TEXCHEM (8702) - Texchem may list unit
Friday, 27 March 2015
KUALA LUMPUR: Texchem Resources Bhd, the owner of several Japanese restaurant chains, is mulling a plan to consolidate its food business and list the enlarged division on Bursa Malaysia. But first, the group will invest RM25mil over three years to grow the restaurant business. Texchem’s restaurant business was the largest profit contributor to the group for the financial year ended Dec 31, 2014 at RM15.31mil.
“We will consolidate our restaurant division into Texchem Restaurant Systems Sdn Bhd (TRS), including our 70.35% stake in Sushi Kin Sdn Bhd, and we plan to list it in five to six years down the road,” group executive chairman Tan Sri Fumihiko Konishi told reporters after a briefing on Texchem’s expansion plan yesterday.
Konishi said the company was also trying to get Japanese investors to pump in money into TRS to help with its expansion ahead of the planned listing.
Sushi Kin is the operator of the Sushi King restaurant chain.
Konishi: ‘The funds will also be used to set up joint ventures to tap other new concept restaurants.’
Konishi: ‘The funds will also be used to set up joint ventures to tap other new concept restaurants.’
Texchem is expecting its restaurant division to be the main driver of growth for this year and contribute more than 20% to group revenue. Its restaurant division operates 89 Sushi King restaurants nationwide, Miraku (fine-dining Japanese restaurant), Goku Raku Ramen (ramen restaurant chain), Yoshinoya Beef Bowl (Japanese fast-food restaurant), Waku-Waku (contemporary Japanese dining) and the Tim Ho Wan dim sum outlets.
Texchem recently completed the disposal of a 28% equity in Sushi Kin to Asia Yoshinoya International Sdn Bhd – a wholly owned subsidiary of Japanese fast-food restaurant giant Yoshinoya Holdings Co Ltd – for RM102.2mil.
This year, he said the group was planning to open two more Tim Ho Wan restaurants, expand the Yoshinoya and Hanamaru udon brands and introduce Japan’s first self-service coffee shop Doutor Coffee.
“The funds will also be used to set up joint ventures to tap other new concept restaurants,” he said, adding that the group was going to open its second Tim Ho Wan outlet at 1Utama Shopping Centre in Damansara next month.
He added that Texchem was also planning to open 14 Sushi King outlets, increasing its number to 103 from 89 currently, and looking for opportunities to expand its Sushi King restaurant to Indonesia.
“We are currently in the process of getting halal certification from the Indonesian authorities,” Konishi said.
Meanwhile, on the implementation of the 6% goods and services tax (GST) from April 1, Konishi expects that there will be no changes in the pricing of its restaurants.
“Currently, we collect a 6% sales tax for the Government. Under the GST, we will continue to collect the 6% for the Government, but can reclaim some of it,” he said.
http://www.thestar.com.my
Friday, 27 March 2015
KUALA LUMPUR: Texchem Resources Bhd, the owner of several Japanese restaurant chains, is mulling a plan to consolidate its food business and list the enlarged division on Bursa Malaysia. But first, the group will invest RM25mil over three years to grow the restaurant business. Texchem’s restaurant business was the largest profit contributor to the group for the financial year ended Dec 31, 2014 at RM15.31mil.
“We will consolidate our restaurant division into Texchem Restaurant Systems Sdn Bhd (TRS), including our 70.35% stake in Sushi Kin Sdn Bhd, and we plan to list it in five to six years down the road,” group executive chairman Tan Sri Fumihiko Konishi told reporters after a briefing on Texchem’s expansion plan yesterday.
Konishi said the company was also trying to get Japanese investors to pump in money into TRS to help with its expansion ahead of the planned listing.
Sushi Kin is the operator of the Sushi King restaurant chain.
Konishi: ‘The funds will also be used to set up joint ventures to tap other new concept restaurants.’
Konishi: ‘The funds will also be used to set up joint ventures to tap other new concept restaurants.’
Texchem is expecting its restaurant division to be the main driver of growth for this year and contribute more than 20% to group revenue. Its restaurant division operates 89 Sushi King restaurants nationwide, Miraku (fine-dining Japanese restaurant), Goku Raku Ramen (ramen restaurant chain), Yoshinoya Beef Bowl (Japanese fast-food restaurant), Waku-Waku (contemporary Japanese dining) and the Tim Ho Wan dim sum outlets.
Texchem recently completed the disposal of a 28% equity in Sushi Kin to Asia Yoshinoya International Sdn Bhd – a wholly owned subsidiary of Japanese fast-food restaurant giant Yoshinoya Holdings Co Ltd – for RM102.2mil.
This year, he said the group was planning to open two more Tim Ho Wan restaurants, expand the Yoshinoya and Hanamaru udon brands and introduce Japan’s first self-service coffee shop Doutor Coffee.
“The funds will also be used to set up joint ventures to tap other new concept restaurants,” he said, adding that the group was going to open its second Tim Ho Wan outlet at 1Utama Shopping Centre in Damansara next month.
He added that Texchem was also planning to open 14 Sushi King outlets, increasing its number to 103 from 89 currently, and looking for opportunities to expand its Sushi King restaurant to Indonesia.
“We are currently in the process of getting halal certification from the Indonesian authorities,” Konishi said.
Meanwhile, on the implementation of the 6% goods and services tax (GST) from April 1, Konishi expects that there will be no changes in the pricing of its restaurants.
“Currently, we collect a 6% sales tax for the Government. Under the GST, we will continue to collect the 6% for the Government, but can reclaim some of it,” he said.
http://www.thestar.com.my
