Dim Sum Delight, which operates the Tim Ho Wan brand in Malaysia, has ceased operations in the country, as of 3 July 2017. This was according to a Bursa filing by Texchem Resources, which owns 51% of the Dim Sum Delight.
According to the filing, Dim Sum Delight incurred RM895,642 in losses for the year, and was not expected to turn the business around in the near future. Costs associated with the closure are also unable to be assessed at the time, said Texchem. It added that shareholders of the company were of the opinion that Dim Sum Delight should cease its business operation to minimise losses.
This is amidst the current retail market remaining “soft and competitive”, read the filing.
Tim Ho Wan first opened in Malaysia in April 2014 and has two outlets in the country, one in One Utama in Selangor and another in Mid Valley Mall in Kuala Lumpur.
In a statement to TODAY, a spokesperson for the brand said that Tim Ho Wan restaurants in Singapore are not affected by the closures and continue to operate as usual. In Singapore, the brand is operated in collaboration with Hersing Corporation. The first flagship was opened in Singapore’s Plaza Singapura brand, while the second outlet is located at ERA Centre in Toa Payoh.
A+M has reached out to Texchem and Hersing Corporation for comment.