Maiden Interim Dividend for Berjaya Foods

For shareholders of Berjaya Foods Berhad (BFood), it has been one roller-coaster ride. Prices started at 50+ sen on opening day before going hyper to touche the highof the RM1.20s. Today it is languishing at the upper 80 levels. Poor show,Vincent.

Held 75% by Berjaya Corporation (BJCorp), BFood today consists of only Kenny Rogers Restaurants (KRR) within the boundaries of Malaysia. The franchise outside Malaysia especially China where BJCorp is thinking seriously of venturing into belongs wholly to BJCorp itself.

There are a few hurdles that BFoods have to overcome. First, it must buy back the3  franchised restaurants so that the  brand will be wholly managed by BFoods. This is important to maintain quality ad image. Secondly, they may have to venture outside the shopping complexes to seek the walk in customers just like KFC and Old Town outlets.

Bearing the lousy share price, the fact that BFoods will be paying its maiden interim dividend of a single-tiered 3% is good news. Though performance when compared to the previous year is not too good, I think KRR will see the company through for the year.l.

Voices from the Past

Yes, like an old melody that is so welcomed back...music to the ears.

On 1st June, I had a chanced meeting with Thomas Woon. I had not met him from the late 1960s and it was a wonder that he could remember me after all these years. Through him, I have also located another person from the past--guitar playing-crooning Bernard. So he is now a lawyer-good for him.

Then last Thursday, I met Joyce. The last time I saw her was when I was half a century old. It has been close to 10 years since.

With these voices from the past, I will now be able to rebuild a time tunnel so that relationship can again be renewed and strengthened as together, we moved into the twilight years.........

Capturing Time

They say that if only we can capture time in a bottle, we will always be youthful and have our wishes and dreams come true.

Look at these pictures and wonder-for time is captured forever therein.

Here Comes Resorts World Miami!

This is another corporate move of Genting Malaysia to move strongly in to good old USA. Not contented with just Aqueduct New York, Miami is one hot destination it is pursuing n its international footprint.

So, let us hear it from the boys!

Bayfront 2011 Property, LLC, a subsidiary of Genting Malaysia Bhd, has acquired 5.62 hectares in Miami, the United States for US$236 million (RM708 million) for mixed-use development.

The land includes a large waterfront property enclave that faces Biscayne Bay.

Genting Malaysia will work on a master plan for its next resort harnessing on Miami’s strength as a major tourist destination. Resorts World Miami will be developed as an integrated resort which will include a hotel, entertainment, convention centres, restaurants, retail, and residential facilities.

In a statement, Genting Malaysia chairman and chief executive Tan Sri Lim Kok Thay said that Resorts World Miami will be a landmark mixed-used development for Miami, Florida, and the US.

Resorts World Miami is slated to be Genting Malaysia’s second venture in the US after Resorts World New York. This new acquisition in Miami is an important move as part of Genting Malaysia’s international expansion efforts in the leisure, hospitality and entertainment industry.

So, looking for another casino licence here too, Kok Thay?

Two Loud Pictures

Wonderful, don't you think so?

Curiosity Motivates....

A picture spells out a thousand words or more....

Enjoy.

Faber Group-The Way Out and Forward

At its AGM and EGM in May 2011, Faber Group Bhd stated that it hopes to give out higher dividends from next year following shareholders' approval for a proposal that will help clean its balance sheet by year-end.
 

Faber is a dividend paying company for the last 5 years and recently, did declare an increased dividend rate of 8 per cent for financial year ending December 31 2010.

"We hope that the accumulated losses will be wiped out by this year and from this (move), to see a better future dividend payout," managing director Adnan Mohammad told reporters at a press conference after its annual general meeting and an extraordinary general meetings here yesterday.

Faber has accumulated some RM422 million losses over the years.

Adnan said that looking at the past five years' trend, it had declared dividends of 2 per cent, 3 per cent, 4 per cent, 6 per cent and now 8 per cent and it would like to see this trend continue.

The dividend quantum would also depend on the group's performance, he added.

Yesterday, Faber obtained shareholders' approval to reduce the par value of its shares and for a share premium reduction.

The former will see it reduce its issued and paid-up share capital to RM90.75 million comprising 363 million shares of 25 sen each from RM363 million of RM1 share each.

The share premium account will be reduced by RM115.98 million.

Meanwhile, Adnan reiterated that he was positive it would get a further concession for the government hospital support services.

He hopes that it will encompass the same area, services as well as the duration.

Faber has a 15-year concession from the government that will end on October 28 2011. 

Looking at potential and fundametals, Faber Group looks good as a 'hold'.