Marketing

Toggle

Article

KUB Malaysia sells entire stake in A&W Malaysia for RM34m

Restoran Kualiti (RKSB), a subsidiary of investment holding company KUB Malaysia (KUB), has sold its entire stake in A&W Malaysia for RM34 million to Inter Mark Resources (IMRSB). The total amount comprises RM30 million for A&W Malayisia’s entire equity interest and RM4 million for reimbursement of intercompany balances.

Upon completion of the sale, A&W Malaysia will no longer be a subsidiary of RKSB. According to the Bursa filing, the move will enable KUB to realise its investment that is not considered as strategic and synergistic to its other operations within the group, as well as focus on the group’s core businesses. KUB’s subsidiaries are involved in energy, gas, agribusiness, telecommunications and the food and beverage sectors.

Meanwhile across the causeway, A&W announced last year that it will return to Singapore in the second half of 2018, due to numerous requests via social media and other channels to bring the brand back to Singapore. According to A&W CEO Kevin Bazner, there will be “exciting menu innovations” that cater to local tastes, along with signature favourites such as curly fries, root beer floats and coney dogs.

 

Read More News

Trending