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UPDATE 1-Borneo Lumbung IPO set to raise up to $632 mln-sources

* Set initial price at 1,170 rph/share - sources
* Set to offer 4.4 bln new shares - sources
* Set to raise $632 million, 2nd biggest IPO this year
(Adds quotes, details)
By Janeman Latul and Fathiya Dahrul
JAKARTA, Nov 10 (Reuters) - Indonesian coking coal miner PT Borneo Lumbung Energi & Metal is set to raise 5.63 trillion rupiah ($632.4 million) by offering new shares this month, sources said, to become the country's second biggest IPO this year.
Borneo will offer 4.4 billion of news shares, higher than a previous plan to sell 3.3 billion new shares, two sources with direct knowledge of the deal said.
It will be the first initial public offering by an Indonesian coking coal miner and is the latest in a flurry of recent IPOs that comes amid strong foreign demand for Indonesian stocks.
The benchmark Jakarta stock index .JKSE extended recent gains to hit a fresh record high on Wednesday.   Continued...

Gloria Jean to open more outlets

KUALA LUMPUR: Gloria Jean’s Coffees is on track to open 50 outlets by 2016, said chairman of Malaysia International Franchise Sdn Bhd (MyFranchise)  Ahmad Shalimin Ahmad Shaffie today.
MyFranchise, through its subsidiary Wonderful Lifestyle Sdn Bhd, is the master franchisee of Gloria Jean’s Coffees in Malaysia and Brunei.
The gourmet coffee retailer has outlets at, among others, Plaza Sentral, Dataran Maybank, Jesselton Point 1 Borneo Sabah, Bursa Malaysia, Global Doctor Specialist Centre Mont Kiara, One Sentral and Kenanga International.
Today marked the opening of its 24th outlet, located in the Sime Darby Plantation tower building in Ara Damansara.
MyFranchise said it is a proven strategy for Gloria Jean’s Coffees franchisees to operate their outlets within office buildings.
Ahmad Shalimin said at a press conference today: “About 10 more outlets will be opened including two in Brunei by year-end, and it is a positive sign that more franchisees have confidence in taking up the Gloria Jean’s Coffees franchise.”
Rosenafizah Jantan, owner and franchise partner of the Ara Damansara outlet, said MyFranchise’s extensive support — including for financing, management, operations and promotions — had given her the confidence to join the franchise business.
-Bernama