KUALA LUMPUR (Nov 29): Hextar Industries Bhd (KL:HEXIND) said on Friday it has signed an agreement to bring in Chinese coffee house chain Luckin Coffee to Malaysian shores.

The company will have the exclusive rights to develop, open, and operate coffee shops under the Luckin Coffee brand nationwide in Malaysia, Hextar said in an exchange filing. The rights would be for 10 years, with possible renewal for two successive five-year terms.

The company plans to expand Luckin Coffee aggressively across the country, Datuk Eddie Ong Choo Meng, a major shareholder of Hextar Industries, said in a statement. "We have equally ambitious plans for Luckin Coffee in Malaysia, inspired by the brand's tremendous growth,” he said.

The master development and operating agreement signed by Hextar unit Global Aroma Sdn Bhd with Luckin Coffee Holding Singapore Pte Ltd follows a report by The Edge in June that Luckin Coffee plans to partner a Bursa Malaysia-listed firm for its debut in the country.

Founded in 2017 and headquartered in Xiamen, Luckin Coffee operated 21,343 stores globally as of the third quarter of 2024. In the third quarter alone, the company opened 1,382 new stores.

Luckin Coffee opened its first overseas locations in Singapore on March 31, 2023. By the end of that year, 30 outlets had been opened in the country.

For its foray into Malaysia, the plan is to open the first store by the first quarter of 2025.

The entry of Luckin Coffee comes at a time of heightened competition from a rising number of coffee brands and outlets competing to fill in the gap left by Starbucks, as the American franchise faces protracted consumer boycotts due to Middle East tensions.

"We believe that bringing this success story to Malaysia will not only widen our portfolio, but also tap into the thriving food and beverage market here, making it a highly worthwhile investment for both Luckin Coffee and Malaysian consumers," said Ong.

Hextar Industries is mainly involved in manufacturing, formulation, distribution and trading of fertilisers, as well as the supply and distribution of quarry products and machinery.

The board will have to seek shareholders' approval for the business diversification — if it anticipates that the revenue derived from the new venture may contribute 25% or more of its net profit, or potentially divert 25% or more of its net assets.

At Friday's noon market break, shares of Hextar Industries were up one sen or 2.08% at 49 sen, with a market capitalisation of RM1.35 billion ahead of the announcement

This post has been edited by premier239: Nov 29 2024, 05:05 PM

Cant wait to try

Hope the prices can be like mixue

unlikely since coffee is inherently expensive. cost of machines plus beans. Tea can buat pukal and yet charges almost as coffee based drinks, they're the ones that overcharging not the coffee shops.

lol penny stock king

Strong competition here like GIGI, ZUS & HWC, we'll see.

hextar? with no background in fnb? cable kuat o

**Field**	**Details**
**Company Name**	GLOBAL AROMA SDN. BHD.
**Registration Number**	1574222M / 202401028374
**Nature of Business**	- Retail sale of food, beverages, and tobacco products via stalls or markets
	- Retail sale of tea, coffee, soft drinks, mineral water, and other beverages
	- Export and import of a variety of goods without any particular specialization (n.e.c.)
**Date of Registration**	2024-07-15
**State**	Selangor

Very fast...

This post has been edited by plouffle0789: Nov 29 2024, 05:19 PM

In china..is cheap tho thts why thy are so popular .

I hope LC can undercut thm

Forcing others to lower their prices

undercut but coffee taste like shit also no use.

Thts why need to try first

luckin and starbucks is the biggest competitor ler.
makes no sense for Starbucks franchise holder to get luckin as well.

in china, where there's a Starbucks, luckin will open one next to it.
it's that aggressive.

vtan portfolio mostly western company also.

they just need to have stock available.
mixue RM2 ice cream always no stock. but bigger & pricier sundae cup size available. wtf.

starbucks lagi gg after luckin masuk

isn't HWC more atas?

won't last long
the one in thailand already lingkup and many have said it doesn't even taste good

if latte Rm5 , shit also ppl buy, most just need it for daily consumption

if only they can be as good as coffee bean

Competition is good. But i hope we won't be getting toxic fake shit with luckin

dis guy sure got cable with the mainland side lah

if not who so dumb appoint company with zero expertise to represent u

Omae wa mou shindeiru

Starbucks is already dying, how to fight ccp pricing

fuh, eddie ong, penny stock king

>average 3 stars rating most of branch

yeah it wont survive among the big 2 (zus & kenangan)

let free market decide lo.

