KUALA LUMPUR, Aug 21, 2015:

The Burger King franchise in Malaysia has been sold to the 99SpeedMart founder Lee Thiam Wah and Pemudah member Datuk Chua Tia Guan, who was overlooking the implementation of the Goods and Services Tax.

The sale by Ekuiti Nasional Bhd (Ekuinas) comes months after earlier plans to sell the fast food franchise to Brahim’s Holdings Bhd fell through.

In a statement, Ekuinas said it has sold the Burger King franchise in Malaysia and Singapore for RM74.6 million to Newscape Capital Sdn Bhd – owned by Chua and Lee – after a sale process conducted together with BK Asiapac Pte Ltd, the master franchisor for the brand in the Asia Pacific region.

With the sale, Ekuinas said it had made loss in the franchise investment with “a negative internal rate of return of 28.1% and investment recovery of 0.45 times of capital invested.”

Ekuinas had acquired a 95% equity interest in the Malaysian franchise – except for the KLIA outlet – and a 100% equity interest in the Singapore business progressively in 2011 and 2012.

Chief executive officer Datuk Abdul Rahman Ahmad said: “This exercise has also enabled Ekuinas to successfully complete the restructuring of its F&B portfolio involving our exit from the quick service restaurant segment to fully focus and expand on the core casual dining and beverage segments with brands such as Tony Roma’s, Manhattan Fish Market, New York Steak Shack, Coolblog and San Francisco Coffee.”

He added that the exit from Burger King group brings the total realisation proceeds generated by Ekuinas from its divestment activities to RM1 billion across five investments after nearly six years in operations.

http://www.therakyatpost.com/business/2015...edmart-founder/

dun get ur hopes up about bacon burgers.

it aint gonna happen unless the new owners want to make huge changes in the BK workforce.

how can u even say that ?

Revenue isn't the only measure of success when it comes to fast food chains -- they also compete for size and reach. Here are the biggest QSRs in the U.S., by number of locations:

Subway, 24,722
McDonald’s, 14,098
Starbucks, 10,821
Pizza Hut, 7,600
Burger King, 7,231
Dunkin’ Donuts, 7,015
Wendy’s, 6,594
Dairy Queen, 6,187
Taco Bell, 5,670
Domino’s Pizza, 4,907

McDonald's employs 440,000 in the USA alone. 3rd largest employer in the USA.

BK not even in the top 50 of the same list

This post has been edited by jonny4: Aug 24 2015, 12:55 PM