Johor Corporation (JCorp) has increased its stake to RM3.33 billion (56%) in QSR Brands (M) Holdings Bhd
Johor Corporation (JCorp) has increased its stake in QSR Brands (M) Holdings Bhd, which operates KFC and Pizza Hut fast food chains in Southeast Asia, to 56% compared with just 27% in 2012 as reported by Bernama.
Johor Menteri Besar, Datuk Dr Sahruddin Jamal said this has increased JCorp’s investment in QSR Brands to RM3.33 billion which is a 29% increase.
Foreign media reports last week stated that the owner of QSR Brands is considering selling KFC and Pizza Hut fast food chains for about S$1.96 billion (RM6 billion).
Therefore, the statement made by Dr Sahruddin was a rebuttal to the rumours.
Dr Sahruddin said JCorp’s strategy is to further grow QSR Brands, not just in the form of restaurants, but also to drive the halal industry by strengthening the middle and upstream of the poultry industry.
“This will enable QSR Brands to supply fresh and frozen halal chicken products in the Malaysian and global markets – a potential and bigger strategy in terms of the economy, employment or entrepreneurship,” he said.
The state government continues to support the efforts by JCorp to further enhance its business performance so that it could continue to play its maximum role to the state and the people of Johor.
Dr Sahruddin added that the remaining 44% of QSR Brands equity is held by CVC Capital Partners and the Employees Provident Fund (KWSP), which would constantly evaluate the level of their investment, including divesting their stake.