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The company says that the investment is not considered strategic or synergistic with the operations of its group.
KUB Malaysia Bhd has operated A & W Malaysia since 2001. (Photo by Facebook)
KUALA LUMPUR: wholly-owned subsidiary of KUB Malaysia Bhd, restaurateur Kualiti Sdn Bhd (RKSB) has sold its total stake in A & W (Malaysia) Sdn Bhd to Inter Mark Resources Sdn Bhd for RM 34 million
Amount includes repayment of inter-company balances of RM 4 million to KUB
Upon filing with Bursa Malaysia today, KUB said the divestment would allow the group to focus on its core businesses and realize its investment, which was not considered strategic or synergistic with the group's operations. that the assignment would not have a significant impact on the group's debt ratio.
KUB took over the business of A & W Malaysia in 2001. The company also owned the A & W franchise in Thailand.
Earlier this year, the Petaling Jaya City Council (MBPJ) had approved the demolition of its A & W outlet on Jalan Sultan in Petaling Jaya, which had been there since 1965, to allow the start of operations. a high-rise project on the site.
The landing stage was the country's first drive-up
KUB announced in 2014 that it was planning to develop the 0.4-hectare site to house two office towers called KUB Towers.
In January of this year, the president and the KUB group According to The Edge, general manager Abdul Rahim Mohd Zin said that too much investment was needed to open new outlets A & W. [19659004Hethendecidedtofocushisattentiononthethreenewsectorsthatwouldrequirealotoffunding
He stated that the company had decided to make a national decision on capital spending by taking down RM100 million in the year 19659004. He said that KUB had taken necessary steps to preserve the value of A & W Malaysia, but hoped to sell the franchise agreement expired in 2019 to maximize the value of the company
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