Meanwhile we bifoti chilling with

2024 people still drink coffee

Wait for the launch promo.
Grab it while it last.

this is the company that was listed in USA and shares fell to 0.01 right

sure can la...coffee margin is very high...if you brew coffee with beans at home u know how much it's cost for a double shot beans...

Lol always on promotion .. no one really buys aside from PRCs

Luck7 coffee...

Anneh suppork ZUS and GiGi!!! 🤘🏾👌🏾

What is it with these new coffee franchises and that shade of blue?

capitalism.
bait users with cheap then walk-in upsell you to profit.
if sell RM2 then lose you from the pricey cup size.

caffine addiction and meat eaters believe it helps with constipation

habis Zus

in the words Janet Yellen:

All these companies exist just as a vehicle to deliver the very potent drug called sugar to the masses, govt turning a blind eye I guess, while KKM is collapsing under their rm1 aje slogan.

Stay strong tealivr!

T20 got hwc.

M40 got zus.

B40 got kopitiam and mamak.

How is luckin going to fight lol.

is this better or blue bottle better

But it’s backed by CCP and designed with hipsters market in mind.

I’ll say it readily displace the previous pie left by setarbak, eventually Zus and etc too.

This post has been edited by msacras: Nov 29 2024, 09:17 PM

They just need to give cheaper price compare to zus and big chunk of customers will go to them. Cheaper as in 30% or more. Say, a latte that cost around rm5, then its gonna go for the kill.

Lets face it, majority of malaysians are not expert coffee drinker, hence they couldnt be bothered with the taste that much. Those minority genuine coffee lovers that really do love coffee, wouldnt be visiting cafes like zus/starbucks to begin with.

Main issue is your signboard in what language

i dont think price can be cheaper than zus tho

I went to sg to try LC. Its quite expensive almost like Starbucks price. Taste is ok only, its not for expert coffee drinker. Catered to the majority taste.
If LC manage to price lower than zus slightly in malaysia, then i think will be very successful.

Around CNY 13 / cup, not that cheap. Reasonable only.

And 99% of the store no sits, for take away only.

I always drink in xxp, I think it suit Malaysian becoz got many funny funny flavor or local B40 M40 like

Luckin might as well acquire Zus, both same colour same flavour and same taste and almost same strategy

This post has been edited by GoodBoy2022: Nov 30 2024, 05:15 AM

Fuh. Like 70% sugar?

Luckin coffee in China, the average price is below 20 yuan. And no, dont hype it up as the taste really worse at least for me.

"Kopi Bernasib"

Jom Asian brand destroy Starzucks!

Tastes like shi..t

I tried and immediately throw away

yes, it's for tourist only...like u gotta try it once when you're in china
but even my uncle who frequent china, like he goes there almost every month...even he say it's not nice, he say tasted weird for a coffee

he say that moutai coffee is nicer than luckin coffee

by doing stupid shit viral like this

Ewww China brand

Is this the 100 billion fdi from caina? This is why nowadays see so many caina franchise?

Nope. Will still support local. Boikote 99

I am in the process of removing China brands from my home and replacing them with superior Daddy Murika and Nippon products.

Soon my house will have some class and quality.

Make sure there are no made in China parts in them as well

That one still okay because got Daddy Murika and European standards.

I just don’t want low class China brands. Very malu oh when my relatives ask me where is certain equipments in my house made

y should them acquire that copycat

Rating is irrelevant for the price point they’re selling at.

ZUS > all

Apa, battle of the low prices continues?

LOL! That’s call hypocrisy

Trolling? 😉

Bawak the owner gi joli joli can already...

Of course yet such a cheap bait was able to trap a low intelligence Wu Mao

must be drank alot of moutai

Vincent probably potong kuku already thats why cannot joli2 to get the deal done.

Inb4 coffee = flavoured chemical powder =/= coffee bean