenny Rogers Roasters restaurants, of which 52 are owned by BFood while the remaining 13 are owned by independent franchisees,” he said.

Lee said BFood would also consider acquiring Kenny Rogers Roasters restaurants that were under the independent franchisees.

“We stopped the franchising of Kenny Rogers Roasters restaurants three years ago to have better control over our restaurants in terms of food products offering and service level,” he said.

Lee said the company planned to open eight to 10 new outlets every year and aimed to increase the number of restaurants to 67 by the end of its financial year ending April 30, 2012.

“The investment is about RM700,000 per outlet. Currently, all our restaurants are in shopping malls but we may also open at shoplots and small towns throughout Malaysia,” he said.

Lee said the local food service market was expected to grow in the coming years, driven by the increase in the average Malaysian consumption spending and the growing trend of eating out.

“Malaysian families are becoming increasingly health conscious. This augurs well for us as we have an established household name for serving healthy and wholesome meals,” he said.

BFood is scheduled to list on  BSKL Main Board on March 8. It will have a market capitalisation of about RM72.1mil upon listing.

The flotation involves offer for sale of 35.8 million ordinary shares of 50 sen each, representing 25.35% equity interest in BFood, at an issue price of 51 sen per share.

The initial public offering (IPO) comprises 14.2 million shares for private placement to bumiputra investors approved by the Ministry of International Trade and Industry, 9.7 million shares for private placement to selected investors, 3.5 million shares for application by bumiputra public, 3.5 million shares for application by Malaysian public, and 4.9 million shares for application by eligible directors, employees and business associates of the BFood group.

Proceeds to be raised from the offer for sales which accrue to the offeror, Berjaya Group, amount to about RM18.3mil.

For the financial year ended April 30, 2010, BFood reported a net profit of RM8.7mil on the back of revenue of RM60.4mil.

Kenny Rogers Get Listed

Will it be a letdown like Berjaya Retail Berhad?

Perhaps not, since fast food is hard cash.

Berjaya Food Bhd (BFood), en-route for listing on the Main Market of Bursa Malaysia Securities Bhd next month, expects to raise RM18.3 million from its initial public offering (IPO).

The operator of Kenny Rogers Roasters restaurants in Malaysia said the proceeds would accrue entirely to the offeror, Berjaya Group Bhd.

The company listing is scheduled for March 8 with a market capitalisation of about RM72.1 million.

Speaking at the launch of its prospectus here today, BFood Chief Executive Officer Datuk Francis Lee said the company has planned to open between eight and 10 new restaurants each year.

He said the company also aimed to increase the number of company-owned restaurants to 67 by financial year ending April 30, 2012.

To-date, 65 Kenny Rogers Roasters restaurants operate nationwide, of which 52 are owned by BFood while the remaining 13 are owned by independent franchisees.

“We are very excited about our future prospects. The local food service market is expected to grow in the coming years, driven by the increase in the average Malaysian consumption spending and the growing trend of eating out,” he said.

The IPO entails an offer for sale of 35.8 million ordinary shares of 50 sen each, representing 25.35 per cent equity interest in BFood, at an issued price of 51 sen.

Applications for the IPO opened today (18 February) close at 5pm on February 25,2011.

So,let us try our luck here, won't we?

7.2% GDP for 2010

Well, that is the number coming from Bank Negara Malaysia (BNM).

 
According to it, the Malaysian economy expanded by 4.8 per cent in the fourth quarter of last year bringing the total growth for 2010 to 7.2 per cent.

This is an improvement over the -1.9 per cent contraction the economy suffered in 2009 following the global economic slowdown.

“Higher private and public sector spending contributed to the expansion in domestic demand,” said BNM in a statement to the media. “The slower growth in the global economy, however, had led to weaker growth in external demand.”

Well, it is now official and will be used for onward planning.

Native Indian Prayer of Wisdom

Native American Code Of Ethics
Chief Black Chicken, Yankton Dakota (Sioux)

Rise with the sun to pray. Pray alone. Pray often.
The Great Spirit will listen, if you only speak.
~
Be tolerant of those who are lost on their path.
Ignorance, conceit, anger, jealousy and greed stem
from a lost soul. Pray that they will find guidance.
~
Search for yourself, by yourself. Do not allow others
to make your path for you. It is your road, and
yours alone. Others may walk it with you,
but no one can walk it for you.
~
Treat the guests in your home with much consideration.
Serve them the best food, give them the best
bed and treat them with respect and honor.
~
Do not take what is not yours whether from
a person, a community,the wilderness or from a
culture. It was not earned nor given. It is not yours.
~
Respect all things that are placed upon
this earth – whether it be people or plant.

Valentine No More

Well nothing beats Malaysia in stirring up controversies. As the Bard puts it, it has always and will always be much 'Ado About Nothing'

Now, the Muslims and the Christians are at it again. This time, it is the observance of the secular lover's
festival of Saint Valentine.

The Muslims says that is is a Christian thing and must never be celebrated. Not so, says the Christians as Valentine has never found recognition in their faith.

As so the battle of the lovers continue.

Meanwhile the country has run out of roses and are importing them. How will the chocolatiers fair and will
hotels and restaurant be affected by this turn of events?

Let us see who are finally going to be the victims of Valentine's Day!

Then There are Photos

These are deep and strikes deep into our intellect,emotional milieu or soul..........

Penny for Your Thoughts

Well,my,my...

Kids sure are getting more vocal these days. And true,they are matching our intellect if we are not on our toes.

This is Adora Svitak-one prodigy to behold.

Watch this prima donna of a gifted kid and believe!