Berjaya Food share rises after Cambodia unit formed

 July 10, 2014
KUALA LUMPUR: Berjaya Food Bhd’s share on Bursa Malaysia rose in early trade today following the announcement yesterday that it had incorporated a new subsidiary in Cambodia.
As at 9.57am, the counter rose four sen or 2.45% to RM1.67, after opening at RM1.64, with 47,000 shares changing hands.
In a filing to Bursa Malaysia yesterday, Berjaya Food said the principal activities of the subsidiary, Berjaya Roasters (Cambodia) Ltd, is to develop and operate the Kenny Rogers Roasters chain in the market.
The issued share capital of the new unit is KHR2 billion (RM1.57 million), comprising 500,000 shares of KHR4,000 each.
Berjaya Food, through its wholly-owned subsidiary, Berjaya Food (International) Sdn Bhd, is taking a 70% stake in the venture, with the remainder belonging to CE Roosters Ltd, its local partner in Cambodia. – Bernama