Brahim’s Holdings Berhad (BHB) under its subsidiary Brahim’s Trading Sdn Bhd and Quantum Angel Sdn Bhd is making an investment of RM95 million in the Malaysian and Singaporean franchise of Burger King. The investment will see the brand’s equity being acquired a 100% by BHB.
According to The Rakyat Post, Ekuinas Nasional who bought over 95% equity interest in Burger King restaurant in Malaysia in 2011, and a 100% equity interest in the business in Singapore 2012, will collect RM640.4 million when the deal is completed. The article also said that Ekuinas Nasional is in the middle of restructuring its F&B businesses and will be focusing more on the casual dining and dessert franchise.
Meanwhile, the new management at BHB added that it is on the mission to revive the Burger King restaurants brand in Malaysia and Singapore. Marketing has reached out to the new management for further details.
In a press statement on Bursa Malaysia, the company stated that it intends to embark on several strategies such as cost cutting measures to turn the brand around. Marketing-wise, BHB aims to have “more effective execution of marketing promotions” and “create more innovative products”. It also aims to encourage new customer trials and repeat visitors. Post completion of the acquisition, it will also launch new marketing programs for brand building and market positioning.
BHB also added that it is “confident that the Burger King chain of restaurants in Malaysia and Singapore have good long-term prospects”, but promised “selective expansion” of Burger King restaurants in strategic locations across Malaysia and Singapore, as well as remodelling of the existing Burger King restaurants.
Burger King’s competitors in Singapore and Malaysia are mainly international chain of burger fast food restaurants and home-grown burger restaurants. Based on its latest audited financial statements for BK Singapore, the brand is currently loss-making.
Globally, Burger King made several major changes to its brand, dropping its iconic “Have it Your Way” slogan for “Be Your Way.” According to a statement by Burger King, the new motto is intended to reflect the fact that “self-expression is most important and it’s our differences that make us individuals instead of robots.”